Specialty chemicals, also known as specialties or effect chemicals, encompass a diverse range of chemical products that offer unique effects relied upon by various industry sectors. These include adhesives, agrichemicals, cleaning materials, colors, cosmetic additives, construction chemicals, elastomers, flavors, food additives, fragrances, industrial gases, lubricants, paints, polymers, surfactants, and textile auxiliaries. Numerous industries, such as automotive, aerospace, food, cosmetics, agriculture, manufacturing, and textiles, heavily rely on these specialty chemicals.

These materials are used based on their performance and function, making them sometimes referred to as "performance" chemicals or "formulation" chemicals, in addition to "effect" chemicals. They can either be unique individual molecules or formulated mixtures of molecules, where the physical and chemical characteristics, as well as the composition of these mixtures, significantly impact the performance of the end product. Speciality chemical producers usually offer tailored customer service, providing innovative technical solutions for their clients, which distinguishes them from other sub-sectors in the chemical industry, such as fine chemicals, commodity chemicals, petrochemicals, and pharmaceuticals.

In the USA, specialty chemical manufacturers are members of the Society of Chemical Manufacturers and Affiliates (SOCMA), while in the United Kingdom, they are part of the British Association for Chemical Specialties (BACS). SOCMA explains that specialty chemicals differ from commodity chemicals in that each specialty chemical often has only one or two specific uses, whereas commodity chemicals may have multiple applications for each chemical. Although commodity chemicals dominate production volume in the global marketplace, specialty chemicals contribute to the richness and diversity in commerce at any given time.