Specialty Chemicals Market
Specialty Chemicals Market Highlights:
Specialty Chemicals Market Stood at over USD $ 700 Billion Dollar and is likely to surpass the USD $ 1000 Billion Dollar Mark by ended 2023.
Specialty Chemicals are produced for specific performance and functions in particular end user industries. Specialty chemicals are known as special effect chemicals which gives outstanding result when used with chemicals or substances. Global specialty chemicals market is segmented into different category depending on by type, by function and by end-user. Under various types of specialty chemicals following are included, construction chemicals, food additives, electronic chemicals, cosmetic chemicals, lubricant & oilfield chemicals, water treatment chemicals and others. On the basis of functions, it is segmented into antioxidants, biocides, catalysts, enzymes, specialty coatings and others. Increasing industrial activities in food, cosmetics, construction and other industries have increased the overall demand for specialty chemicals. Important factors that drive the global specialty chemicals market are rapid expansion of large end-user industries, innovations in establishing protective and specialty chemicals. Further, changing raw material prices and stringent regulatory concerns of government regarding chemical usage and environment safety limits the growth of specialty chemicals.
Specialty Chemicals segment in India is likely to see immediate gains after the change in goods and services tax (GST). “Make in India” campaign is also expected to provide impetus to the emergence of India as a manufacturing hub for the chemicals industry. Agrochemical growth has a strong linkage to the growth of the rural economy. In certain segments (such as agrochemicals, dyes and pigments, flavours and fragrances), a significant proportion of production in India is exported. Exports are growing rapidly as India is becoming an important manufacturing hub for such chemicals.
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Specialty Chemicals Market Application:
Specialty Chemicals is driven by the region Asia pacific, owing to rise in the populations resulting to increasing demand for construction industries, automotive industry among others. Additionally, increased urbanization that demands for clean and safe water increases usage of water chemicals to recycle the waste water. Furthermore, the government across the globe specifically in developing countries are investing in development of roads, ports, power and telecom which could result in over 15% growth in construction, and chemicals.
Specialty Chemicals Market has been evaluated to be rapidly growing and is expected to reach further. Benefits such as vast scope of application, innovation in end-user products and rapid industrialization in developing the economy and increasing the market of specialty chemicals globally. Increase in price of raw material and regulations of government regarding usage of chemicals will hindered the market in coming years.
Specialty Chemicals Market to grow, these include development of eco-friendly specialty chemicals at competitive rates and vast potential of these chemicals in wide applications have great opportunity for manufacturers. Major driving factors for the market are innovations and technological advancements of electronic industry and robust expansion of end-user industries. Some of the factors which hamper the growth of specialty chemicals are change in price of raw materials and strict regulations of government for usage of specialty chemicals.
Specialty Chemicals are high value added and low production volume chemicals. Specialty chemical can also be termed as performance chemicals. It is high added value products used as catalysts, intermediates, components, protectants it is utilized in a wide variety of applications. Specialty chemicals are used in paints, detergents, foods, plastics, cosmetics, construction, pulp and paper, pharmaceuticals, electronics, agriculture and for producing petroleum products.
Specialty Chemicals Market Key Players:
Specialty Chemicals Market include are: BASF SE, Akzo Nobel N.V, Clariant International Ltd, Evonik Industries AG, Huntsman International LLC, DuPont, PPG Industries, Sumitomo Chemical, Cytec Industries Inc., Albemarle Corporation and others.
Specialty Chemicals Market Intended Audience:
• Specialty Chemicals Manufacturers.
• End user Industries
• Potential Investors
• Raw Material Suppliers
• Key executive (CEO and COO) and strategy growth manager
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Specialty Chemicals Market Regional Analysis:
Specialty Chemical industry growth typically follows the growth of these key end markets. For example an increasingly urbanized china will demand for clean municipal market leading to increase in municipalities’ usage of water chemicals to recycle the waste water. Furthermore, the government across the globe specifically in developing countries are investing in development of roads, ports, power and telecom which could result in over 15% pea growth in construction, and chemicals.
The global Commodity Plastic market is segmented into North America, Europe, Asia Pacific, and rest of the world (ROW). Among these Asia Pacific region is the largest market and expected to grow to USD 325.8 Billion by 2023. The growth of Asia Pacific region is attributed to the increasing population leading to the augmented demand for construction industries, automotive industry among others.
China accounted for the largest market share of 35 % in 2015, with a market value of USD 73.9 billion and is projected to grow at the highest CAGR of 6.14% during the forecast period. India was the second-largest market in 2015, valued at USD 63.6 Billion in 2015; it is projected to grow at a CAGR of 5.68%.
Specialty Chemicals Market Competitive Analysis:
Specialty Chemicals Market compete based upon pricing, Technology and services. Vendors operating in the Specialty Chemicals Market strive to deliver the best quality products based on innovative technologies, and best practices. Specialty Chemicals market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Specialty Chemicals Market Segmentation:
Specialty Chemicals Market is mainly segmented on the basis of types of specialty chemicals, functions and end users. Based on the type, the market is again segmented into construction chemical, food additives, electronic chemicals, cosmetic chemicals, lubricant & oilfield chemicals, water treatment chemicals and others. On the basis of function the market is classified into antioxidants, biocides, catalysts, enzymes, specialty coatings and others. Similarly, on the basis of end-users the market is again classified into automobile, electronic, plastic, construction and personal care.
Specialty Chemicals Market Research Report, by Source (Crude Oil, Naphtha, Ethane, Propane, Wood, Butane), By Type (Agrochemicals (Insecticide, Fungicides, Herbicides, Ammonium Sulphate Fertilizers, Calcium Nitrate Fertilizers), Flavors Ingredients (Dairy, Beverages, Savory ), Fragrances Ingredients (Hair Care, Personal Care, Fabric Care), Dyes & Pigments, Personal Care Active Ingredients, Water Treatment Chemicals (Calcium Nitrate and Other Water Treatment Chemicals), Construction Chemicals (Calcium Carbonate and Other Construction Chemicals), Surfactants (Anionic, Nonionic, Cationic and Amphoteric), Textile Chemicals, Polymer Additives, Bio-Based Chemicals (Acetic Acid, Furfural, Ethanol), Others and By Regions – Forecast to 2023
Specialty Chemicals Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining power of buyers
4.1.3 Threat of substitutes
4.1.4 Segment rivalry
4.2 Value Chain/Supply Chain of Global Specialty Chemicals Market
5 Industry Overview of Global Specialty Chemicals Market
5.2 Growth Drivers
5.3 Impact analysis
5.4 Market Challenges
5.5 Impact analysis
Specialty Chemicals Market Table of Content to be Continue……,
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