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 Highlights:
Specialty Chemicals Market is set to thrive at a CAGR of 6.21% during the forecast period 2018 to 2023. The market is set to grow from USD 710.03 Billion in 2017 to USD 1000 Billion by the end of 2023.
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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 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 Table of Content to be Continue……,
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