“Speciality Chemicals market worth $924.6 billion in 2017” says Visiongain Intelligence Centre
18 June 2018
Visiongain’s new report the Specialty Chemicals Market Report 2017-2027: Forecasts By Type (Construction Chemicals, Industrial & Institutional Cleaners, Electronic Chemicals, Surfactants, Flavours, Fragrance, Water Soluble Polymers, Catalysts, Oil Field Chemicals, Food Additives, Plastic Additives, Feed Additives, Printing Inks, Pulp & Paper Chemicals, Adhesive & Sealants, Cosmetic Chemicals, Lubricating Oil Additives, Water Management Chemicals, Textile Chemicals, Nutraceutical Ingredients, Others) indicates that the global specialty chemicals market will experience $924.6 bn in spending in 2017.
The lead analyst of the report said “Specialty chemicals are used in very limited quantity in any product or formulation to enhance its performance. The demand for specialty chemicals in any region is majorly driven by factors such as demand from end-user industries, penetration level of specialty chemicals, and economic development in the region. Over the years North America, Western Europe, and Japan dominated the demand for specialty chemicals driven by factors such as a huge industrial base, strong economic position, and technology advantage. Over the two decades the growth of the global specialty chemicals market has been driven by growing economies such as China, India, South Korea, ASEAN countries, GCC countries, South Africa, Brazil, and others.
In the global specialty chemicals market, construction chemicals, industrial & institutional cleaners, electronic chemicals, and surfactants segment holds around one-third share of the global demand. The demand for different specialty chemicals in different regions varies significantly, for instance the global construction chemicals is dominated by the Asia-Pacific region whereas North America leads the demand for industrial & institutional cleaners. A huge consumer base, expanding manufacturing & industrial sector, growing disposable incomes of consumers, changing lifestyles, economic development, and low penetration of specialty chemicals are the factors which makes the Asia-Pacific and other growing economies the lucrative opportunity in the growing specialty chemicals market. International players such as BASF SE, The Dow Chemical Company, Bayer AG, Evonik Industries AG, E. I. du Pont de Nemours and Company (DuPont) and others are expanding their operations in the emerging economies to gain a share in the global specialty chemicals market. Stringent health, safety, & environmental regulations along with government subsidies has led to significant focus towards eco-friendly products. In the global specialty chemicals market all the established players along with many regional players are investing immensely to develop bio-based products. Many new local players are entering the market owing to this opportunity and government support in many developing economies of the world.’’
The 228 page report contains 167 tables, charts and graphs that add visual analysis in order to explain developing trends within the specialty chemicals market. Visiongain provides market revenue forecasts for the period 2017-2027 for the 20 leading specialty chemicals submarkets, namely construction chemicals, industrial & institutional cleaners, electronic chemicals, surfactants, flavours, fragrance, water soluble polymers, catalyst, oil field chemicals, food additives, plastic additives, feed additives, printing inks, specialty pulp & paper chemicals, specialty adhesives & sealants, cosmetic chemicals, lubricating oil additives, water management chemicals, textile chemicals, textile chemicals, nutraceutical ingredients, and Others.
The Specialty Chemicals Market Report 2017-2027 report contains a dedicated leading companies’ chapter covering more than 10 companies leading the field in specialty chemicals including AkzoNobel N.V., Arkema S.A., BASF SE, Evonik Industries AG, The Dow Chemical Company, Albermarle Corporation, Clariant AG, Bayer AG, Huntsman Corporation and E. I. du Pont de Numours and Company
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