Global Specialty Chemicals Market Trends, Applications, Analysis, Growth, and Forecast to 2028
“Global Specialty Chemicals Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global specialty chemicals market report has been segmented on the basis of product type and region.
Global Specialty Chemicals Market: Overview
Specialty chemicals are produced on the basis of required function, thus these chemicals are also known as performance chemicals. These chemicals are used as raw materials in manufacturing of various industrial and consumer products. These chemicals are used to improve functional and optical properties of various products such as specialty coatings and polymers, electronic chemicals, surfactants, construction chemicals, industrial cleaners, flavors and fragrances, food additives, paper chemicals, adhesives and sealants, cosmetics, catalysts, textile chemicals, and others.
Global Specialty Chemicals Market: Dynamics
Rising demand for high-performance paints and coating in various end-use industries such as automotive, aerospace, and construction across the globe is a major factor expected to drive growth of the specialty chemicals market in the next coming years. In addition, growing awareness among consumers for eco-friendly products along with aesthetic properties owing to reduce carbon emissions is another factor estimated to drive growth of the specialty chemicals market to certain extent. Increasing demand for these chemicals in paper and pulp industry, coupled with growing demand for biodegradable packaging paper is expected to drive revenue growth of the target market over the forecast period. Moreover, rapid industrialization, coupled with growing construction and automotive industries, growing urbanization, coupled with high disposable income, etc., are among some other factors projected to support revenue growth of the potential market in years to come.
However, statutes and regulations towards environmental concern owing to reduce carbon emissions and high cost of raw materials are among some factors which may hamper demand for specialty chemicals and restrain growth of the target market over the forecast period.
Increasing demand for biodegradable products, coupled with manufacturing of new and cost-effective products are factors expected to create new revenue opportunities for manufacturers operating in the target market.
Global Specialty Chemicals Market: Segment Analysis
Among product type segments, the specialty polymers segment is projected to account for significant revenue share in the target market. This can be attributed to increasing demand for specialty polymers in various end-use industries such as automotive, construction, and others.
Global Specialty Chemicals Market: Region Analysis
The market in Asia Pacific is estimated to register highest revenue share contribution, and expected to dominate in the global specialty chemicals market. This dominance is due to increasing use of specialty chemicals in various end-use industries, growing urbanization, coupled with high spending capacity, and increasing government investments in various sectors in countries in Asia Pacific region. The Asia Pacific market is expected to register fastest growth rate in years to come, owing to growing industrialization, coupled with increasing cosmetic, construction, and automotive industries in countries in the region. The specialty chemicals market in North America is expected to grow at a moderate rate in the next 10 years. Increasing demand for consumer electronics, coupled with increasing disposable income is expected to drive revenue growth of specialty chemicals market in region.
Global Specialty Chemicals Market Segmentation:
Segmentation on the Basis of Product Type:
- Specialty Polymers
- Ink Additives
- Food Additives
- Cosmetic Chemicals
- Water Treatment Chemicals
- Textile Chemicals
- Construction Chemicals
- Electronic Chemicals
- Paper & Pulp Chemicals
- Oil Field Chemicals
- Others (Adhesives & Sealants, Catalysts, and Water Treatment Chemicals)
Segmentation on the Basis of Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Akzo Nobel N.V.
- Ashland, Inc.
- BASF SE
- Kemira Oyj
- DowDuPont Inc.
- Huntsman International LLC
- Evonik Industries AG
- Clariant AG
- Solvay SA
- Albemarle Corporation
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