Specialty Chemicals Market Size to Reach USD 953.9 Billion by 2027 - Valuates Reports
BANGALORE, India, July 1, 2020 /PRNewswire/ -- Specialty chemicals are additive materials that are used on the basis of their performance or function. These chemical are used to produce a variety of effects such as adhesives, agrichemicals, cleaning materials, colors, cosmetic additives, construction chemicals, elastomers, flavors, food additives, fragrances, etc., based on the industry needs
The global specialty chemicals market size was valued at USD 711.0 Billion in 2019 and is projected to reach USD 953.9 Billion by 2027, growing at a CAGR of 5.0% from 2020 to 2027.
The report provides an extensive analysis of factors, which drive or restrict the growth of the global specialty chemicals market. The report also provides quantitative as well as qualitative trends to assist the stakeholders in understanding the market scenario.
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TRENDS INFLUENCING THE SPECIALITY CHEMICALS MARKET SIZE
An increase in population base, along with a rise in demand for food, is creating the need for specialty agrochemicals for better crop production and protection. Furthermore, with an increase in urbanization and industrialization, there is a decrease in agricultural land, leading to growth in demand for agrochemicals to increase the crop yield per acre of land. This demand is expected to drive the growth of the specialty chemicals market size during the forecast period.
Specialty chemicals play a significant role in the production of biodegradable and eco-friendly products. These are used in a range of applications, including the production of fabrics that need less water to wash, low volatile organic content (VOC) paints, and chemical additives that help enhance the physical properties of products. The growing concerns regarding pollution and environmental degradation amongst people are helping the adoption of the environmentally friendly product. This eco-friendly application is expected to propel the Specialty chemicals market size during the forecast period.
The rapid expansion of shale oil & gas drilling & refining activities, along with favorable oil & gas prices, is also anticipated to boost market growth over the forecast period.
Developments in the food & beverage will aid in the growth of specialty chemicals market size. This is because food additives are widely used in processed foods and canned beverages.
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SPECIALITY CHEMICALS MARKET SHARE ANALYSIS
Pharmaceutical ingredients represented the largest market share of specialty chemicals in 2019 and are projected to continue this trend over the forecast period. This dominance of the Pharmaceutical segment is attributed to its widespread use of specialty chemicals in various drugs and medicines.
Asia-Pacific holds the largest specialty chemicals market share of 36.0 percent. This is due to the presence of key emerging economies like China, India, and Japan. China was the largest market of specialty chemicals in Asia, accounting for around a 38.9% share of the overall market. It was followed by India with a 23.1% share of the overall market.
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COMPETITIVE ANALYSIS
Innovation in supply chain management, strategic procurement, and eCommerce has improved the customers' efficiency and awareness. As a consequence, in some areas, the specialty chemicals industry is becoming more commodity-like.
The specialty chemicals industry is now attempting to raise its profitability by introducing price changes to cover higher R & D costs, electricity, and raw materials. In being more service-oriented, some specialty chemical firms are seeking to raise barriers to access their markets.
SOME OF THE TOP COMPANIES IN THE SPECIALTY CHEMICAL MARKET ARE,
- BASF SE, Dow, Inc.,
- Bayer AG,
- Evonik Industries AG,
- Lanxess AG,
- Solvay SA,
- Clariant AG,
- Huntsman International LLC,
- Albemarle Corporation, Nouryon,
- Sumitomo Chemical Company,
- Ashland LLC.
Other companies in accordance with the specialty chemicals market are
- Henkel Ag & Co. KGAA,
- Merck & Co., Inc.
- Sasol Limited,
- Koninklijke DSM N.V.,
- PPG Industries Inc.,
- 3M,
- H.B. Fuller,
- Others.
SPECIALTY CHEMICALS MARKET KEY SEGMENTS:
By Application
- Agrochemicals
- Insecticide
- Fungicides
- Herbicides
- Ammonium Sulphate Fertilizers
- Calcium Nitrate Fertilizers
- Others
- Flavors Ingredients
- Dairy
- Beverages
- Savory
- Others.
- Fragrances Ingredients
- Hair Care
- Personal Care
- Fabric Care
- Others.
- Dyes and Pigments
- Personal Care Active Ingredients
- Water Treatment Chemicals
- Corrosion and Scale Inhibitor
- Biocides and Disinfectants
- Coagulants and Flocculants
- Activated Car.
- Construction Chemicals
- Protective Coatings
- Adhesives and Sealants
- Concrete Admixtures
- Asphalt Additives
- Others.
- Surfactants
- Anionic
- Nonionic
- Cationic
- Amphoteric
- Others.
- Textile Chemicals
- Colorants and Auxiliaries
- Coating and Sizing Chemicals
- Finishing Chemicals Others.
- Bio-Based Chemicals
- Acetic Acid
- Furfural
- Ethanol
- Others.
- Polymer Additives
- Oil field Chemicals
- Drilling Fluids
- Cementing Chemicals
- Acidizing Chemicals
- Fracturing Chemicals
- Oil Production Chemicals
- Others.
- Paper & Pulp Chemicals
- Bleaching & RCF Chemicals
- Process Chemicals
- Functional Chemicals
- Coating chemicals
- Pigments & Fillers.
- Electronic Chemicals
- Specialty Gases
- Conductive Polymers
- Photoresist Chemicals
- Wet Chemicals
- Silicon Wafers
- PCB Laminates
- Others.
- Specialty Polymers
- Pharmaceutical Ingredients
- Chemical API
- Biological API
- Others.
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SIMILAR REPORTS :
● Specialty Oilfield Chemicals Market Report
The global Specialty Oilfield Chemicals market size is valued at 30980 Million USD in 2020 is expected to reach 37660 Million USD by the end of 2026, growing at a CAGR of 2.8% during 2021-2026.
Growth in Latin America, particularly in Brazil, the industry maintained a relatively fast growth rate. Africa has seen significant growth across the continent, and the growth rate is expected to continue over the next five years.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-32D382/global-specialty-oilfield-chemicals
● Specialty Polymers Market Report
The global Specialty Polymers market size is valued at 40280 Million USD in 2020 is expected to reach 52920 million USD by the end of 2026, growing at a CAGR of 3.9% during 2021-2026.
Specialty polymers impart enhanced performance and have superior properties because of which they are used in diverse end-user segments. During the forecast period, the growing automotive industry is expected to drive the growth of Specialty Polymers Market size.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-5J1298/global-specialty-polymers
● Specialty Pulp and Paper Chemicals Market Report
Specialty paper chemicals reduce the consumption of energy and water and raw materials by reducing paper weight without hampering the paper's functional and optical properties. This feature is expected to drive the growth of Specialty Pulp and Paper Chemicals Market size.
In 2017, the functional chemicals segment dominated the global specialty pulp and paper chemicals market and is expected to continue the next four years. The rise in demand for functional chemicals like dyes, pigments, and others for printing and writing needs is anticipated to drive the growth of Specialty Pulp and Paper Chemicals Market size.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-9I1373/global-specialty-pulp-and-paper-chemicals
● Specialty Surfactants Market Report
The Global Specialty Surfactants market size will increase to 34200 Million USD by 2025, from 30100 Million USD in 2018, at a CAGR of 1.6% during the forecast period.
Europe has the largest surfactant consumption in 2016 with 25.11% consumption market share; Followed by North America and China, which occupied 22.03% and 18.93% consumption market share.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-14M273/global-specialty-surfactants
● Specialty Textile Chemicals Market Report
This report studies the Specialty Textile Chemicals market size (value and volume) by players, regions, product types and end industries, history data 2014-2018, and forecast data 2019-2025.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-26D1511/global-specialty-textile-chemicals
● Specialty Active Pharmaceutical Ingredients Market Report
This report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter's Five Forces Analysis.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2F261/specialty-active-pharmaceutical-ingredients
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