NEW YORK, July 15, 2015 /PRNewswire/ -- The market for specialty chemicals is estimated to grow due to the increasing demand from end user industries such as construction, automotive, plastic, and electronics. Huge demand from Asia-Pacific region and increasing R&D activities to develop new products is also major driving factors of the specialty chemicals market. The factors restraining the market growth are volatile raw material price and environmental regulations regarding the use of certain specialty chemicals.
The specialty chemicals market is projected to register a CAGR of 5.42% between 2015 and 2020. Asia-Pacific is also expected to witness the highest growth between 2015 and 2020. This region is the largest and fastest-growing market for specialty chemicals with a CAGR of 6.35% expected between 2015 and 2020. A significant demand from developing countries such as China and India is driving the global specialty chemicals market. Moreover, advancements in electronics industry in major electronics producing countries such as China, Japan, South Korea, and Taiwan has resulted in a solid turnaround in the consumption of specialty chemicals in the region. Most of the growth in China and India is being fuelled by rising investments in infrastructure development and construction projects in these countries.
The specialty chemicals report estimates the market for 2014 and projects its expected demand till 2020. It also provides a detailed qualitative and quantitative analysis of the specialty chemicals market. Various secondary sources, such as encyclopedia, directories, and databases have been used to identify and collect information that is useful for this extensive commercial study. The primary sources for the report includes experts from related industries and suppliers who have been interviewed to obtain and verify critical information as well as to assess prospects of the specialty chemicals market.
The report analyzes the specialty chemicals market trends and forecasts till 2020. The market size has been provided in terms of value ($Million). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, products & services offered, recent developments, and company strategy.
Scope of the report
This research report categorizes the global market for specialty chemicals on the basis of type market, function, and region in terms of values and analyzes trends in each of the submarkets.
On the basis of type: The market for specialty chemicals is segmented by type of specialty chemicals, such as advanced ceramic materials, construction chemicals, electronic chemicals, food additives, mining chemicals, oilfield chemicals, pesticides, plastic additives, printing inks, rubber processing chemicals, specialty paper chemicals, textile chemicals, specialty surfactants, specialty polymers, water management chemicals. Each of these types has been further described in detail in the report with forecasts of market sizes in terms of value, as well.
On the basis of function: The market for specialty chemicals is segmented by functions, such as antioxidants, biocides, catalysts, enzymes, separation membranes, specialty coatings, and specialty pigments, among others. Each function is further described in detail in the report with forecasts of market sizes in terms of value as well.
On the basis of region: The specialty chemicals market by type and application is segmented by key regions—Europe, North America, Asia-Pacific, and Rest of the World.
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