Materials including surfactants,
adhesives, polymers, lubricants, food additives, industrial gases, cleaning
materials, elastomers and agrichemicals among others are classified as
specialty chemicals. Specialty chemicals are materials which as classified
under this category based on their performance or function. These chemicals
are used in a wide range of industries such as aerospace, automotives,
textiles, water treatment, industrial manufacturing, electronics, food and
cosmetics among others.
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Rapid industrialization,
particularly in Asia Pacific, is one of the key factors which is expected to
drive the global specialty chemicals market over the next few years. In
addition, increasing application scope of specialty chemicals owing to focused
research & development and technological advancement is expected to be
another key factor augmenting the demand for specialty chemicals. Furthermore,
increasing focus on innovation coupled with recovery of the global chemicals
market is expected to fuel the demand for specialty chemicals over the
forecast period. However, volatility in the cost of raw materials such as
petroleum is expected to hamper the growth of the market over the near future.
Moreover, rising concerns regarding damage to the environment due to the
manufacture, usage and wastage of these chemicals is expected to be another
vital factor adversely impacting the growth of the market. Development and
commercialization of bio-based specialty chemicals is expected to open new
opportunities for the growth of the market in the near future.
Asia Pacific is expected to witness
the highest gain in the global specialty chemicals market within the forecast
period on account of increasing industrial activities in this region. In
addition, developing economies of South America, Africa, Eastern Europe and
Middle East are expected to exhibit substantial demand for specialty chemicals
over the next few years on account of the developing industrial hub in these
regions.
Some of the key participants of
this market include Archer Daniels Midland Co. (ADM), AkzoNobel, Ashland Inc.,
BASF, Bayer, Clariant, Cytec Industries Inc., Dow Chemical Company, Ecolab
Inc., Evonik Degussa, ExxonMobil, Huntsman International LLC, Syngenta AG,
Sumitomo Corp. and Sherwin-Williams Co. among others. The specialty chemicals
market is highly fragmented in nature owing to the presence of several small,
medium and large scale manufacturing industries.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for
upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints. It
provides market projections for the coming years. It includes analysis of
recent developments in technology, Porter’s five force model analysis and
detailed profiles of top industry players. The report also includes a review
of micro and macro factors essential for the existing market players and new
entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point
analysis for changing competitive dynamics
- It provides a forward looking
perspective on different factors driving or restraining market
growth
- It provides a technological
growth map over time to understand the industry growth rate
- It provides a seven-year
forecast assessed on the basis of how the market is predicted to
grow
- It helps in understanding the
key product segments and their future
- It provides pin point analysis
of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed
business decisions by having complete insights of market and by making
in-depth analysis of market segments
- It provides distinctive
graphics and exemplified SWOT analysis of major market segments
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