Specialty Chemicals Market | Competitive Analysis by Key Vendors and Growth Factors by 2023

The growth of the Specialty Chemicals Market is majorly driven by the increasing demand of specialty chemicals in emerging economies, ongoing technological advancements, and increasing penetration of end use industries.

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On the basis of type, the market is categorized into agrochemicals, construction chemicals, specialty coatings, surfactants, food additives, polymer additives, electronic chemicals, cleaning chemicals, plastic additives, paper and textile chemicals, adhesives and sealants, lubricant and oilfield chemicals, and others. ‘Others’ include advanced ceramic materials, rubber processing chemicals, water treatment chemicals, and mining chemicals.

APAC has been contributing the highest revenue to the global market, crossing 40.0% in 2017. It is also expected to be the fastest growing specialty chemicals market during the forecast period, attributed to the growing consumption of these chemicals in various industries including construction, agriculture, and automotive.

The region has a very strong base of manpower, and a well-developed chemical industry, which provides raw materials at competitive prices, further driving the market growth. Owing to the increasing environmental awareness around the world, there has been a shift towards bio-degradable products and chemicals, which is expected to create ample opportunities for the market players operating in the specialty chemicals market.

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Some of the major players operating in the global specialty chemicals market are Ashland Global Holdings Inc., DowDuPont Inc., Evonik Industries AG, Akzo Nobel N.V., Eastman Chemical Company, LOTTE Fine Chemical, Mitsui Chemicals Inc., Mitsubishi Chemical Corporation, BASF SE, Clariant AG, Huntsman Corporation, China Petroleum & Chemical Corporation, Saudi Basic Industries Corporation, Sadara Chemical Company, Saudi Speciality Industries Co Ltd., Thebe Unico, and AECI Ltd.

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Created on Jun 28th 2018 04:26. Viewed 382 times.

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