The modern-day document posted via Report Ocean, titled “Specialty Chemicals Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
Specialty chemicals, are the chemical products which make considerable value addition to a wide array of products belonging to various industries, such as textile, ink additives, construction, oil & gas, cosmetics, food and others. Specialty chemicals can be single-chemical formulations or entities whose composition greatly affects the overall functioning of customer’s’ product. These chemicals are used on the basis of their function and performance. Incessant R&D activities occurring in the market, have facilitated development of products with optimum and advanced feature, thereby driving the growth of the market.
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Rapid industrialization has led to an increasing demand from Asian countries such as India and China. Increasing investments have been made in construction and infrastructure development projects in Asia-Pacific, thereby catapulting Asia-Pacific to the position of a leading destination for specialty chemical manufacturers. However, variations in raw material cost and strict regulations imposed by the government are likely to hamper the growth of world specialty chemicals market.
Construction chemicals, accounted for the largest segment in the world specialty chemical market in 2014. Increasing urbanization in emerging economies is driving public infrastructure and housing projects; which in turn has increased the consumption of specialty construction chemicals such as protective coatings, adhesives and sealants, concrete admixtures and asphalt additives. The construction chemicals industry is booming in emerging economies such as Asia-Pacific, the Middle East, Africa, Central and South America.In 2014, food additives, cosmetic chemicals and paper & pulp chemicals collectively accounted for around half of the world specialty chemicals consumption. Ink additives is projected to be the fastest growing segment, registering a CAGR of 5.8% during the forecast period.
Geographically, the world specialty chemicals market is segmented into North America, Europe, Asia-Pacific and LAMEA. Previously, developed regions such as North America, Europe and Japan, were major consumers of specialty chemicals. However, Asia-Pacific has now emerged to be the dominant region occupying 35% of the world market share and is likely to maintain its position throughout the forecast period. Asia-Pacific is also the fastest growing specialty chemicals market in the world, registering a CAGR of 5.4% during the forecast period. The demand for specialty chemicals in Asia-Pacific market is primarily attributed to the rapid industrialization in India, China, Japan, South Korea, and Taiwan. Rapid industrialization in Asia-Pacific region is supplemented by trade liberalization, spread of process technology and low labor cost. However, high economic growth is expected to contribute to the market growth during the forecast period.
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COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
KEY MARKET BENEFITS:
The projections in the report are made by analyzing the current trends and future market potential for the period of 2014-2020 in terms of value and volume.
Region-wise specialty chemicals market conditions are comprehensively analyzed in the report.
Exhaustive analysis of the world specialty chemicals market by type helps in understanding the types of specialty chemicals that are currently being used along with the variants that would gain prominence in the future.
Competitive intelligence (of leading manufacturers and distributors of specialty chemicals) helps in understanding the competitive scenario across geographies.
The report provides a quantitative analysis through 2014-2020, which would enable the stakeholders to capitalize on prevailing market opportunities.
Key market players within the specialty chemicals market are profiled in the report and their strategies are analyzed thoroughly, which helps in understanding the competitive outlook of world specialty chemicals market.
Competitive Intelligence, on prominent manufacturers of specialty chemical, provides key insights on the strategies implemented, to gain a significant market share in the world specialty chemical market. Top market players in world specialty chemical market are adopting product launch, partnership, agreement, expansion and acquisition, as their key business strategies to sustain in the competitive market. Some of the leading manufacturers profiled in this report include BASF SE, The Dow Chemical Co., Bayer AG, AkzoNobel NV, Huntsman Corporation, Chemtura Corporation, Rhodia S.A., Clariant AG, Evonik Industries AG and Novozymes A/S.
SPECIALTY CHEMICALS MARKET KEY SEGMENTS:
The world specialty chemical market is segmented as:
By Type
Food Additives
Cosmetic Chemicals
Water Treatment Chemicals
Paper & Pulp Chemicals
Textile Chemicals
Construction Chemicals
Oil field Chemicals
Ink Additives
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By Geography
North America
Europe
Asia-Pacific
LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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