Specialty Chemicals Market Specialty Chemicalsm

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GmiiRResearch 6/16/2022 8:02:54 AM

Specialty Chemicals Market

Specialty Chemicals Market is projected to witness a 3% CAGR over the forecast period (2014-2020), owing to the emerging need for high-quality chemicals across pulp and paper, oil and gas, and cosmetics industries. Growing emphasis of manufacturers on innovating advanced and customized offering to cater the demand for customers has augmented the specialty chemicals market size.

 

Specialty chemicals are used in the chemical industry to improve the performance of chemicals. Increasing construction and rising R&D activities are the key drivers propelling the global specialty chemicals market. With the rising concern about the harmful impact of chemicals on humans and environment, major market players are emphasizing on the development of chemicals to maintain their competitiveness in the market.

 

With a reduction in per capita fertile land and growing food demand due to urbanization and industrialization, the demand for agrochemical specialty chemicals has increased. As per the food and agriculture organization, the global food demand is estimated to expand by 70% by 2050.

 

By application, construction chemicals are projected to expand at a faster CAGR over the forecast period, owing to the growing demand for joint fillers, repair activities and tile fixing adhesives. Also, infrastructural expansion in the emerging economies will proliferate the construction segment’s size.

 

Geographically, Asia Pacific is forecast to lead the market over the coming years, owing to the increasing industrialization in economies like Malaysia and Singapore. Moreover, as per the specialty chemicals market report, the growing demand for adhesives, construction chemicals, and paints an coatings due to the expansion across construction industry will propel the regional size.

Recent Developments

In Nov 2019, Axalta, acquired Capital Paints LLC, a UAE-based thermosetting powder coatings producer.

In Aug 2019, PPG acquired Dexmet Corporation, a producer of specialty materials for surfaces in aerospace, automotive, and industrial applications.

 

Specialty Chemicals Market Segmentation:

Specialty Chemicals Market by functions

  • Antioxidants
  • Biocide
  • Catalyst
  • Enzymes
  • Separation Membrane
  • Specialty Coating
  • Specialty Pigments

 
Global Specialty Chemicals market by application

  • Mining Chemicals
  • Textile Chemicals
  • Construction Chemicals
  • Electronics Chemicals
  • Oil Field Chemicals
  • Pesticide
  • Specialty Paper Chemicals
  • Water Treatment Chemicals
  • Food Additives
  • Printing Ink
  • Specialty Polymer
  • Rubber Processing Chemicals
  • Water Management Chemicals
  • Specialty Surfactants
  • Advanced Ceramic Materials

Specialty Chemicals Market by Region:

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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