Specialty Chemicals Market worth $470 Billion by 2020

special chemical marketSpecialty Chemicals Market by Type (Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Food Additives, Specialty Polymer and Others), by Function (Antioxidants, Biocides, Surfactants, and Others) – Global Trends & Forecasts to 2020” , defines and segments the specialty chemicals market with an analysis and forecast for types, and functions, in terms of value.

This report also provides a comprehensive analysis of the companies listed below:

Henkel Ag & Co. KGAA (Germany), BASF SE (Germany), AkzoNobel N.V. (The Netherlands), Evonik Industries AG (Germany) and Clariant AG (Switzerland), Huntsman International LLC (U.S.), The Dow Chemical Company (U.S.), Albemarle Corporation (U.S.), and Ashland Inc. (U.S.).

Research Coverage:

This report classifies specialty chemicals market into two segments, namely, target applications and functions (such as antioxidants, catalysts, and biocides). The applications of specialty chemicals market includes advanced ceramic materials, construction chemicals, cosmetic chemicals, water management chemicals, oil field chemicals, textile chemicals, food additives, and others such as rubber processing chemicals, and specialty paper chemicals. Specialty chemicals by functions include adhesives and sealants, catalysts, corrosion inhibitors, antioxidants, flame retardants, separation membranes, synthetic dyes, specialty pigments, demulsifiers, rheology modifiers, and water-soluble polymers. The report also analyzes prices of key raw materials used to manufacture specialty chemicals. Some of basic materials are crude oil, natural gas, propane, ethane, among others.

The specialty chemicals market has emerged as one of the most crucial chemicals segment across the globe. The specialty chemicals market is dominated by large players who have diversified portfolios and employ sophisticated and modern management approach such as Dow Chemicals, BASF, DuPont, Akzo Nobel, and DSM. These market participants have been aggressive in their acquisitions and have been focusing on multi-chemical abilities, thus employing a commodity-based approach to the market.

Specialty coatings and surfactants to be the largest functions for the specialty chemicals market

Specialty chemicals by functions range from antioxidants, biocides, catalysts, enzymes, separation membranes, specialty coatings, specialty pigments, surfactant, rheology modifier, demulsifier and others. Specialty coatings and surfactants collectively accounted for 27.19% share in terms of value in 2014. Increase in demand for specialty chemicals such as construction chemicals, pesticides, oilfield chemicals, mining chemicals and others is mainly due to the huge demand from Asia-Pacific region, and growth in end-user industries such as construction, automotive, and electronics. Growth is expected to be partly driven by turnaround in these key markets and the increasing need for specialty chemicals for these functions.

Pesticides to continue to dominate the market

Pesticides are the major type of specialty chemicals. They capture a major market share of 15.81% of the total specialty chemicals market in 2014. The factors contributing towards the growth of pesticides market are decreasing arable land, growing population, and the need for improvement in crop yields. North America accounted for around 35.32% of the global market in 2014.

Construction chemicals to register the highest growth

Construction chemicals are the major type of specialty chemicals and are expected to witness the highest growth rate of 8.63%, from 2015 to 2020. The demand for construction chemicals is increasing on account of the growing construction sector in the major emerging economies such as China, India, South Korea, and Brazil.

The specialty chemicals market has emerged as one of the most crucial chemicals segment across the globe. The specialty chemicals market is dominated by large players who have diversified portfolios and employ sophisticated and modern management approach such as Dow Chemicals, BASF, DuPont, Akzo Nobel, and DSM. These market participants have been aggressive in their acquisitions and have been focusing on multi-chemical abilities, thus employing a commodity-based approach to the market.

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