Global Specialty Chemicals Market Forecast by Key Players: Dow Chemical, BASF, Bayer, INEOS Group and DuPont

Specialty Chemicals Market is forecast to experience gains exceeding 4% CAGR by 2024. The global population has been on an exponential rise over the past few years. The demand of food will consequently increase leading to the growth of this industry. The yield of the crops can be enhanced with the aid of agrochemicals, which will create a high demand for the product. Governments have promoted the use of agrochemicals for filling the gap between demand and supply of food. Rapidly growing industrialization is one of the major factors driving the demand for the product. Industrialization will lead to decreased arable land, which will spur the product market.

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The increased per capita income of people has increased their purchasing power which will positively influence the automotive sector. The wide use of the product in plastic additives & polymers, coatings & paints, sealants and adhesives in automobiles will escalate the demand for the product. The increased consumer demand for lubricants in vehicles will augment the growth of the market.

The construction industry will also boost the product market owing to the increased construction projects coming up for commercial and residential purposes. The increased urbanization in developing regions has led to many upcoming housing projects which will drive the product market.

The strict regulations of government authorities can hamper the growth of the market. The synthetic product has an adverse environmental impact due to its toxic nature which can impede the growth of the market. The coated paper industry has diminished in Europe and North America which can also restraint the business growth.

The specialty chemicals have multitude of applications in various end-use industries. The electronic chemicals are estimated to witness growth at a rate of above 4.5%. The increased sales of smartphones will contribute significantly to the product market. Growing food & beverage industry will also contribute to the growth of specialty chemicals market. The food additives segment is estimated to exhibit significant gains in the forecast timespan.

The water treatment is one of the fastest growing market segments. The demand for water treatment chemicals will fuel the market growth as government regulations have been imposed on utilization of water.

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Partial Chapter of the Table of Content

Chapter 1. Methodology and Scope
1.1. Research methodology
1.1.1. Initial data exploration
1.1.2. Statistical modeling and forecast
1.1.3. Industry insights and validation
1.1.3. Research scope & assumptions
1.2. Data sources

Chapter 2. Executive Summary
2.1. Specialty chemicals industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Regional trends

Chapter 3. Specialty chemicals Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast 2013 - 2024
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
3.4.1.1. Increasing demand for yield-enhancing agrochemicals
3.4.1.2. Rising demand from automotive industry
3.4.2. Industry pitfalls & challenges
3.4.2.1. Stringent government regulations against agrochemicals
3.4.2.1. Diminishing coated paper demand in North America and Europe
3.5. Growth potential analysis
3.6. Porter's analysis
3.7. Company market share analysis, 2015
3.8. PESTEL analysis
3.9 Pricing trends

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The revenue in North America crossed USD 150 billion in 2015, attributed to the demand in oil and gas industry, which is expected to grow during the forecast period. The oilfield chemicals and lubricants will contribute to the regional market growth. The growth of the product market in Asia Pacific is attributed to the growing automotive and construction sectors.

Some of the key industry participants in this industry are BASF SE, Clariant AG, Akzo Nobel N.V., The Dow Chemical Company, DuPont, Bayer AG, Chevron Philips Chemical Company, Ashland Inc., Solvay, Syngenta AG, Chaitra Corporation, Evonik Industries, INEOS Group AG, Eastman Chemical Company, Albemarle Corporation, Arkema S.A. and Huntsman Corporation.

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