Specialty Chemicals Market Growing Demand Will Take A Valuation Upto $3,805 Million By 2023
There are numerous specialty chemicals used in several end-user industries, globally; however, specialty chemicals included in this report are food additives, cosmetic chemicals, water treatment chemicals, paper & pulp chemicals, textile chemicals, construction chemicals, and oil field chemicals.
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The market is segmented based on type and geography. The global specialty chemicals market has been analyzed on the basis of type, which includes food additives, cosmetic chemicals, water treatment chemicals, textile chemicals, construction chemicals, paper & pulp chemicals, oil field chemicals, and ink additives. In 2014, the construction chemicals segment garnered the highest share of 22.3% in the global market. Increasing urbanization in emerging economies is driving public infrastructure and housing projects; this 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 global specialty chemicals consumption. Ink additives is projected to be the fastest growing segment, registering a CAGR of 5.8% during the forecast period.
Specialty chemicals are manufactured on the basis of their performance or function, rather than their chemical composition. Constant focus on research & development activities has led to the development of advanced specialty chemicals; thereby, driving the market growth. Moreover, heavy investment in construction & infrastructure projects and changing lifestyle of consumers boost the consumption of specialty chemicals, such as construction chemicals and food additives, in the emerging economies. However, fluctuating cost of raw materials and stringent government regulations are expected to restrain the market growth.
Top Winning Strategies
Top market players in global specialty chemicals market are adopting acquisitions, agreements, expansions, partnerships, product launches, and divestitures as their key business strategy to sustain in the competitive market. The data of market players and their strategic moves are gathered through the press release of respective companies, various blogs, which is limited to the available information on the website and primary calls to the experts in the industry.
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Product launches is the leading strategy adopted by the key market players in the global specialty chemicals market in order to introduce novel and innovative products in various business segments such as ink additives, oilfield chemicals, and construction chemicals. Product launches by the market players cover 42.9% share out of the total number of strategies. Akzo Nobel N.V., Novozymes, Rhodia S.A., Clariant AG and Evonik Industries AG are the leading companies who adopted product launch as their key business strategy.
Acquisitions, expansions, and divestitures are the second most popular strategies adopted by companies operating in the global specialty chemical business. Most of the divestiture strategy was adopted by BASF SE; while, most acquisitions were undertaken by BASF SE, AkzoNobel N.V., and Huntsman Corporation. Clariant AG and Evonik Industries AG focused more towards expansion of new business units.
Table of Content
Chapter: : 1 INTRODUCTION
1.1 Report description
1.2 Key market benefits
1.3 Key market segment
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: : 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market beyond: what to expect by 2025
2.2.1 Moderate growth scenario
2.2.2 Rapid growth scenario
2.2.3 Critical growth scenario
Chapter: : 3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top investment pockets
3.2.2 Top winning strategies
3.3 Porters five forces analysis
3.3.1 Low threat of new entrants
3.3.2 Medium threat of substitutes
3.3.3 Low bargaining power of suppliers
3.3.4 High bargaining power of buyers
3.3.5 Rivalry amongst firms
3.4 Market Dynamics
188.8.131.52The emerging markets of Asia-pacific Region
184.108.40.206 Constant Focus on Research & development
220.127.116.11 Rising Population
18.104.22.168 Fluctuating cost of raw materials
22.214.171.124 Stringent regulations governing the market
126.96.36.199 Development of Eco-friendly products
188.8.131.52 Commercialization and Industrialization of specialty chemicals market
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