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Specialty Chemicals Market Is Expanding at $233.5 Billion, by 2020 : AMR Research

06-13-2019 02:17 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Specialty Chemicals Market

Specialty Chemicals Market

Specialty chemicals are manufactured for specific performance and functions in different end use industries. 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.

Specialty Chemicals Market Report, published by Allied Market Research, forecasts that the global market is expected to generate $233.5 billion by 2020. In 2014, construction chemicals and food additives segment collectively accounted for about half of the market share and is expected to maintain this trend during the forecast period. In 2014, the Asia-Pacific region contributed around 35% share of the specialty chemical market.

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Key Findings of Specialty Chemicals Market

• In 2014, food flavors segment dominated the food additives market, accounting for one-thirds share of the overall market revenue.
• Asia-Pacific region was the largest consumer of cosmetic chemicals, accounting for about 39% share of the market in 2014.
• Coagulants & flocculants and biocides & disinfectants segments jointly accounted for more than half of the water treatment chemicals market revenue in 2014.
• Presently, Asia-Pacific region is the leading consumer of construction chemicals, accounting for more than 50% share of the market and is expected to maintain its dominance during the forecast period.
• Asphalt additives is one of the lucrative segments in the construction chemicals market and is projected to grow at CAGR of 7.5% during the forecast period.

In 2014, the Asia-Pacific region accounted for about one-thirds share of the gloabl specialty chemicals market and is expected to grow at the highest CAGR of 5.4% during the forecast period. The is primarily attributed to the increasing demand for specialty chemicals in construction, personal care, water treatment, pulp & paper, and ink additives market. North America and Europe collectively accounted for more than 50% share of the global specialty chemical market in 2014, with oil field chemicals and food additives as major revenue-generating segments.

The prominent players profiled in this report include BASF SE, The Dow Chemical Co., Bayer AG, AkzoNobel N.V., Huntsman Corporation, Chemtura Corporation, Rhodia S.A., Clariant AG, Evonik Industries AG, and Novozymes A/S.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client's insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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