Specialty Chemicals Market Size, Share, Development, Growth and Demand Forecast to 2022 By P&S Market Research

Specialty chemicals are the particular low volume chemical products adding significant value to the different products in several industries, such as construction, agriculture, textile, automotive, oil and gas, food and beverage, paints, glass and cosmetic. These chemicals are marketed for their function or performance, instead of their composition. These chemicals are either single entity, or in combination of several chemicals. The specialty chemical products significantly enhance the processing and performance of consumer products. Specialty chemicals find several applications as catalyst, antioxidant, pesticide or biocide, demulsifier. The global specialty chemicals market witnessed significant change over the years, owing to the extensive research and development and product innovation. These chemicals result in higher margins, in comparison to bulk chemicals.

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The global specialty chemicals market was valued at $828.9 billion in 2015, and it is expected to grow at a CAGR of 5.0% during 2016 - 2022. The large base of end-use industries, high demand from Asia-Pacific, increasing demand from automotive industry, and technological advancements are driving the growth of the global specialty chemicals market. The shifting of production to Asia is the key trend witnessed in the global specialty chemicals market. However, saturation in specialty chemicals market in developed economies, volatile raw materials prices and stringent regulations for specialty chemicals are some of the factors hindering the growth of the global specialty chemicals market to some extent.

Among the various types of specialty chemicals, the agrochemicals segment held the largest share (15.9%) with market size of $131.4 billion in 2015. The construction chemicals segment held the second largest share (9.6%) in the global specialty chemicals market in 2015. The segment is also anticipated to witness the highest growth at a CAGR of 6.8% during 2016 – 2022. Surfactants is another key type segment in the global specialty chemicals market, and it is anticipated to witness 5.9% CAGR during forecast period.

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Asia-Pacific was the largest as well as the fastest growing specialty chemicals market. The region accounted for 39.7% share in the global specialty chemicals market in 2015, and it is anticipated to capture 47.5% share in the global market in 2022. The increasing domestic consumption in Asia-Pacific especially in China and India, increasing investment by the major players for the production of specialty chemicals in India and China are driving the specialty chemicals market in the region. The raw material availability and low labor cost are the key success factors for the significant growth of specialty chemicals market in China and India.

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GLOBAL SPECIALTY CHEMICALS MARKET

By Type – Agrochemicals, Construction Chemicals, Electronic Chemicals, Cleaning Chemicals, Specialty Coatings, Surfactants, Polymer Additives, Plastic Additives, Lubricants and Oilfield Chemicals, Paper and Textile Coatings, Food Additives, Adhesives and Sealants, Others

By Region – North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa

GLOBAL SPECIALTY CHEMICALS MARKET, BY GEOGRAPHY
North America Specialty Chemicals Market

By Country - U.S. and Rest of North America

By Type
Europe Specialty Chemicals Market

By Country – Germany, France, Italy, U.K., Spain and Rest of Europe

By Type
Asia-Pacific Specialty Chemicals Market

By Country – China, Japan, India and Rest of Asia-Pacific

By Type
Latin America Specialty Chemicals Market

By Country – Brazil and Rest of Latin America

By Type
Rest of the World Specialty Chemicals Market

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