Specialty chemicals are produced or manufactured for achieving certain targets and are generally used to enhance the performance of either manufacturing process or end use products. Specialty chemicals are customized to perform specialized functions, applications and operating conditions.
Specialty chemicals can be segmented by functions including adhesives and sealants, catalysts, corrosion inhibitors, antioxidants, flame retardants, and others such as separation membranes, synthetic dyes, specialty pigments and water soluble polymers. Specialty chemicals can also be segmented by varied applications such as construction, electronics, pesticides, water-treatment, etc.
The global specialty chemicals industry is expected to grow at an estimated CAGR of 4.5%, to grow from around $480 billion in 2010 to around $610 billion in 2016. The pesticides segment occupied the largest part of the global specialty market i.e. 11% of the overall specialty chemicals market. This segment is expected to reach $80 billion in 2016, at a CAGR of 7.6% for the same period. Along with above the other high growth segments are advanced ceramics, construction chemicals, oilfield chemicals and textile chemicals.
Growth in the end-user industries, growth in Asia, increasing scope of applications, focus on innovations to produce efficient and safe chemicals remain the key drivers for the specialty chemicals market. Rising cost of raw materials, regulatory issues, and environmental concerns are the key challenges that the industry is facing.
The global specialty chemicals market is dynamic market, due to wide scope of applications and the overlap of many chemicals across various segments; many market players such as DuPont, BASF, Akzo Nobel, Bayer Corporation, Mitsubishi Chemical Corporation, Clariant International, Evonik Degussa, and Ashland-Hercules etc.
The global specialty chemicals market research report covers major technological and market trends, forecasting and key industry developments such as new product launches, mergers and acquisitions, and agreements. The report provides deep insight to specialty chemicals market US, Europe, Asia, Africa and Latin America. The reports also cover global specialty chemicals industry structure and profiles, competitive landscape and patents. The report reveals key market trends which can be strategically useful and actionable for the stakeholders; i.e. specialty chemicals manufacturers, bulk and commodity chemicals manufactures, raw material suppliers, distributors, importers and exporters, and research and consulting firms in the specialty chemicals industry. market research report, company profile, company analysis, market report, industry reports, market research.