Specialty Chemicals Market Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2028

 

Specialty chemicals also kniwn as effect chemicals, are defined as specific chemical products that furnish a large number and variety of effects on which growth of various other industries depends. Some of the types of specialty chemicals include agrichemicals, adhesives, cosmetic additives, cleaning materials, elastomers, construction chemicals, food additives, flavors, industrial gases, lubricants, fragrances, surfactants, polymers and textile auxiliaries among others. Various industrial sectors including aerospace, automobile, cosmetics, food, manufacturing, agriculture and textile depends largely on such specialty chemical products. Specialty chemicals are those chemicals which are used depending on their functions and performance. As a result, specialty chemicals are often referred to as formulation chemicals or performance chemicals. Specialty chemicals can be mixtures of molecules or unique molecules also called as formulations. The chemical and physical characteristics of the formulated mixtures or single molecules as well as the composition of the aforementioned mixtures affects the overall performance of the end product. In various commercial applications, the specialty chemical manufacturers concentrate on bringing innovative technical solutions for their group of customers. Hence, this is a differentiating facility in the options furnished by specialty chemical manufacturers when they are related to other sectors of the global industry including commodity chemicals, fine chemicals, pharmaceuticals and petrochemicals.

Rising industrial activities especially in the sectors such as food, agriculture, cosmetics and others especially in the developing economies including Brazil, India and China are some key factors anticipated to drive the demand for specialty chemicals during the forecast period thus driving the overall global specialty chemicals market. In addition, increasing use of specialty chemicals in water treatment process across the globe is another factor fuelling the global specialty chemicals market. Further, increasing development and introduction of relatively more sophisticated water treatment process including ion-exchange involves the use of specialty chemicals especially in the industrial water treatment. Stringent government norms on the use of some specific specialty chemicals in food industry may hamper the global specialty chemicals market over the forecast period. Furthermore, increasing industrial activities especially in the developing economies such as China, India, Turkey, Russia, Poland, Indonesia and Brazil among others is in turn increasing the demand for specialty chemicals. Japan and China are anticipated to maintain their dominance in the Asia-Pacific specialty chemicals market throughout the forecast period. Institutional and industrial cleaners, specialty polymers, electronic chemicals, construction chemicals and some specific flavors and fragrances are the most widely used specialty chemicals across the globe.

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The global specialty chemicals market can be segmented on the basis of type, function and geography. By type, the global specialty chemicals market can be segmented into food additives, cosmetic chemicals, water treatment chemicals, textile chemicals, paper and pulp chemicals, construction chemicals, oil field chemicals, ink additives and others. On the basis of function, the global specialty chemicals market can be segmented into antioxidants, biocides, surfactants and others. By geography, the global specialty chemicals market can be divided into North America, Latin America, Europe, Middle East & Africa and Asia Pacific.

Some of the players involved in the supply of specialty chemicals are focusing on key market strategies such as acquisitions and mergers along with improvement in old products and innovations in new product development. They are also concentrating on bringing up new products to meet the demands in the ever-competitive market. Some of the major players in the global specialty chemicals market include Novozymes, Akzo Nobel N.V., Clariant AG, Rhodia S.A., Huntsman Corporation, Evonik Industries AG, Chevron Phillips Chemical Company, Clariant AG, Akzo Nobel N.V., BASF SE, Evonik Industries AG, Clariant International Ltd, Cytec Industries Inc., Chemtura Corporation, Ferro Corporation and Albemarle Corporation among others.
The global specialty chemicals market can be segmented
By Type:
• Food additives
• Cosmetic chemicals
• Water treatment chemicals
• Textile chemicals
• Paper and pulp chemicals
• Construction chemicals
• Oil field chemicals
• Ink additives
• Others
By Function:
• Antioxidants
• Biocides
• Surfactants
• Others
By Region:
• North America
• Latin America
• Europe
• Middle East & Africa
• Asia Pacific

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