Global Specialty Chemicals Market Outlook to 2026

SKU ID : BQ- 18359801

Publishing Date : 28-May-2020

No. of pages : 0

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  • Specialty chemicals are low-volume, high-value, and high-margin chemicals that are used in low quantities and are targeted towards specific end-use applications. The major factors responsible for the growth of the global specialty chemicals market is increasing demand from the construction industry especially in the Asia-Pacific region coupled with the increasing demand for cleaning chemicals due to the outbreak of the Covid-19 pandemic. The market is also driven by the increasing technological innovations in the specialty chemicals resulting in high performance and efficiency.

    However, the growth of the market is expected to be hindered by the stringent regulations on the production of specialty chemicals and short-term disruptions in the supply chain as a result of the Covid-19 pandemic. There has been a strong impact on the supply of raw materials to produce specialty chemicals across the globe. The majority of the raw materials for specialty chemicals production takes place in China. With the outbreak or pandemic and the transportation and logistics restrictions, there has been a supply shortage during the q1 2020. Between March 2019 and March 2020, the specialty chemicals market in the United States witnessed a growth rate of -4.4%.

    In 2019, the consumption of specialty chemicals was high in the Asia-Pacific region owing to the presence of a large base of end-user industries in the region. The major end-user industries for specialty chemicals in the region include construction, chemicals, agriculture, personal care, and cosmetics among others. Asia-Pacific region exhibited the highest growth rate during the forecast period and is anticipated to dominate the market in terms of specialty chemical consumption.

    The global market for specialty chemicals is highly fragmented owing to the presence of a large number of players in both local and international markets. Each segment of specialty chemicals is dominated by a different set of producers.

    In April 2020, BASF SE appointed BTC Europe as a distribution partner for the entire personal care portfolio in the UK and Ireland. BASF Care Creations personal care portfolio includes surfactants, emulsions, polymers, cosmetic active ingredients.

    In March 2020, Cargill and BASF entered distribution collaboration to bring enzyme solutions to MEA (Middle East and Africa) region. According to the collaboration, Cargill will be the strategic marketing and sales channel partner of BASF’s animal feed enzymes.

    GlobalSpecialty ChemicalsMarketreport provides deep insight into the current and future state ofspecialty chemicalsmarket across various regions.The study comprehensively analyzes thespecialty chemicalsmarket by segmenting based on geography, by product type(Adhesives & Sealants, Catalysts, Construction Chemicals, Cosmetic Chemicals, Dyes, Inks and Pigments, Electronic Chemicals, Mining Chemicals, Flavours & Fragrances, Food Additives,Industrial & Institutional Cleaners, Oilfield Chemicals, Leather Chemicals, Lubricants & Oil Additives, Pulp & Paper Chemicals,Plastic Additives, Paints & Coatings, Water Treatment Chemicals, Specialty Polymers, Textile Chemicals, and Rubber Processing Chemicals). The report examines the market drivers and restraints along with the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscapewith profiles of major companies including their market shares and projects.

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    This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

    • By product type
    • By End User/Applications
    • By Technology
    • By Region

    The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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