Specialty Chemicals Market Size, Companies and Regulatory Requirements Analysis Report

“Worldwide Specialty Chemicals Market Research Report”
ReportsWeb.com announces “Strategic Assessment of Worldwide Specialty Chemicals Market – Forecast Till 2021” research report added to its database. The report says APAC region leading the Specialty Chemicals market- Vast market potential in the APAC region driving the growth for specialty chemicals market.

Specialty Chemicals Market by applications (Paints and Coatings, Polymers and Plastic Additives, Agrochemicals, Food Additives, Homecare Surfactants, Water Management Chemicals, Leather and Textile Chemicals, Construction Chemicals, Lubricant and Fuel Additives, Pulp and Paper Chemicals) by Geographic Segmentation (North America, APAC, Latin America, Europe, ROW) by Country Segmentation (Top 3 countries in each region) Global Industry Analysis, Market Size, Market Share, Growth, Trends and Forecast 2016 – 2021

Specialty chemicals is expected to account for a little under a billion US$ by 2021. As of 2015 specialty chemicals still account for less than 25 percent of the worldwide chemical output which was valued at a little over $4 trillion. Specialty chemicals as of date are priced higher than the standard commodity chemicals because of the specific application for these chemicals. Furthermore, these chemicals need to confirm to very strict environmental regulations and as such need to be of the highest quality. The price of these chemicals will continue to be higher than the standard commodity chemicals considerably as it is expected that there will be more niche applications for these chemicals by the end of the forecast period.

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Specialty Chemicals Competitive Landscape – Market Share

Companies that are changing the landscape of the market include Akzo Nobel, Ashland, BASF, DOW, DSM, DuPont, Eastman, Evonik Industries, Exxon Mobil, Henkel, Huntsman, Lanxess, SABIC, Solvay and Sumitomo Chemical.

Focused players in the Specialty Chemicals market – Changing competitive landscape driving the market

The application of specialty chemicals is specific to the chemical that has been manufactured and cannot be used across multiple applications as is the case with commodity chemicals. As such, specialty chemicals cannot be manufactured in large volume unless there is a concrete demand for these chemicals. In such a scenario, it was always the larger players that would dominate this market as they had the resources and could target their already large customer base. The competitive landscape has changed with a number of several specialty chemical players and commodity players integrating vertically or horizontally to make the best of this high-growth chemical market. The bargaining power no longer rests with the few of the major vendors but rather is being challenged by the rise of niche players who aspire to be the market leaders in their particular segments. These focused players constantly stave off competition and commoditization of the industry by aggressively investing in R&D to improve their product capabilities.

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Regulatory requirements – specialty chemicals to help address various regulatory and environmental concerns

Specialty chemicals are being used in fuel and lubricant formulation on account of them playing a major role in controlling viscosity, lubricity and thus chemical breakdown and contaminant generation during the use of combustion engines. Environment regulators across the world emphasize on reduced automotive and industrial emissions, there has been a growing need for energy-efficient combustion engines and environment-friendly fuels and lubricants. In order to constantly comply with the stringent emission standards, refiners and lubricant formulators are increasingly relying on innovative chemical compounds that can not only reduce harmful emissions but can also prolong the lifecycle of the combustion engines. Thus these compounds play a significant role in saving billions of dollars that otherwise would have been incurred in wear and tear of engine and industrial spares.

The region’s chemical industry has grown at an impressive rate of over 6 percent over the past five years with the specialty chemical industry posting even a higher growth of more than 7 percent. On account of cheap factors of production, progressive government policies and huge domestic consumption, the region is the hub for chemical manufacturing, as the leading chemical companies across the world set up their manufacturing locations in the region. While the developed markets in Europe and North America are unable to keep pace with the growth of emerging markets of Asia, these markets are growing both in consumption size and purchasing power. The region is expected to account for a little less than US$ 500 million by 2021 in the specialty chemicals market.

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By Application

–  Paints and Coatings
–  Polymers and Plastic Additives
–  Agrochemicals
–  Food Additives
–  Homecare Surfactants
–  Water Management Chemicals
–  Leather and Textile Chemicals
–  Construction Chemicals
–  Lubricant and Fuel Additives
–  Pulp and Paper Chemicals

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