Specialty chemicals are specific chemical
products that help in providing variety of effects to several industries that
they cater to such as textile, construction, oil & gas, ink additives,
cosmetics, and food. They can be single-chemical formulations & entities
whose composition significantly influences the performance of the customers’
product. These chemicals are used on the basis of their function &
performance. The physical and chemical characteristics of the chemicals
influence the performance of end products.
According to study, “Specialty
Chemicals Market by Type (Food Additives, Cosmetic Chemicals, Water
Treatment Chemicals, Textile Chemicals, Construction Chemicals, Paper &
Pulp Chemicals, Oil Field Chemicals, and Ink Additives) - Global Opportunity
Analysis and Industry Forecast, 2019 - 2026”. Some of the key companies
operating in the global specialty chemicals market are AECI, Albemarle
Corporation, Akzo Nobel N.V., Albemarle Corporation, 3M, Afton Chemical, Arkema
Group, Berger Paints India Limited, Asian Paints, BASF SE, Archroma, Axalta
Coating Systems, Ashland, Baker Hughes Company, Chevron Corporation, Dow,
Corteva, DuPont de Nemours, Inc., Buckman, DIC Corporation, Clariant, Covestro
AG, Eastman Chemical Company, DSM, Evonik Industries AG, GCP Applied
Technologies Inc., Exxon Mobil Corporation, Ecolab, Flint Group, Ferro
Corporation, H.B. Fuller Company, Halliburton, Huntsman International LLC,
Hexcel Corporation, FMC Corporation, Henkel AG & Co. KGaA, KRONOS
Worldwide, Inc., Infineum International Limited, MAPEI S.p.A., Lonza, NIPSEA
GROUP, Merck KGaA, LafargeHolcim, Kemira, LANXESS, Kurita Water Industries
Ltd., Nutrien Ltd., Nouryon, RPM International Inc., Procter & Gamble, PPG
Industries Inc., Pidilite Industries Ltd., Schlumberger Limited, Syngenta,
Solvay, The Lubrizol Corporation, SABIC, Solenis, Sika AG, The Chemours
Company, W. R. Grace & Co., Veolia, Venator Materials PLC, The
Sherwin-Williams Company, Wacker Chemie AG, Yara.
Based on type, specialty chemicals market is
bifurcated into textile chemicals, water treatment chemicals, ink additives,
cosmetic chemicals, food additives, paper & pulp chemicals, construction
chemicals, and oil field chemicals. Textile chemicals include colorants &
auxiliaries, finishing chemicals, coating & sizing chemicals, and others.
Water treatment chemicals include activated carbon, corrosion & scale
inhibitors, activated carbon, coagulants & flocculants, pH adjusters &
softeners, biocides & disinfectants, anti-foaming agents and others.
Cosmetic chemicals include film formers & moisturizers, single-use
additives, surfactants, emollients, and others. Food additives include flavor
enhancers, hydrocolloids, food flavors, and others. Paper & pulp chemicals
include functional chemicals, process chemicals, coating chemicals, bleaching
& RCF chemicals, and pigments & fillers. Construction chemicals include
protective coatings, adhesives & sealants, asphalt additives, and concrete
admixtures and others. Additionally, oil field chemicals include fracturing
chemicals, oil production chemicals, drilling fluids, acidizing chemicals, and
cementing chemicals. In addition, based on function type, market is bifurcated
into antioxidants, specialty enzymes, biocides, specialty pigments, catalysts,
demulsifier, separation membranes, surfactant and specialty coatings.
The specialty chemicals market is driven by
rise in demand from end-use industries, followed by surge in population, growth
in focus on innovation and increase in focus on research & development
(R&D). However, volatile raw material costs and strict government
regulation may impact the market. Moreover, growth in development of
eco-friendly products and increase in commercialization & industrialization
of specialty chemical market are key opportunities for market.
Based on geography, the Asian-Pacific is a
leading in specialty chemicals market owing to rise in demand for specialty
chemical in various industrial processes and growth in manufacturing sector in
the region. The North-American and European regions are estimated to witness
higher CAGR due to growth in construction sector over the forecast period. In
upcoming years, it is estimated that future of the market will be optimistic as
a result of rapid industrialization coupled with increase in need for
improvement in crop yields during the forecast period. The global specialty
chemicals market was valued at US $211.2 million in 2018, and is expected to
reach US $316.5 million by 2026, growing at a CAGR of 5.2% from 2019-2026.
For More Information, Click on the Link Below:-
Global
Specialty Chemicals Market
Contact Us:-
Ken
Research
Ankur Gupta, Head Marketing &
Communications
No comments:
Post a Comment