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Specialty Chemicals Market is Expected to Reach $233.5 Billion, Globally, By 2020 – Allied Market Research

Saturday, October 8, 2016 23:31
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(Before It's News)

A new report published by Allied Market Research, titled, “Specialty Chemicals Market—Opportunities and Forecasts, 2014–2020,” projects that the worldwide specialty chemicals market is expected to generate $233.5 billion by 2020. In 2014, construction chemicals and food additives segment collectively accounted for about half of the market share and is expected to maintain this trend during the forecast period. In 2014, the Asia-Pacific region contributed around 35% share of the world specialty chemical market.

Specialty Chemicals Market is Expected to Reach $233.5 Billion, Globally, By 2020 - Allied Market Research

Specialty chemicals are manufactured on the basis of their performance or function, rather than their chemical composition. Constant focus on research & development activities has led to the development of advanced specialty chemicals; thereby, driving the market growth. Moreover, heavy investment in construction & infrastructure projects and changing lifestyle of consumers boost the consumption of specialty chemicals, such as construction chemicals and food additives, in the emerging economies. However, fluctuating cost of raw materials and stringent government regulations are expected to restrain the market growth.

To know more about Specialty Chemical Market, visit here: https://www.alliedmarketresearch.com/specialty-chemicals-market

Growing urbanization and rising number of construction projects have fostered the consumption of specialty chemicals. The ink additives segment is anticipated to grow at the highest CAGR of 5.8% during the forecast period. Increasing sales of UV, free radical, and cationic inks for commercial and publications printing applications have fueled the consumption of ink additives in the market. The other specialty chemicals included in this report are food additives, cosmetic chemicals, water treatment chemicals, paper & pulp chemicals, textile chemicals, and oil field chemicals.

Key Findings of the Specialty Chemicals Market

  • In 2014, food flavors segment dominated the food additives market, accounting for one-thirds share of the overall market revenue.
  • Asia-Pacific region was the largest consumer of cosmetic chemicals, accounting for about 39% share of the market in 2014.  
  • Coagulants & flocculants and biocides & disinfectants segments jointly accounted for more than half of the water treatment chemicals market revenue in 2014.
  • Presently, Asia-Pacific region is the leading consumer of construction chemicals, accounting for more than 50% share of the market and is expected to maintain its dominance during the forecast period. 
  • Asphalt additives is one of the lucrative segments in the construction chemicals market and is projected to grow at CAGR of 7.5% during the forecast period.

In 2014, the Asia-Pacific region accounted for about one-thirds share of the world specialty chemicals market and is expected to grow at the highest CAGR of 5.4% during the forecast period. The is primarily attributed to the increasing demand for specialty chemicals in construction, personal care, water treatment, pulp & paper, and ink additives market. North America and Europe collectively accounted for more than 50% share of the world specialty chemical market in 2014, with oil field chemicals and food additives as major revenue-generating segments. 

The prominent players profiled in this report include BASF SE, The Dow Chemical Co., Bayer AG, AkzoNobel N.V., Huntsman Corporation, Chemtura Corporation, Rhodia S.A., Clariant AG, Evonik Industries AG, and Novozymes A/S.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

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