Specialty Chemicals Market in electronic chemicals sector size is projected to witness gains more than 4.5% CAGR. These find widespread applications in electronic apparatuses including integrated circuits and semiconductors. Additionally, increasing smartphone customer base will favor growth.
Specialty chemicals market size will be boosted by robust growth in end user industries including construction and automotive. These compounds are used in adhesives and paints &coatings, which are widely used in automotive as well as construction industry. In 2015, global vehicles production, including commercial &personal, was approximately 90 million units. Furthermore, increasing consumer demand for lubricants to reduce frictional forces in the vehicles will enhance growth.
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Global specialty chemicals market, which was worth more than USD 830 billion in 2015, is slated to be one of the mega avenues that investors can bet on. Chemicals are vital for the manufacturing of most industrial products, right from construction, agrochemicals, and electronics, to paints, automobiles and paper & textiles, which will undeniably augment specialty chemicals market. Companies such as BASF SE, Bayer AG, The Dow Chemical Company, INEOS Group AG and DuPont are identified as the top five specialty chemicals producers operating across the globe.
Chemical industry has become a crucial name in the global business space, being regarded as the key enabler for other sectors. Chemicals have occupied their significant share in probably all the other industries of the world, right from the electronics to the paint, automotive, food & beverages, etc. With this gigantic presence, specialty chemicals market is all set to expand vigorously both in terms of revenue and applications over the coming years.
Specialty chemicals are mainly synthetic and have harmful environmental effects, which effects the biodiversity. Therefore, stringent environmental legislations are formulated and directed for the product application, due to its toxicity. This may restraint the industry size in the near future. In addition, increasing consumer awareness towards digital media, such as Twitter, Facebook, and YouTube may hinder paper &textile specialty chemicals market size. However, growing construction industry, particularly in China, India, Japan and Brazil, will propel specialty chemicals market share in the coming years.
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Asia Pacific, led by China, Japan, and India, dominated the global specialty chemicals market revenue. The growth was mainly attributed to growing construction and automotive industry.
Specialty chemicals company revenue shares were fragmented. Major industry share contributor in specialty chemicals market includes Dow Chemical, BASF, Bayer, INEOS Group and DuPont. Other prominent participants are Ashland, Clariant, Syngenta, Huntsman, Arkema, Evonik Industries, Akzo Nobel, Albemarle, Chemtura, Eastman Chemical, and Solvay.
Major Point From Table Of Content:
Chapter 3. Specialty chemicals Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast 2013 – 2024
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
22.214.171.124. Increasing demand for yield-enhancing agrochemicals
126.96.36.199. Rising demand from automotive industry
3.4.2. Industry pitfalls & challenges
188.8.131.52. Stringent government regulations against agrochemicals
184.108.40.206. Diminishing coated paper demand in North America and Europe
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7. Company market share analysis, 2015
3.8. PESTEL analysis
3.9 Pricing trends
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