Dublin, July 16, 2021 (GLOBE NEWSWIRE) -- The "Specialty Chemicals Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Specialty Chemicals Market Report
The global specialty chemicals market by revenue is expected to grow at a CAGR of 5.60% during the period 2020-2026.
Specialty chemicals are a niche segment that offers special ingredients to improve the performance of several end-users, including construction, automotive, cosmetic, textile, and agricultural industries. An increase in the population, a decrease in the arable land, and expansion of horticulture industries are a few major factors contributing to the growth of the agrochemical & fertilizer market.
India, China, Japan, Germany, France, and the UK are the major market for agrochemicals. Water treatment chemicals are the second-largest end-use of the specialty chemical market. These substances are used to disinfect water so that it can be reused in the environment.
The factors contributing to the growth of water treatment chemicals are the rising population globally, increasing the demand for potable water. Construction chemicals have the high potential to propel in the forthcoming years due to the robust growth in the construction industry. Rapid urbanization, increasing population, and substantial investment by government agencies to boost the housing sector are stimulating the growth of the construction sector, which, in turn, is driving the market for construction chemicals.
GLOBAL SPECIALTY CHEMICALS MARKET SEGMENTATION
The global specialty chemicals market research report includes a detailed segmentation by end-user, geography. The global agrochemical market expects to reach USD 314.32 billion by 2026. The increased focus on digital tools such as farmer applications and dealer management systems for better decision-making is likely to increase the demand for specialty agrochemicals. To curb the harmful effects of chemical-based products, the application of agrochemicals is growing. India, China, Japan, Germany, France, and the UK are the primary market for agrochemicals. Currently, China is the largest producer and consumer of fertilizers and leads the agrochemical market.
The global construction chemicals market will likely grow at a CAGR of 6.22% from 2020 to 2026. Global infrastructure investments are expected to reach USD 94.4 trillion by 2040, with USD 3.6 trillion earmarked for sustainable development goals. The APAC region is likely to witness the largest investments during the forecast period. Its share in infrastructure investments increased from 54% in 2010 to nearly 57% in 2015, estimated to reach 55% by 2040. The increasing demand for earthquake-resistant buildings around the ring of fire in APAC and the East Coast of North America and Latin America is likely to increase the demand for construction chemicals.
The global water treatment chemicals market is likely to reach USD 157.42 billion by 2026, growing at a CAGR of 5.79%. Coagulants and flocculants are the most widely used chemicals, followed by biocides & disinfectants due to the increased application of these substances in municipal and wastewater treatment plants in several industries, including power, oil & gas, chemical, and petrochemical.
Biocides and disinfectants account for the second-largest product segment as they ensure the safety of manufacturing systems and operational efficiency by preventing the growth of microbes. North America and Europe are the mature markets for water chemicals.
INSIGHTS BY GEOGRAPHY
India, China, and Japan are the major consumers of specialty chemicals in APAC, accounting for USD 379.22 billion of the total revenue in 2020. The APAC specialty chemicals market is likely to reach USD 580.34 billion by 2026.
The demand for specialty chemicals has grown due to rapid urbanization, rising disposable incomes, and increasing industrialization of food, agriculture, cosmetics, textile, electronics, and other manufacturing sectors in APAC. The increasing demand for cosmetic products, the high demand for electronics products, the growing demand for adhesives and plastics from the packaging industry, and increasing installations of water treatment systems fuel the demand for specialty chemicals.
INSIGHTS BY VENDORS
The global specialty chemicals market is highly competitive and has a presence of both significant and regional players. Vendors focus on developing innovative products to support sustainability and expanding their product portfolio. Although established players dominate the market, growth opportunities for small players and new entrants also exist. They focus on capitalizing on the product portfolio that best suits the domestic requirement.
Due to the outbreak of the COVID-19 pandemic, the specialty chemical market has negatively been affected. With the spread of the coronavirus, several production facilities, including automobile, construction, textile, and other industrial products, were suspended temporarily. Therefore, the demand for chemicals has experienced a sharp decline.
To survive the intensive competitive environment, manufacturers need to introduce new or improved coating additives products to adapt to the constantly evolving market.
Aarti Industries Ltd
Other Prominent Vendors
Eastman Chemical Company
Angus Chemical Company
Daikin Chemicals Ltd.
Double Bond Chemical
King Industries Inc.
The Lubrizol Corporation
Croda International Plc
Huntsman International LLC
Univar Solutions Inc
Chevron Phillips Chemical Company LLC
Rossari Biotech Limited
Vinati Organics Limited
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 Global Trends in Chemical Industry
7.3 Specialty Chemicals: Overview
7.4 End-Use Segment Analysis
7.5 Megatrends in Specialty Chemicals Market
8 Growth Opportunity by Segment
8.1 End Use
9 Market Opportunities & Trends
9.1 Growing Demand from Construction Sector
9.2 Development of Eco-Friendly Products
9.3 High Demand From APAC
10 Market Growth Enablers
10.1 High Demand from Agrichemical Segment
10.2 Significant Demand from Pharmaceutical Segment
10.3 Increasing Demand for Personal Care Products for Men
11 Market Restraints
11.1 Stringent Environmental Regulations
12 Market Landscape
12.1 Market Overview
12.2 Geographic Landscape
12.3 Market Size & Forecast
12.4 Five Forces Analysis
13 Functions Performed by Specialty Chemicals
13.1 Rheology Modifier
13.2 Specialty Biocides
13.4 Specialty Adhesives and Sealants
13.5 Specialty Pigments
13.6 Water-Soluble Polymers
13.7 Specialty Coatings
14 End-Use Segmentation
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Agrichemicals & Fertilizers
14.4 Construction Chemicals
14.5 Water Treatment Chemicals
14.6 Textile Chemicals
14.7 Flavor & Fragrance Ingredients
14.8 Personal Care Ingredients
14.9 Electronic Chemicals
14.10 Dyes & Pigments
14.11 Paint & Coating Additives
14.12 Food Additives
For more information about this report visit https://www.researchandmarkets.com/r/71kf0c
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