The report on “specialty chemical market” is segmented by Type ( Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Food Additives, Specialty Polymer and Others), by function (Antioxidants, Biocides, Surfactants, and Others) and by geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America). Global Specialty Chemical Market was valued US$ 200 Bn in 2017 and is estimated to reach US$ 300 Bn by 2026 at a CAGR of about 5 % during a forecast.
Rising industrial activities in the field of cosmetics, food, agriculture and other manufacturing sector is increasing the overall demand for specialty chemicals. Innovation in various industries is leading the way to Greater Demands, drives the specialty chemical market. Also, specialty chemicals are increasingly used in water treatment. Government regulation on the use of certain chemical in food processing industry and other manufacturing industry may hinder the growth of global specialty chemicals industry.
Construction chemical is leading the specialty chemical market.
Modification in infrastructure and development led by economical emerging countries drives the construction chemical market. Aesthetic, functional and design requirements of civil structures include a wide products range such as asphalt additives, concrete admixtures, adhesives, sealants and protective coatings.
Asia Pacific is dominating the specialty chemical market
Expansion and emergence of various activities in industries will further propel the demand of specialty chemical. Asia Pacific is dominating the specialty chemical market and will continue its dominance during the forecast period, owing to the growing consumption of these chemicals in various industries including construction, agriculture, and automotive.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global Specialty Chemical market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global Specialty Chemical market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Specialty Chemical market positioning of competitors.
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