Specialty Chemicals Market - Positive Long-Term Growth Outlook 2023
Specialty Chemicals Market was valued at US$ 800.4 Bn in 2014 and is anticipated to reach US$ 1,201.1 Bn in 2023, expanding at a CAGR of 4.7% between 2015 and 2023
Specialty Chemicals Market was valued at US$ 800.4 Bn in 2014 and is anticipated to reach US$ 1,201.1 Bn in 2023, expanding at a CAGR of 4.7% between 2015 and 2023
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Transparency <strong>Market</strong><br />
Research<br />
<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong> - Global Industry Analysis,<br />
Size, Share, <strong>Growth</strong>, Trends and Forecast 2015 - <strong>2023</strong><br />
Published Date<br />
20-Nov-2015<br />
140 Page Report<br />
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Press Release<br />
Manufacturers of Agrochemicals and Other <strong>Specialty</strong> <strong>Chemicals</strong><br />
Moving Focus to Asia Pacific for Better Opportunities, reports<br />
TMR<br />
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<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
REPORT DESCRIPTION<br />
<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share, <strong>Growth</strong>, Trends and Forecast 2015<br />
- <strong>2023</strong><br />
The competitive arena for specialty chemicals is extremely fragmented as most companies prefer to<br />
sign short term contracts for these chemicals from local manufacturers. BASF SE, The Dow Chemical<br />
Company, and Bayer AG - the top three providers of specialty chemicals in the world - collectively<br />
held only 10.6% of the market value in 2014.<br />
While the top players hold a relatively smaller share in the specialty chemicals market, their rate of<br />
forward integration is very high. This allows them to ensure a consistent supply of specialty chemicals<br />
to high demanding regions.At the same time, new entrants can expect to face strong competition from<br />
current players, according to Transparency <strong>Market</strong> Research. Existing players possess the advantage of<br />
economies of scale, thereby improving their cost-based competitive edge over new entrants.<br />
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APAC Raises Demand for Agrochemicals, Attracts More <strong>Specialty</strong> <strong>Chemicals</strong> Manufacturers<br />
“The Asia Pacific contains a large concentration of regional players in the specialty chemicals market,”<br />
states a TMR analyst. “This is due to the exceptionally high demand for agrochemicals in the region.<br />
This applies especially to China and India who therefore become the key regions demanding<br />
agrochemicals.”<br />
A high demand for specialty chemicals is also seen in Latin America due to a growing concern over<br />
product quality.<br />
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<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
Demand for Coated Paper Reduces in North America and Europe, Denting Demand for <strong>Specialty</strong><br />
<strong>Chemicals</strong><br />
Europe and North America are showing a significant reduction in the consumption of coated papers,<br />
causing a downturn for providers of paper chemicals in the two regions. Both regions are evolving in<br />
the sense of text and media and moving towards the digital medium for the dissemination of<br />
information and news. This is having a visible impact on the paper industry and consequently, the<br />
specialty chemicals players that focus on paper coatings.<br />
Multiple paper coating manufacturers have had to change product types or even shut down due to the<br />
reduction in demand, which includes Resolute Forest Products, Inc., which had to shut down its<br />
Laurentide Mill in 2014.<br />
The global market for specialty chemicals is expected to expand at a CAGR of 4.7% within a forecast<br />
period from 2015 to <strong>2023</strong>. This market is expected to reach US$871.5 bn by the end of 2016 and<br />
US$1,210.1 bn by the end of <strong>2023</strong>.<br />
Asia Pacific is expected to consistently dominate the specialty chemicals market in terms of demand,<br />
owing to a largely agrarian population with a very high demand for agrochemicals. By the end of <strong>2023</strong>,<br />
this region is expected to take up 54.4% of the market volume.<br />
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The product segment of agrochemicals itself is otherwise showing a steady growth rate. It is expected<br />
to take up 13.5% of the market volume. Besides this, there is a high collective demand for specialty<br />
chemicals from water management, nutraceuticals, cosmetic chemicals, printing inks, feed additives,<br />
flavors and fragrances, and a few others. This collective segment is expected to take up 21.5% of the<br />
market volume by <strong>2023</strong>.<br />
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<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
The information presented in this review is based on a Transparency <strong>Market</strong> Research report, titled,<br />
“<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong> - Global Industry Analysis, Size, Share, <strong>Growth</strong>, Trends and<br />
Forecast 2015 - <strong>2023</strong>.”<br />
Key Takeaways:<br />
• Revenue generated in global specialty chemicals market expected to reach US$1,201.1 bn by<br />
<strong>2023</strong>.<br />
• Agrochemicals expected to generate US$162.8 bn in revenue for specialty chemicals players by<br />
<strong>2023</strong>.<br />
• China is expected to generate a revenue of nearly US$37 bn for agrochemical-based specialty<br />
chemicals in <strong>2023</strong>.<br />
Key segments of the Global <strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
Global <strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong>, by Product<br />
• Agrochemicals<br />
• Polymers & Plastic Additives<br />
• Construction <strong>Chemicals</strong><br />
• Electronic <strong>Chemicals</strong><br />
• Cleaning <strong>Chemicals</strong><br />
• Surfactants<br />
• Lubricants & Oilfield <strong>Chemicals</strong><br />
• <strong>Specialty</strong> Coatings<br />
• Paper & Textile <strong>Chemicals</strong><br />
• Food Additives<br />
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<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
• Adhesives & Sealants<br />
Global <strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong>, by Region<br />
• North America<br />
• Europe<br />
• Asia Pacific<br />
• Rest of the World<br />
Browse All Chemical & Materials <strong>Market</strong> Research Reports:<br />
http://www.transparencymarketresearch.com/chemical-market-reports-2.html<br />
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insight for thousands of decision makers.<br />
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<strong>Specialty</strong> <strong>Chemicals</strong> <strong>Market</strong><br />
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