Speciality Chemicals

chemical distributors directory, chemical suppliers directory,The global Specialty Chemicals market was estimated at USD 610 billion in 2019 and is expected to reach USD 940 billion by 2026. The global Specialty Chemicals market is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2020 to 2027.

Global Specialty Chemicals Market Growing On The Back Of Growing Demand For Specialty Chemicals In The Developing Nations, Growing Demand For Adhesives And Sealants, Rapid Industrialization, The Growing Construction Sector & The Growing Consumption In The Automotive, Construction, Electronics and Medical Industry.

Specialty chemicals are the combination of multiple chemical substances composed for delivering to specific applications across segments. The research and development in the specialty chemicals segment have widened the application in industry verticals such as Agrochemicals, Cleaning and Cosmetics, Electricity and Electronics, Food and Beverage, Construction Industry, Automobile Industry, Paper, and Pulp Industry, Plastic Industry as well as Oil and Gas Exploitation Industry. The specialty chemicals are produced through research by individual companies and therefore providing reluctance in interchangeability in many applications.

The companies in the market are addressing the growing competitiveness in the market by researching and introducing on multiple chemical types in the market. The companies are aggressively adopting market penetrating strategies by engaging in business expansion in the high consumption economies like China and India. The companies are expanding the production capacities for meeting the market development such as widening applications and growing end user industries. The companies are also emphasizing improved customer service and quality of products. The clients are focused on the function and performance of the specialty chemical which forms a major base for decision making in the end-user segment.

During the upcoming years, the rising demand for specialty chemicals and growing demand for adhesives and sealants are the major driving factors of the markets. Additionally, the growing consumption in the automotive, construction, electronics and medical industry is further enhancing the market growth. The growing demand for specialty chemicals in the developing nations coupled with rapid industrialization is expected to provide the future impetus for market expansion. The growing construction sector leading to increased demand for adhesives and sealants is also expected to contribute towards the market growth.

Top Market Players
Some of the leading and top Specialty Chemicals companies in the global Specialty Chemicals market include DowDuPont, BASF SE, Henkel AG, Akzo Nobel, Ashland Inc., Solvay SA, Evonik Industries AG, Lanxess, Clariant AG, Exxon Mobil Corporation, Albemarle Corporation, Bayer AG, Chevron Phillips Chemical Company, among others. The DuPont, Dow Chemicals, BASF, Akzo Nobel are anticipated to remain the top revenue-generating companies in the market. Advertise here


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Last listing added: Feb 17, 2021

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