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(Transportation-News.com, September 12, 2019 )
Market Overview
The global Specialty Chemicals Market was valued at USD xx million in 2018. The research at DMI yielded diverse opinions about the market with the worldwide Specialty Chemicals market forecast valuation pegged at USD xx million by 2028.
The research also revealed that the global Specialty Chemicals Market size is expected to grow at a CAGR of xx% during the forecast period (2019-2026).
Growth Factors of the Specialty Chemicals Market
Across the globe, chemical producers are slowly heading towards the specialty chemicals from commodity chemicals. Shift from price-sensitive chemicals to low-volume, high value and high margin specialty chemicals are seen in the industry from the past decade.
The substantial enlargement of specialty chemicals across the world is a positive indicator of the new trend.
What are the application segments of Global Specialty Chemicals Market?
• High demand for function-specific chemicals is increasing the market for the use of Speciality chemicals. They provide a wide variety of effects on which many other industry sectors depend upon.
• The upsurge of high-performance coatings and increased demand in end-user industries such as construction, automotive and electronics are the other factors attributing to the growth of the market. Industrialization in Asia-Pacific supplemented by low labor cost and economic growth also drives demand.
“Automotive Industry holds major share in Speciality chemicals Market.”
• Automotive is a fast-growing industry which is creating a high demand for paints, coatings, lubricants, adhesives, and others to reduce weight and foster cost savings.
• The automotive industry is gradually replacing the welding activities of engine parts assembly with adhesives and sealants products to reduce the vehicle weight, which in turn increases fuel efficiency. Specialty chemicals are accounting for about 20% of overall vehicle weights and also efficient in meeting the emission & sustainability guidelines and regulations.
Market Segmentation
Specialty Chemicals Market is segmented based on various criteria into the following categories
Based on the type
• Adhesives & Sealants
• Catalysts
• Construction Chemicals
• Cosmetic Chemicals
• Dyes
Based on End Users
• Automotive & transportation
• Construction
• Industrial manufacturing
• Consumer goods
• Others
Based on Geography
• North America,
• South America,
• Europe,
• The Asia Pacific and
• RoW
View Full Report: https://www.datamintelligence.com/research-report/specialty-chemicals-market
Market Trends
• In 2015, Solvay acquired the US-based Cytec to upgrade its portfolio of advanced materials.Mitsubishi has shifted its focus towards the specialty chemicals by shutting down its ethylene crackers business and investing in carbon fiber and composites, organic photovoltaic modules and organic photo-semiconductors.
Major key player are:
• BASF SE
• Evonik Industries AG
• Henkel AG & Co. KGaA
• Solvay S.A.
• Albemarle Corporation
• PPG Industries
• Uniseal Inc
• Others.
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