Specialty Chemicals Market Overview:
Global Specialty chemicals market is expected to reach $233.5 billion by 2020. Specialty chemicals are manufactured for specific performance and functions in different end use industries.
There are numerous specialty chemicals used in several end-user industries, globally; however, specialty chemicals included in this report are food additives, cosmetic chemicals, water treatment chemicals, paper & pulp chemicals, textile chemicals, construction chemicals, and oil field chemicals.
The market is segmented based on type and geography. The global specialty chemicals market has been analyzed on the basis of type, which includes food additives, cosmetic chemicals, water treatment chemicals, paper & pulp chemicals, textile chemicals, construction chemicals, and oil field chemicals. In 2014, the construction chemicals segment garnered the highest share of 22.3% in the global market. Increasing urbanization in emerging economies is driving public infrastructure and housing projects; this in turn has increased the consumption specialty construction chemicals such as protective coatings, adhesives and sealants, concrete admixtures, and asphalt additives. The construction chemicals industry is booming in emerging economies such as Asia-Pacific, the Middle East, Africa, Central and South America. In 2014, food additives, cosmetic chemicals, and paper & pulp chemicals collectively accounted for around half of the global specialty chemicals consumption. Ink additives is projected to be the fastest growing segment, registering a CAGR of 5.8% during the forecast period.
In 2014, food additives, cosmetic chemical, and paper & pulp chemicals collectively accounted for around half of the global specialty chemicals consumption. Water treatment chemical is projected to be one of the fastest growing segment, registering a CAGR of 5.6% during the forecast period. Stringent government regulations for proper utilization of water compels industries and municipal corporations to adopt water treatment solutions, which in turn is fueling the demand for water treatment chemicals.
Based on geography, the global specialty chemicals market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Historically, developed regions such as North America, Europe, and Japan were the major consumers of specialty chemicals. However, now the trend is shifted and in 2014, the Asia-Pacific region dominated the market, accounting for almost 35% of the global market share and would consolidate its position throughout the forecast period. Asia-Pacific is also the fastest growing specialty chemicals market in the global, registering a CAGR of 5.4% during the forecast period (2015-2020).
The demand for specialty chemicals in the Asia-Pacific market is primarily attributed by the rapid industrialization in India, China, Japan, South Korea, and Taiwan. Rapid industrialization in the Asia-Pacific region is supplemented by trade liberalization, the spread of process technology, low labor cost, and high economic growth. In 2014, North America and Europe together accounted for more than half of the market share in the global specialty chemicals market.
The global specialty chemicals market generated a revenue of $175,377.2 million in 2014 and is projected to garner $233,570.1 million by 2020, registering a CAGR of 4.9% during the analysis period.
Top Winning Strategies
Top market players in global specialty chemicals market are adopting acquisitions, agreements, expansions, partnerships, product launches, and divestitures as their key business strategy to sustain in the competitive market. The data of market players and their strategic moves are gathered through the press release of respective companies, various blogs, which is limited to the available information on the website and primary calls to the experts in the industry. Strategic moves that are tracked from the recent developments of the key companies in this industry include:
The pie chart depicted the top strategies adopted by the market players:
Top Winning Strategies for global Specialty Chemicals Market, 2012‐2015 (%)
Source: Primary Research, Company Publications, and AMR Analysis
The pie chart represents the percentage split of the strategies adopted by top companies in the global market. Product launches is the leading strategy adopted by the key market players in the global specialty chemicals market in order to introduce novel and innovative products in various business segments such as ink additives, oilfield chemicals, and construction chemicals. Product launches by the market players cover 42.9% share out of the total number of strategies. Akzo Nobel N.V., Novozymes, Rhodia S.A., Clariant AG and Evonik Industries AG are the leading companies who adopted product launch as their key business strategy.
Acquisitions, expansions, and divestitures are the second most popular strategies adopted by companies operating in the global specialty chemical business. Most of the divestiture strategy was adopted by BASF SE; while, most acquisitions were undertaken by BASF SE, AkzoNobel N.V., and Huntsman Corporation. Clariant AG and Evonik Industries AG focused more towards expansion of new business units.
SPECIALTY CHEMICALS MARKET KEY BENEFITS:
- The specialty chemicals industry projections and applications in the report are made by analyzing the current trends, share and size and future potential for the period of 2014-2020 in terms of value.
- Region-wise industry outlook and conditions are comprehensively analyzed in the report.
- Exhaustive analysis of the global specialty chemicals market by type helps in understanding the types of specialty chemicals that are currently being used along with the variants that would gain prominence in the future.
- Competitive intelligence (of leading manufacturers and distributors of specialty chemicals) helps in understanding the competitive scenario across geographies.
- The report provides a quantitative analysis through 2014-2020, which would enable the stakeholders to capitalize on prevailing opportunities.
- Key players within the market are profiled in the report and their strategies are analyzed thoroughly, which helps in understanding the competitive outlook of global construction chemicals market.
SPECIALTY CHEMICALS MARKET KEY SEGMENTS:
The global specialty chemical market is segmented as:
- Food Additives
- Cosmetic Chemicals
- Water Treatment Chemicals
- Paper & Pulp Chemicals
- Textile Chemicals
- Construction Chemicals
- Oil field Chemicals
- Ink Additives
- North America