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Specialty Chemicals Market is Expected to Expand at an Impressive Rate by 2023<br>
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Specialty Chemicals Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2023 ©2019 Transparency Market Research, All Rights Reserved
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Specialty chemicals are mainly produced by a complex as well as interlinked industry. These chemicals are a type of chemical product which are mainly sold based on their function and performance, instead of their composition. • Such chemicals either can be found as a single-chemical entity or as complete formulations. Their composition helps in enhancing the performance as well as processing of customers’ desired product. • With rapidly mushrooming urbanization, industrialization, and increasing standard of living, the requirement of high-performance chemicals like specialty chemicals is rising at a breathneck speed. Global Specialty Chemicals Market: Overview View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved
Agrochemicals Has Largest Share in Specialty Chemicals Market • On the basis of product, the global specialty chemicals market has been divided into following segments – cosmetic chemicals, food additives, textile chemicals, agrochemicals, water treatment chemicals, construction chemicals, ink additives, oil field chemicals, and paper & pulp chemicals. • The construction chemicals segment registered the highest share of 22.3%. This is due to the rising urbanization such as growing housing projects and public infrastructure in developing countries, which further augments the demand for specialty construction chemicals, specially adhesives and sealants, protective coatings, asphalt additives, and concrete admixtures. • However, in high-end markets such as Central and South America, Asia Pacific, and the Middle East and Africa, the popularity of construction chemicals is expected to continue.
Flourishing Paper and Textiles Industry in Asia Pacific to Contribute to Market Demand Geographically, Asia pacific is expected to grab 54.4% of the global specialty chemicals market value by 2023 end, as the region has seen rapid industrialization. Rising demand for specialty chemicals from agricultural industry, growing paper and textiles industry, and increasing disposable income could be responsible for fueling specialty chemicals market in this region. Countries like China and India contributes more in this regional market as these countries have witnessed high extent of agriculture trade and exports along with rapid growth in paper and textiles industry. Apart from these, rising consumption of paper and apparel, and rapid establishment of several manufacturers are also expected to boost the global specialty chemicals market. ©2019 Transparency Market Research, All Rights Reserved
Some of the most prominent companies operating in Market Dow Chemical Company BASF SE INEOS Group AG Clariant AG Eastman Chemical Company Evonik Industries AG Akzo Nobel N.V. ©2019 Transparency Market Research, All Rights Reserved
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