Summary
Global Specialty Chemicals Market-Segmented By Type and Geography-Trends and Forecasts ( 2017- 2022 ). The global specialty chemicals market , on the basis of type can be broadly segmented into adhesives & sealants , catalysts , construction chemicals , cosmetic chemicals , dyes , inks , & pigments , electronic chemicals , flavors & fragrances , food additives , foundry chemicals , industrial & institutional cleaners etc …
Description
The global specialty chemicals market was valued at USD XX billion in 2015 , and is likely to reach USD XX billion by 2020 , growing at a CAGR of XX %, during the forecast period ( 2017 - 2022 ).
Specialty chemicals are generally defined within the chemical industry as niche chemicals and polymers with unique functions to enhance performance . They are used in a variety of industries , including waste water treatment , textiles , paints , agriculture , oil & gas , electronics and consumer goods . Construction chemicals , specialty polymers and electronic chemicals hold the highest market segment collectively accounting for about 30 % of the market share , due to their demand from their end user industries . The key markets for these chemicals include electronics , textiles , construction and agro chemicals industry .
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The specialty chemicals industry has experienced slower growth and lower overall profitability within a more competitive environment in the past 10 years , than in the preceding period . After dropping 10 % in value from 2008 to 2009 , consumption grew 16 % in 2010 , only to fall again in 2011 . After a very slow growth of less than 1 % in 2012 , consumption rebounded 7 % in 2013 and grew another 4 % in 2014 . During 2015-20 , volume consumption of specialty chemicals is expected to increase at close to 4 % on a global basis . The combined consumption in North America , Western Europe and Japan will grow more slowly at about 3.3 % per year .
The global specialty chemicals market is driven by number of factors such as growing demand for highperformance coatings , continuous shale gas development boosting demand for polyolefin catalysts , and rising demand from end-user industries . However , this market faces certain drawbacks such as low crude oil prices and stringent environmental regulations governing specialty chemicals . The aforementioned factors may act as a roadblock to the growth of the market .
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The global specialty chemicals market , on the basis of type can be broadly segmented into adhesives & sealants , catalysts , construction chemicals , cosmetic chemicals , dyes , inks , & pigments , electronic chemicals , flavors & fragrances , food additives , foundry chemicals , industrial & institutional cleaners , lubricants & oil additives , oil field chemicals , mining chemicals , paints & coatings , plastic additives , rubber processing chemicals , specialty polymers , textile chemicals , and water treatment chemicals . The
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