Product Overview
Specialty chemicals, also referred to as performance chemicals or effect chemicals are the chemicals used to create the desired effect in products or substances. Specialty chemicals are produced to meet performance-specific requirements. They are produced in batch chemical plants with the help of batch processing techniques. Specialty chemicals are manufactured in lesser volumes and for specific uses. Specialty chemicals can be single chemical formulations or entities whose composition affects the performance and functioning of the consumer’s product. Specialty chemicals are used under diverse categories including agrochemicals, adhesives, construction chemicals, cleaning materials, industrial gases, and food additives. Specialty chemicals find application across a wide range of industries such as automotive, consumer goods, food processing, packaging, pharmaceuticals, and cosmetics.

Market Highlights
Global Specialty Chemicals Market is expected to project a notable CAGR of 5.60% in 2030.
Global Specialty Chemicals Market to surpass USD 982.42 billion by 2030 from USD 670.5 billion in 2019 at a CAGR of 5.60% in the coming years, i.e., 2020-30. Specialty Chemicals are experiencing an escalating demand from numerous industries including automotive, construction, food and beverages, and electronics. In addition, the shift towards the environment and user-friendly specialty chemicals to edge out the conventional commodity chemicals is expected to observe a significant growth in the coming years.

Recent Highlights in Global Specialty Chemicals Market
In September 2020, Henkel AG & Co. KGaA announced to invest $23 million to expand its liquid hand soap and hand sanitizer manufacturing facilities in Geneva (Switzerland) and New York and Pennsylvania (U.S.), to meet the increasing demand for cleaning chemicals amid the COVID-19 pandemic.

In June 2019, BASF SE announced to invest in its coating business in Asia and expand its facility in Guangdong Province, Jiangmen, and south china which manufactures automotive coatings. This new facility will double the production capacity, to cater to the growing demand for automotive refinish coatings

Global Specialty Chemicals Market: Segments
Agrochemicals segment to grow with the highest CAGR during 2020-30
Global Specialty Chemicals market is segmented by Product type into agrochemicals, polymers & plastic additives, construction chemicals, electronic chemicals, cleaning chemicals, surfactants, lubricants & oilfield chemicals, food additives, and others. Agrochemicals, segment held the largest market share in the year 2019 owing to the increasing population and shortage of arable land. This has increased the attention on raising crop yields. Various specialty chemical companies are developing yield-enhancing agrochemicals. Besides, the rising awareness and knowledge among farmers regarding the usage of agrochemicals are anticipated to witness market growth in the future.

Building & construction segment to grow with the highest CAGR during 2020-30
Global Specialty Chemicals market is divided by End User into building & construction, oil & gas, paints & coatings, agriculture, electrical & electronics, automotive, food & beverages, cosmetics & pharmaceuticals, aerospace & defense, textile, pulp & paper and Others. The building & construction segment held the largest market share in the year 2019 and will continue to dominate the market in the coming years. Rising government expenditure on construction activities and the development of public infrastructure is likely to boost the demand for specialty chemicals. Specialty chemicals provide extra protection in buildings from environmental hazards and enhance the durability of construction chemicals. These chemicals also find application in several construction projects during renovation and in constructing high buildings.

Market Dynamics
Drivers
Shift from Commodity Chemicals to Specialty Chemicals
Specialty chemicals are used as an alternative to commodity chemicals due to stringent laws on using petroleum-based products which are estimated to grow the specialty chemicals market. With the growing concern regarding the harmful effects of conventional chemicals on the environment as well as on humans has encouraged the need for environment-friendly and user-friendly specialty chemicals. As a result, many players in the market have shifted their focus towards the production and selling of specialty chemicals in order to outperform conventional fine and commodity chemical manufacturers.

Growing demand from Automotive Industry
Automotive manufacturing industry is one of the significant end-users of a specialty market. The high demand for lubricants, adhesives, paints, and coatings for weight reduction and to enhance the performance of the vehicles is estimated to propel the market growth. Lightweight automotive components such as fenders, energy absorbers, and instrument panels are manufactured using specialty chemicals as a raw material thereby boosting the market growth of the specialty chemicals market.

Restraint
Fluctuation in Cost of Raw Material
Constant fluctuations in the prices of raw material of specialty chemicals is expected to hamper the market growth in the coming years. Many specialty chemicals are produced using petroleum-based commodity chemicals. Fluctuations in the cost of crude oil affect the input price of specialty chemicals, hence reducing the profitability of market players.

Global Specialty Chemicals Market: Key Players
Akzo Nobel N.V

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

BASF SE
Ashland Inc
Clariant AG
Evonik Industries
The Dow Chemical Company
Huntsman Corporation
DuPont
Arkema S.A.
Bayer AG
Chevron Philips Chemical Company
Syngenta AG
Other Prominent Players
Global Specialty Chemicals Market: Regions
Global Specialty Chemicals Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa. Global Specialty Chemicals Market in Asia Pacific held the largest market share in the year 2018. Asia Pacific will continue to dominate the global Specialty Chemicals market owing to rising investment in construction and infrastructure development projects. Furthermore, mounting research and development activities in this region has resulted in the development of advanced specialty chemicals which is projected to bolster the market growth.

Global Specialty Chemicals Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Specialty Chemicals Market report also contains analysis on:
Specialty Chemicals Market Segments:

By Product Type
Agrochemicals,
Polymers & Plastic Additives,
Construction Chemicals,
Electronic Chemicals,
Cleaning Chemicals,
Surfactants,
Lubricants & Oilfield Chemicals,
Food Additives
Others.
By Function
Antioxidants
Biocides
Catalysts
Enzymes
Separation Membranes
Specialty Coatings
Specialty Pigments
others
By Application
Building & Construction
Oil & Gas
Paints & Coatings
Agriculture
Electrical & Electronics
Automotive
Food & Beverages
Cosmetics & Pharmaceuticals
Aerospace & Defense
Textile
Pulp & Paper
Others
Specialty Chemicals Market Dynamics
Specialty Chemicals Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Related Reports: Global Greenhouse Irrigation System Market Analysis and Forecast Report 2030

The post Global Specialty Chemicals Market Analysis and Forecast Report 2030 first appeared on CRI Report.

Market insights:

The polymer additives market in India was valued at INR 48.29 Bn in FY 2019 and is expected to expand at a compound annual growth rate (CAGR) of ~7.23% during the FY 2020-FY 2025 period, to reach a value of INR 72.56 Bn by FY 2025. Growing popularity of plastic materials as a substitute for other packaging and input materials is a leading factor driving the growth of the polymer additives market in India. Increased government participation in encouraging domestic production of raw materials and end-use products, and implementation of policy measures by the central government to promote the manufacturing of fuel-efficient vehicles are other key factors driving market growth. On the other hand, the toxic nature of polymer additives and a constant fluctuation in the prices of its raw materials, including crude oil, disrupt the stable growth of the polymer additives market.

Segment insights:

The polymer additives market in India is segmented into plasticizers, heat stabilizers, antioxidants, and other polymer additives. As of FY 2019, the polymer additives market was dominated by the plasticizers segment which accounted for about 40% of the total market revenue. During the FY 2020-FY 2025 period, the plasticizers segment is expected to be the fastest growing segment, expanding at a CAGR of ~8.63%. The stabilizers and antioxidants segments are anticipated to witness a high growth rate of ~8.50% and ~7.88%, respectively, during the FY 2020-FY 2025 period.

COVID-19 impact analysis:

The long-term nationwide lockdown in wake of the pandemic had a substantial impact on the polymer additives market in India. During the pandemic period, the country’s prominent end-user industries like automotive, electronic appliances, construction, and white goods were severely affected in terms of their potential production as well as sales. Polymer additives, being one of the essential raw materials used by these end-use industries for the production of their input components, the polymer additives market witnessed a significant fall in its market demand. Thus, the impact of COVID-19 on the end products manufacturing industries marked a proportional and equivalent impact on the polymer additives market as well.

Companies covered:

• Amines and Plasticizers Limited
• Clariant Chemicals (India) Limited
• HPL Additives Limited
• KLJ Plasticizers Limited
• Payal Polyplast Private Limited
• Adeka India Private Limited
• Baerlocher India Additives Private Limited
• Lanxess India Private Limited

The post Polymer Additives Market in India 2020 first appeared on CRI Report.

Key deterrents to the growth of the market
The specialty chemicals market in India is operated mostly by small-scale firms that cannot compete with large firms functioning in the global market. Moreover, the demand and supply of specialty chemicals largely depend on the demand from end-user industries. Therefore, a minor change in the operation of end-user industries leads to significant implications in the specialty chemical market. Due to the fragmented nature of the market and high dependence on end-user industries, specialty chemicals companies in India face stiff competition, with buyers switching brands based on product quality and price.

Companies covered
• Aarti Industries Limited
• Atul Limited
• BASF India Limited
• Bodal Chemicals Limited
• Deepak Nitrite Limited
• Galaxy Surfactants Limited
• PI Industries Limited
• Pidilite Industries Limited
• SRF Limited
• Vinati Organics Limited

The post Specialty Chemicals Market in India 2019 first appeared on CRI Report.

Key growth drivers of the market:
o India has a huge technically skilled workforce which helps boost the specialty chemicals market in the country. As of 2016, 51.09% of the total population of science, technology, engineering and math (STEM) graduates were from India. Apart from the availability of a large educated population, India offers unskilled labor at much lower wages as compared to other countries. The availability of a large talent pool, along with a nominal wage rate makes India an attractive production hub for various foreign companies. This, in turn, acts as a driving force for the specialty chemical market in India.
o The Chinese government announced the closure of various chemical companies that produced hazardous waste, which led to disruption of the supply chain. The developed markets are, therefore, now focusing on having an alternative supplier of chemicals apart from China to ensure an uninterrupted supply of end products, making Indian players more competitive.
Key deterrents to the growth of the market:
o In the specialty chemicals market, only a few Indian players have the capability to compete with global giants in terms of product development and innovation. As a result, Indian specialty chemical manufacturers are generating less revenue, and sales has also dropped as compared to foreign companies.
o Indian specialty chemical manufacturers are often forced to deal with cyclicality, especially in the textile manufacturing sector. Therefore, companies face difficulty in surviving during periods of low demand. This, in turn, hampers the growth of small specialty chemical manufacturers of India.

Companies covered:

o Aarti Industries Limited
o Bodal Chemicals Limited
o Deepak Nitrite Limited
o Ion Exchange (India) Limited
o Meghmani Organics Limited
o NOCIL Limited
o SRF Limited
o Sudarshan Chemical Industries Limited
o Sunshield Chemicals Limited
o Vinati Organics Limited

The post Specialty Chemicals in India (2018-2023) first appeared on CRI Report.