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Key takeaways from Specialty Chemicals Market study
- The Specialty Chemicals Market to increase by USD 155.04 billion at 3.41% CAGR from 2020 to 2025
- 2.35% year-over-year growth expected in 2021
- 62% market growth to originate in APAC during the forecast period
- The agrochemicals segment accounted for maximum growth in the market.
- Dominant vendors include Albemarle Corp., BASF SE, Clariant International Ltd., Dow Inc., Evonik Industries AG, Henkel AG, and Co. KGaA, Huntsman Corp., and others.
Vendor Landscape
The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the global performance chemicals market.
Albemarle Corp., BASF SE, Clariant International Ltd., Dow Inc., Evonik Industries AG, Henkel AG and Co. KGaA, Huntsman Corp., Nouryon Chemicals Holding BV, Saudi Basic Industries Corp., and Solvay SA among others are some of the few key vendors competing to maintain their market position in the market.
The vendors in the market compete on the basis of factors such as price, quality, innovation, reputation, and distribution network. While some companies are more specialized than others with respect to particular commodities, others have larger financial resources.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
- Segmentation by End-User:
- Agrochemicals:
- During the projected period, the agrochemicals category will gain considerable market share in specialty chemicals. The agrochemicals segment is growing due to the rise of modern-day cultivation such as floriculture and horticulture, rising literacy among farmers, and rising knowledge regarding the usage of pesticides and fertilizers in major agriculture-focused countries.
- Lubricant and Oilfield chemicals
- Adhesives and Sealants
- Industrial and Institutional Cleaners
- Others
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Specialty Chemicals Market: Growth Drivers and Challenges
The increasing demand for specialty chemicals from the agrochemical industry is one of the major factors driving the Specialty Chemicals Market.
The agriculture business is being impacted by the expanding global population and shrinking arable land. As a result of the scarcity of arable land, more emphasis is being placed on increasing food yields to support the world's fast-growing population. Crop yields must be increased due to a lack of adequate food storage infrastructure and inefficient distribution of food grains. Specialty chemical businesses are developing new yield-enhancing agrochemicals to suit this need. The need for these agrochemicals is increasing, propelling the worldwide specialty chemicals industry forward.
"Although the increasing demand for specialty chemicals from the agrochemical industry will further boost the market growth, the stringent regulations and policies might reduce the growth opportunities for market players", says an analyst at Technavio.
Specialty Chemicals Market report answers questions such as:
- Is the market structure fragmented or concentrated?
- What was the market size in 2020 and the forecast of the Specialty Chemicals Market through 2025?
- Which are the best segment areas to invest in over the forecast period?
- What is the market share of dominant and strong vendors in the Specialty Chemicals Market?
- What are the latest trends and regulatory frameworks in the Specialty Chemicals Market?
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Specialty Chemicals Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.41% |
Market growth 2021-2025 |
$ 155.04 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.35 |
Regional analysis |
APAC, North America, Europe, South America, and MEA |
Performing market contribution |
APAC at 62% |
Key consumer countries |
China, US, Japan, Germany, and South Korea (Republic of Korea) |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Albemarle Corp., BASF SE, Clariant International Ltd., Dow Inc., Evonik Industries AG, Henkel AG and Co. KGaA, Huntsman Corp., Nouryon Chemicals Holding BV, Saudi Basic Industries Corp., and Solvay SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Agrochemicals - Market size and forecast 2020-2025
- Lubricant and oilfield chemicals - Market size and forecast 2020-2025
- Adhesives and sealants - Market size and forecast 2020-2025
- Industrial and institutional cleaners - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2020-2025
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Albemarle Corp.
- BASF SE
- Clariant International Ltd.
- Dow Inc.
- Evonik Industries AG
- Henkel AG and Co. KGaA
- Huntsman Corp.
- Nouryon Chemicals Holding BV
- Saudi Basic Industries Corp.
- Solvay SA
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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