New York, NY, June 05, 2016 --(PR.com
)-- Worldwide Specialty Chemicals market to be worth more, close to US$ 1 billion, by 2021
The specialty chemicals market is expected to be worth a little less than US$1 billion by 2021. With market posing such a potential there are a number of companies that have started capturing a share in this market and many more expected by the end of the forecast period. As of date, Beige Market Intelligence analysts have identified Akzo Nobel, BASF, DOW, DuPont and Lanxess as the top 5 leading vendors in the Strategic Assessment of Worldwide Specialty Chemicals Market - Forecast till 2021.
The evolving landscape of the chemical industry has allowed for numerous participants to enter this market which was once dominated by the large players in the chemicals market. As of date, there are more than 5 key applications of specialty chemicals that by themselves are driving the vast portion of the specialty chemicals market. Other factors such as the consensus between federal governments across the world on reduction of carbon emissions to counter climate change is also driving the market for specialty chemicals which are being used to increase energy efficiency to reduce carbon footprint.
APAC to account for more than 40 percent of the specialty chemicals market by 2021
The APAC region as of date is the leading the specialty chemicals market and is continued to continue by the end of the forecast period. On account of cheap factors of production, progressive government policies and huge domestic consumption, the region is the hub for chemical manufacturing, as the leading chemical companies across the world set up their manufacturing locations in the region. While the developed markets in Europe and North America are unable to keep pace with the growth of emerging markets of Asia, these markets are growing both in consumption size and purchasing power. The region is expected to account for a little less than US$ 500 million by 2021 in the specialty chemicals market.
Dynamic competitive landscape in specialty chemicals market
The global specialty chemicals market is dominated by chemical majors such as Akzo Nobel, BASF, DOW, DuPont and Lanxess. These companies have an expanded portfolio of specialty chemicals with integrated distribution network and rely on their proprietary manufacturing technologies. They have manufacturing facilities located across the world and operate capacities through strategic partnerships and joint ventures. New capacities are being setup by them to ensure proximity and easy access to the fast growing markets of China, India, and other Southeast Asian countries.
The global specialty chemicals market is fragmented in nature because of the presence of a number of players. The factors play that major role in defining the competitive structure of this market are proprietorship over technology, economies of scale, R&D capabilities and level of vertical integration. R&D plays an important role as it enables a vendor to identify new applications for the product and gain first mover advantage. Production technology is an avenue that attracts intense R&D expenditure by major vendors as proprietorship over technology can turn out to be a promising revenue earning tool.
The report by Beige Market Intelligence has more than 130 pages of insights on the changing dynamics of the specialty chemicals market. This market research report includes a detailed market segmentation of the worldwide specialty chemicals Market by the following segmentation types:
1) Paints and Coatings
2) Polymers and Plastic Additives
4) Food Additives
5) Home-care Surfactant
6) Water Management Chemicals
7) Leather and Textile Chemicals
8) Construction Chemicals
9) Lubricant and Fuel Additives
10) Pulp and Paper Chemicals
3) Latin America
4) Middle East and Africa
5) North America
Market share analysis
1) APAC (Degree of competition and fragmentation of vendors in the region)
2) Europe (Degree of competition and fragmentation of vendors in the region)
3) Latin America (Degree of competition and fragmentation of vendors in the region)
4) MEA (Degree of competition and fragmentation of vendors in the region)
5) North America (Degree of competition and fragmentation of vendors in the region)
Why should you buy this market research report?
Specialty chemicals are those specific chemicals that are used for a single or a very limited number of applications. Commodity chemicals on the other hand can be used for a variety of applications and hence, when the commodity chemicals are manufactured in large volumes, there is no problem as there is always a market for these chemicals. The situation today however is very much different. There are a number of companies today that are targeting the specialty chemicals potential and this is possible because of the various factors that have contributed to this growth.
The study will tell the reader how the market has been performing over the last few years and how it is expected to perform over the next five years. Detailed analysis of the performance of the market is provided thereby providing the reader with key insights into what is taking place and how the market is being affected, both positively and adversely. Further to this, the specialty chemicals market is one where companies need to be aware of high potential applications in order to tap them today.