Specialty Chemicals Market is Expected to Expand at an Impressive Rate by 2023

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Specialty Chemicals Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2023

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• Global Specialty Chemicals Market Overview

• 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.

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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. 

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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. 

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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.

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