San Francisco, California, May 26, 2017: A new research report by TMR Research provides a detailed overview of the global specialty chemicals market and throws light on the factors that are predicted to impact the market’s growth in the approaching years. The research report, titled “Specialty Chemicals Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” highlights the growth prospects, barriers, and the current trends in the market. In addition, the key segmentations of the global specialty chemicals market, along with the regional outlook and competitive landscape have been discussed at length in the scope of the research report.
The global market for specialty chemicals is projected to grow substantially with the rising need for yield-improving specialty chemicals. This is predicted to fuel the growth of the overall market throughout the forecast period. In addition to this, the increasing number of applications of specialty chemicals, especially in the automotive sector is projected to accelerate the growth of the market in the near future. However, the strict regulatory framework imposed by governments, across the globe concerning the use of specific specialty chemicals is considered to restrict the market’s growth in the coming years.
Nonetheless, the development of the construction and automotive industries, particularly in emerging economies worldwide is estimated to encourage the growth of the global specialty chemicals market over the forecast period. Thanks to these factors, the market is likely to register a strong growth rate in the coming years.
North America, in the last few years, accounted for a massive share of the global specialty chemicals market and is expected to lead throughout the forecast period. The robust growth of this segment can be ascribed to the growing demand for oilfield lubricants and chemicals, thanks to the increasing exploration activities for in different parts of North America. The oil and gas industry in Asia Pacific is likely to experience a promising growth in the next few years, offering lucrative opportunities for the key players operating in this region. The rising contribution from China, India, and Japan and the increasing expenditure in the construction sectors are projected to supplement the growth of the specialty chemicals market in the coming years.
Some of the leading players operating in the specialty chemicals market across the globe are The Dow Chemical Company, Chevron Philips Chemical Company, BASF SE, DuPont, Syngenta AG, Solvay, Bayer AG, Albemarle Corporation, Akzo Nobel N.V., Eastman Chemical Company, Huntsman Corporation, Clariant AG, Chemtura Corporation, Ashland Inc., Arkema S.A., INEOS Group AG., and Evonik Industries AG. The presence of a large number of players and the anticipated entry of new players are projected to strengthen the competitive landscape of the overall market in the next few years.