Specialty chemicals are sold on the basis of their performance rather than their chemical composition of single entity or complex composition. Intense knowledge is required to deliver products and services in the specialty chemicals segment. Due to which specialty chemical vendors produced higher sales volume and revenues in 2010 with an increase in the production cost as well. Major segments of specialty chemicals include specialty polymers, industrial and institutional cleaners, pesticides, electronic chemicals and construction chemicals altogether contributing 38% of the overall market.
The global specialty chemicals market is estimated to reach USD 1080.1 billion in 2017 with an increase of 58% from 2010. Asia Pacific accounts for more than 37% of the global specialty chemicals market closely followed by North America. China specialty chemicals market is expected to reach USD 199 billion in 2015, registering a CAGR of 7.1% during 2010-2015.
FIG. 1 World Consumption of specialty chemicals in 2011
Specialty chemicals are widely used in agrochemicals, adhesives, food additives, electronic chemicals, construction chemicals, petrochemical catalyst and other industry verticals. One of the major factor driving the specialty chemicals is that it helps in improving health with a concept of eco friendly cleaning and rescuing the environment with natural extracts to replace chemical food additives.
The report contains the global scenario of Specialty Chemicals Market discussing detailed overview and market figures. The research report analyses the industry growth rate, industry capacity, and industry structure. The report analyses the historical data and forecasts the Specialty Chemicals Market size, production forecasts along with key factors driving and restraining the market.