Specialty Chemicals Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2021 - 2026

 Overview

Specialty Chemicals Market is forecast to reach $588.41 billion by 2025, after growing at a CAGR of 5.51% during 2020-2025. The construction industry will boost consumer demand as a result of increased commercial and residential construction projects. Rising urbanization in developing regions has resulted in numerous upcoming housing projects increasing product demand. Further, it enhances the overall market demand.

Report Coverage

The “Specialty Chemicals Market Report– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Specialty Chemicals Market.




Key Takeaways

  • Asia-Pacific, due to its large customer base, has dominated the world economy, leading to high demand for specialty chemicals, rising industrial production and rapid growth in the region's construction sector.
  • Growing R&D is likely to provide an opportunity over the forecast period for the market studied to develop new products.
  • Paints and coatings dominated the market for specialty chemicals and are expected to grow over the forecast period, with robust growth in the construction industry, driven largely by growth in residential construction worldwide.
  • Increasing construction spending in BRIC nations has a positive impact on the size of the market for construction specialty chemicals and has created new opportunities for business growth.
  • In addition, the rising automotive sector in the region, such as China, India and Japan, is the main driver of business growth due to high per capita disposable income and improved customer lifestyle.

Type - Segment Analysis

Food Additives segment held the largest share in the Specialty Chemicals Market. Growing population and need for food which in turn increases the Food additives specialty chemicals. These are used to enhance the foods nutrient content, keep the product fresh and make the food more appealing. Furthermore, it also provides consistent and smooth texture along with maintaining the wholesomeness of food. Increasing living standards accompanied by rising consumer’s disposable income would drive growth for food additives in the next few years.

Application - Segment Analysis

Construction Chemicals sector has been the primary market for Specialty Chemicals by growing at a CAGR of 8.89%. The paints and coatings segment have wide range of applications in this sector, the market is estimated to record significant changes in respective countries. The top countries in the Construction & Infrastructure industry are expected to boom over the next five years. Americas and Europe are estimated to continue to emerge in the global glass landscape. Construction & Infrastructure end user further segmented into retail stores, restaurants and hotels, airports, hospitals, arts and exhibition centers, shopping malls, and others. Airports is the largest segment with the share of 22.7% followed by restaurants and hotels with 21.2%, and retail stores with 20.2%. Increase in spending of commercial construction especially in the developing countries such as China, India, and South Korea, will increase the demand of construct ion chemicals. Commercial construction will continue to grow in the future. With more consumer spending and governmental investments in tourism, office buildings and retail space, commercial construction businesses will reap the rewards

Location: United States

Comments

Post a Comment

Popular posts from this blog

Printed Tape Market - Forecast(2021 - 2026)

  Printed Tape Market  Overview Printed tape market size is forecast to reach  $38.4 billion by 2026 , after growing at a  CAGR of 5.9% during 2021-2026 . Printed tapes can help in spotlighting company, product or logo and can be also used as an alternative for printed cartons in tapes, owing to the printed tape market is witnessing an increase in demand. These printed tapes are hot melt and have fast adhesive strength of synthetic rubber even in lower temperatures as compared to acrylic adhesive, which is more resistant to aging and UV radiation. However, it also gives free professional design assistance, alignments, and quality checks at every step which makes the seller feel protective towards their product and avoids black-marketing. Growing public interest towards printed tapes for packaging will further enhance the overall market demand for Printed tape during the forecast period. Covid Impact The worldwide spread of the COVID-19 pandemic has disrupted the trad...
Read more

Pet Care Market - Forecast(2021 - 2026)

  Pet Care Market Overview: According to the European Pet Food Industry Federation (FEDIAF), the daily diet requirement for a dog and a cat are 37 and 40 nutrients respectively. [1]  This daily requirement of nutrients is largely fulfilled by canned pet foods which throws light on the essentiality of pet products in modern-day life. Pet care is a lucrative market growing rampantly in U.S. and U.K. owing to growing instances of pet ownership in these regions. The pet care market also includes items for pet grooming, pet accessories, pet shops, pet essentials, pet care clinics, pet care insurance, and many others. As a result of this increase in pet adoption, consumers are now spending colossal amounts of their income on pet care thereby ballooning the demand for pet products. Furthermore, ease of pet training and grooming facilities has considerably boosted the global pet care market which offered opportunities worth $125 billion as of 2018. During the forecast period 2019-2025...
Read more

Occupant Classification System Market - Forecast(2021 - 2026)

Image
  Occupant Classification System Market Overview The global Occupant Classification System Market size is estimated to surpass  $1.1 billion mark by 2026  growing at a projected CAGR of more than  6.2%  during the forecast period 2021 to 2026. The surging demand for road safety in automobiles pertaining to driver safety and stringent government regulations related to occupant safety will boost the Occupant Classification Systems market. The market is driven by declining prices of the safety systems in passenger vehicles. The market is also driven by increasing number of accidents and stringent government regulations & policies. The automotive sector has seen a growing inclination towards the safety and comfort of the passenger over the years. This focus on safety of the passengers/driver is illustrated by the steps taken by automotive manufacturers, such as introduction of seat belt tensioners, air-bags and  ABS (anti-lock braking)  in the vehicles...
Read more