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Insights from Future Market Research
The Specialty Chemicals Market was worth more than USD 650 Bn in 2023 and can most like cross USD 900 Bn by 2030-end, says Market Research Future (MRFR). MRFR also expects the growth rate to be significant during the specialty chemicals market forecast period (2023 – 2030). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Regional Analysis:
Geographically, the global specialty market is spread across North America, Europe, Asia Pacific and Rest of The World.
Out of these Asia Pacific holds the largest market share. It is due to the high availability of raw materials and lower human labor costs. Several nations like India, Malaysia, and Thailand etc are poised for growth in the coming years.
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Market Segmentation:
The worldwide specialty chemicals market is divided into functions, types & end users.
Based on functions the market is segmented into adhesives & sealants, elastomers, flame retardant and water treatment. Out of these adhesive & sealants held the biggest market share of up to 25.9% in 2015. This sub segment was followed by elastomers that held around 24.7% shares.
Because of types the market is segmented into electronic chemicals, industrial & institutional cleaners, specialty polymers, surfactants and construction chemicals.
Soap, cleaning, cosmetics, food and beverages, electrical & construction form the end-user’s segment.
Key Players:
Some of the big brands in this industry include Akso Nobel NV, BHS Specialty Chemical and Evonik Industries AG. These brands have a smart approach towards this industry. They focus on technological inventions and at the same time expand their companies by getting hold of local players of a specific region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis about diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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