+1-888-308-5802     
News Contact Us

Rising electronics and automobiles sales to bolster specialty chemicals market demand

Author : Ravi Chawat | Published Date : 2020-09-04 

Global specialty chemicals market is expected to gain huge proceeds from increasing product application in the automotive industry. Specialty chemicals are being extensively used to produce paints & coatings and adhesives utilized in the automotive industry. In 2015, global automobile production, including personal & commercial, reached almost 90 million units. Consumers are highly inclined towards using lubricants to lower frictional forces in automobiles, which will further propel specialty chemicals market demand.

Apart from the automotive industry, specialty chemicals are broadly used in electronic apparatuses, such as semiconductors and integrated circuits. Rapid adoption of smartphones is set to boost the usage of electronic chemicals. Specialty chemicals market size from electronic chemicals is projected to grow at more than 4.5% CAGR over 2016-2024.
Specialty chemicals are toxic and can have detrimental impacts on the environment and biodiversity, which has evoked concerns from regulatory bodies regarding the excessive usage of the product. Governments have formulated strict environmental legislation and introduced directives about appropriate product usage. Rising consumer awareness about the toxic effects of specialty chemicals may impede the growth of specialty chemicals market.

Extensive demand for specialty chemicals in construction, automobiles, and electronics will intensify the competition among eminent specialty chemicals industry participants. A few of the major business players are BASF, Dow Chemical, Bayer, DuPont, and INEOS Group. Other notable specialty chemicals companies include Clariant, Ashland, Syngenta, Arkema, Huntsman, Evonik Industries, Albemarle, Akzo Nobel, Chemtura, Solvay, and Eastman Chemical amongst others.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/792

Amid the rising prevalence of industrialization on a global scale, numerous industrial sectors are on the lookout for efficient components to help boost not only their production processes but overall product performance. One such component is specialty chemicals.

Specialty chemicals refer to products that deliver myriad performance effects to an array of industrial sectors. These sectors include ink additives, oil & gas, construction, food, cosmetics, and textile, among others.

Specialty chemicals or performance chemicals are generally used as ingredients that help to enhance the manufacturing process, as well as in finished products. They are single-chemical entities for formulations and are utilized based on their performance and function. The composition of specialty chemicals varies depending on their usage and asserts significant influence on the user’s product performance.

Based on product, the specialty chemicals market is classified into various segments, including Polymers & Plastic Additives, Agrochemicals, Cleaning Chemicals, Paper & Textile Chemicals, Adhesives & Sealants, Lubricants & Oilfield Chemicals, Construction Chemicals, Specialty Coatings, Electronic Chemicals, Food Additives, and Surfactants, among others.

There has been a considerable rise in demand for specialty chemicals in recent years, owing predominantly to the robust agricultural landscape, particularly in Asian nations such as China and India.

Browse More News:

https://www.prnewswire.com/news-releases/apac-marine-coatings-market-valuation-to-hit-us12-billion-by-2024--gmi-300905663.html

https://www.prnewswire.com/news-releases/pigment-market-value-to-hit-21-billion-by-2026-global-market-insights-inc-300955523.html

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

Related News

Nitrogen Trifluoride (NF3) Market to hit USD 2 Bn by 2025

Published Date: 2020-09-23         Author: Ravi Chawat

The nitrogen trifluoride (NF3) market revenue is set to reach a valuation of $2 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Rising demand from high-tech thin film industries of semiconductor, and solar photovoltaic cells manufacturing for deposition, etching and chamber... Read More

Lithopone Market growth fueled by expanding rubber applications over 2020-2025

Published Date: 2020-09-23         Author: Ravi Chawat

Continuous demand for light weight plastics in fuel-efficient vehicles is significantly driving the lithopone market value worldwide. Lithopone is extensively used as a filler in leather products, linoleum flooring, paper and pulp applications, and various sealing consignments owing to its opacity a... Read More

Erdosteine market demand may register significant gains at over 7% during the forecast period

Published Date: 2020-09-23         Author: Ravi Chawat

The erdosteine market is poised to rise from USD 90 million in 2018 to around USD 150 million by 2025, according to a 2019 Global Market Insights, Inc. report. Increasing demand for mucus regulating medicines owing to rise in air contaminants such as toxic gases, pollen, dust, organic material, emis... Read More

© 2020 Fractovia. All Rights Reserved