Global specialty pesticides market is expected to grow rapidly over the forecast period. Pesticides are the chemicals that are utilized for mitigating, destroying and preventing pests. These pesticides are used for dampening or killing the development of pests. They are also used to enhance the health quality of pests. Insecticides assist in the prevention of crop damage from insects which result in proper growth of the crops. There are various pesticides available depending on the type of pests which include Carbamate pesticides, Pyrethroid pesticides and Organophosphate pesticides. They are used in offices, farms and homes.

Specialty chemicals are categorized based on target applications and functions such as catalysts, biocides and antioxidants. The applications market consists of construction chemicals, water management chemicals, textile chemicals, rubber processing chemicals, specialty paper chemicals, advanced ceramic materials, cosmetic chemicals, oil field chemicals and food additives. The emerging nations such as India, Brazil, China and South Korea are expected to increase the demand for construction chemicals as a result of budding construction sector in these economies.

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Specialty chemicals by function range from biocides, adhesives & sealants, enzymes, specialty coatings, corrosion inhibitors, surfactant, flame retardants, demulsifies, separation membranes, antioxidants, synthetic dyes, catalysts, water soluble polymers, separation membranes, specialty pigments and rheology modifier. The major type of specialty chemicals includes pesticides and construction chemicals. They are anticipated to experience the highest growth rate over the forecast period. Major raw materials required for manufacturing these specialty chemicals are natural gas, ethane, crude oil and propane. Generally, pesticides are utilized for killing bees, ants and mosquitos.

They are as well used to limit the growth of water grasses, trees, algae, roadside weeds and furthermore to stop the loss of crops to insects. World Health Organization (WHO) had recommended the use of Dichloro Diphenyl Trichloroethane (DDT) so as to fight against plague, sleeping sickness, malaria and typhus. WHO records shows that employment of DDT has saved millions of lives.

Over millions of pesticides have been consumed, with herbicides being consumed the most and subsequently insecticides and fungicides. In various countries, governmental agencies regulate the sale and use of pesticides. The key driver for the market is constantly growing population. The growing demand of the population, for instance food, has given rise to the use of pesticides which produce better cultivation. Job opportunities have also been created for the people working in this industry. It has generated vacancies for labors and bio medical engineers. The constant innovation of pesticides has generated opportunities in the research and development cell as well. The use of chemical based (synthetic) pesticides led to increase in environmental concerns. This concern along with the support of government in several countries is expected to fuel the demand for specialty pesticides globally. However, there still exists a significant part of the world such as the immature countries in Middle East & Africa and in South Asia, which is uninformed about the advantages offered by these pesticides. This may pose a threat to the growth of global specialty pesticides market.

Asia Pacific has been the market leader for global specialty pesticides market. It is also expected to witness a high growth rate over the forecast period. The high growth in Asia Pacific is sustained by the increasing number of end user industries which include automotive, electronics, construction and plastic. The growing requirement for specialty chemicals coupled with huge shifts in these significant market is expected to boost demand for the market. North America is expected to witness a high growth rate over the next seven years on account of increasing population, need for enhancement in crop yields and declining arable lands. The U.S. has been facing renewed manufacturing and robust construction actions, especially in housing, which has also led to the increase in overall demand.

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Global specialty pesticides market has appeared as one of the most vital segment all over the world. It is controlled by huge players, which employ modern and sophisticated management approach. These large players include BASF, Akzo Nobel, DSM, Dow Chemicals and DuPont. They have employed a commodity based market approach by aiming on multi chemical abilities and have been aggressive in their acquisitions. Other industry participants include Evonik Industries AG, Huntsman International LLC, Albemarle Corporation, Henkel Ag & Co. KGAA, Ashland Inc. and Clariant AG.

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