The report “Specialty Chemicals Market by Type (Pesticides, Construction Chemicals, Specialty Oilfield Chemicals, Food Additives, Specialty Polymer and Others), by Function (Antioxidants, Biocides, Surfactants, and Others) - Global Trends & Forecasts to 2020” , defines and segments the specialty chemicals market with an analysis and forecast for types, and functions, in terms of value.

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The global specialty chemicals market is also a highly competitive market. Owing to the wide scope of applications and the overlapping of many chemicals across various segments, many market players such as DuPont, BASF, and Akzo Nobel, have a strong presence across a host of application segments. Some of the key participants in the global specialty chemicals market, based on their market presence, are BASF (Germany), Dow Chemical (U.S.), Akzo Nobel N.V (Netherlands), Bayer AG (Germany), Clariant AG (Switzerland), Evonik Industries (Germany), and Ashland Inc. (U.S.).

“Specialty coatings and surfactants to be the largest functions for the specialty chemicals market”

Specialty chemicals by functions range from antioxidants, biocides, catalysts, enzymes, separation membranes, specialty coatings, specialty pigments, surfactant, rheology modifier, demulsifier and others. Specialty coatings and surfactants collectively accounted for 27.19% share in terms of value in 2014. Increase in demand for specialty chemicals such as construction chemicals, pesticides, oilfield chemicals, mining chemicals and others is mainly due to the huge demand from Asia-Pacific region, and growth in end-user industries such as construction, automotive, and electronics. Growth is expected to be partly driven by turnaround in these key markets and the increasing need for specialty chemicals for these functions.

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“Pesticides to continue to dominate the market”

Pesticides are the major type of specialty chemicals. They capture a major market share of 15.81% of the total specialty chemicals market in 2014. The factors contributing towards the growth of pesticides market are decreasing arable land, growing population, and the need for improvement in crop yields. North America accounted for around 35.32% of the global market in 2014.

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