The major players in specialty chemicals market are Henkel Ag & Co. KGAA (Germany), BASF SE (Germany), AkzoNobel N.V. (The Netherlands), Evonik Industries AG (Germany) and Clariant AG (Switzerland), Huntsman International LLC (U.S.), The Dow Chemical Company (U.S.), Albemarle Corporation (U.S.), and Ashland Inc. (U.S.), among others.

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The specialty chemicals market has emerged as one of the most crucial chemicals segment across the globe. The specialty chemicals market is dominated by large players who have diversified portfolios and employ sophisticated and modern management approach such as Dow Chemicals, BASF, DuPont, Akzo Nobel, and DSM. These market participants have been aggressive in their acquisitions and have been focusing on multi-chemical abilities, thus employing a commodity-based approach to the market.

This report classifies specialty chemicals market into two segments, namely, target applications and functions (such as antioxidants, catalysts, and biocides). The applications of specialty chemicals market includes advanced ceramic materials, construction chemicals, cosmetic chemicals, water management chemicals, oil field chemicals, textile chemicals, food additives, and others such as rubber processing chemicals, and specialty paper chemicals. Specialty chemicals by functions include adhesives and sealants, catalysts, corrosion inhibitors, antioxidants, flame retardants, separation membranes, synthetic dyes, specialty pigments, demulsifiers, rheology modifiers, and water soluble polymers. The report also analyzes prices of key raw materials used to manufacture specialty chemicals. Some of basic materials are crude oil, natural gas, propane, ethane, among others.

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Source: MarketsandMarkets Analysis

Asia-Pacific is the largest specialty chemicals market. North America specialty chemicals market ranks second, in terms of value which is closely followed by Europe. The development of eco-friendly specialty chemicals at competitive prices is expected to create new opportunities in the specialty chemicals market. The specialty chemicals have huge potential in developing economies such as China, India, and Brazil; so, expanding production operations into these regions, can be an opportunity for the manufacturers.

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