DALLAS, March 8, 2011 /PRNewswire/ -- The 'Global Specialty Chemicals Market by Product Type, Functional Type, Key Applications, Raw Materials, Regulations, Geography, Price trends, & Forecasts(2011-2016)' analyzes the specialty chemicals market by products, functions, and geography and studies the major market drivers, restraints, and opportunities for the specialty chemicals in major geographies of the U.S., Europe, and Asia. The global specialty chemicals market is expected to grow from $476.13 billion in 2010 to $610.14 billion in 2016, at an estimated CAGR of 4.11% from 2011 to 2016.
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MarketsandMarkets: Global Specialty Chemicals Market Worth $ 610.14 Billion by 2016
Growth in the end-user industries, growth in Asia, increasing scope of applications, focus on innovations to produce efficient and safe chemicals remain the key drivers for the specialty chemicals market. Rising cost of raw materials, regulatory issues, and environmental concerns are the key challenges that the industry is facing.
The "pesticides" segment, which was estimated to be $51 billion in 2010, accounted for the largest share; i.e. 10.7% of the overall specialty chemicals market. This segment is expected to reach $80.0 billion in 2016, at a CAGR of 7.59% for the same period. Other high growth segments, which are expected to grow at a CAGR of over 5%, are advanced ceramics, construction chemicals, oilfield chemicals, and textile chemicals.
Asia has emerged as the largest market for specialty chemicals and accounted for 32% of the overall market in 2010, just edging out North America at 29% and Europe at 28%. The North American specialty chemicals market was estimated to be worth $138.0 billion in 2010 and is expected to be worth $174.6 billion in 2016, growing at a CAGR of 3.84% from 2011 to 2016. Specialty polymers were the largest specialty chemicals segment in Europe and were estimated to be worth $10.3 billion in 2010, growing at a CAGR of 3.98% from 2011 to 2016. Electronic chemicals are one of the largest segments of specialty chemicals in the Asian market and were estimated to be worth $12.8 billion in 2010.
The report "Global Specialty Chemicals Market By Product Type, Functional Type, Key Applications , Raw Materials, Regulations, Geography, Price Trends, & Forecasts (2011-2016)" segments the market on three aspects: by products, by functionality and by geography. The product segmentation covers a host of specialty chemicals by fifteen applications such as construction, electronics, pesticides, water-treatment, etc. The second segmentation discusses the specialty chemicals market by functionalities such as antioxidants, biocides, catalysts, and so on. The report also discusses the major technological and market trends along with market share of major industry participants in the specialty chemicals industry and includes key industry events such as new product launches, mergers and acquisitions, and agreements. The objective of report is to highlight key market trends which can be strategically useful and actionable for the stakeholders; i.e. specialty chemicals manufacturers, bulk and commodity chemicals manufactures, raw material suppliers, distributors, importers and exporters, and research and consulting firms in the specialty chemicals industry. The entire report is supported with a number of facts and figures about market size, market revenues, and company market share analysis. The total number of tables and figures are about 160 in the report. The report also forecasts the specialty chemicals market till 2016.
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