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Specialty Chemicals Market Size, Share and 2020 Trends Analysis | Industry Forecast to 2028


According to Fortune Business Insights™, The global specialty chemicals market size is projected to reach USD 882.6 billion by 2028, exhibiting a CAGR of 4.7% during the forecast period. The market’s value stood at USD 627.7 billion in 2020 and is expected to hit USD 641.2 billion in 2021.
However, the market growth slumped by 2.8% in 2020 owing to the devastation caused by the COVID-19 pandemic outbreak. With transportation and travel activities heavily restricted to contain the coronavirus, chemical companies and suppliers faced huge inventory shortages, triggering a precipitous drop in sales and revenues. On the flip side, the integral role played by chemical companies in the battle against COVID-19 will prove crucial in the post-pandemic period for them.

List of Key Players Profiled in the Specialty Chemicals Market Report
• The Lubrizol Corporation(US)
• Croda International Plc (UK)
• Kemira Oyj (Finland)
• Akzo Nobel N.V. (Netherlands)
• Evonik Industries AG (Germany)
• Albemarle Corporation (US)
• Huntsman International LLC (US)
• LANXESS AG (Germany)
• BASF SE (Germany)
• Clariant AG (Switzerland)
• Solvay AG (Belgium)


Robust Chemical Manufacturing Infrastructure in China to Invigorate the Asia Pacific Market
• The manufacturing power of China is foreseen to aid the dominance of Asia Pacific in the specialty chemicals market share during the forecast period. The exceptional manufacturing capabilities of China are bolstered by the abundant availability of raw materials in the country and the existence of cheap labor. The Asia Pacific market size was USD 291.2 billion in 2020.
• Being one of the largest consumers of this type of chemicals such as biocides, synthetic lubricants, and corrosion inhibitors, North America is well poised to establish a commanding hold on this market in the forthcoming years.
• In the Middle East, the enormous demand for oilfield chemicals will be the prime driving force for the regional market.

Industry Development
• January 2021: Huntsman Corporation successfully completed the takeover of Gabriel Performance Products, an Ohio-based manufacturer of epoxy curing agents and specialty additives, for USD 250 million from Audax Private Equity.
Information Source:
https://www.fortunebusinessinsights.com/specialty-chemicals-market-105517

Specialty Chemicals Market Size, Share and 2020 Trends Analysis | Industry Forecast to 2028 According to Fortune Business Insights™, The global specialty chemicals market size is projected to reach USD 882.6 billion by 2028, exhibiting a CAGR of 4.7% during the forecast period. The market’s value stood at USD 627.7 billion in 2020 and is expected to hit USD 641.2 billion in 2021. However, the market growth slumped by 2.8% in 2020 owing to the devastation caused by the COVID-19 pandemic outbreak. With transportation and travel activities heavily restricted to contain the coronavirus, chemical companies and suppliers faced huge inventory shortages, triggering a precipitous drop in sales and revenues. On the flip side, the integral role played by chemical companies in the battle against COVID-19 will prove crucial in the post-pandemic period for them. List of Key Players Profiled in the Specialty Chemicals Market Report • The Lubrizol Corporation(US) • Croda International Plc (UK) • Kemira Oyj (Finland) • Akzo Nobel N.V. (Netherlands) • Evonik Industries AG (Germany) • Albemarle Corporation (US) • Huntsman International LLC (US) • LANXESS AG (Germany) • BASF SE (Germany) • Clariant AG (Switzerland) • Solvay AG (Belgium) Robust Chemical Manufacturing Infrastructure in China to Invigorate the Asia Pacific Market • The manufacturing power of China is foreseen to aid the dominance of Asia Pacific in the specialty chemicals market share during the forecast period. The exceptional manufacturing capabilities of China are bolstered by the abundant availability of raw materials in the country and the existence of cheap labor. The Asia Pacific market size was USD 291.2 billion in 2020. • Being one of the largest consumers of this type of chemicals such as biocides, synthetic lubricants, and corrosion inhibitors, North America is well poised to establish a commanding hold on this market in the forthcoming years. • In the Middle East, the enormous demand for oilfield chemicals will be the prime driving force for the regional market. Industry Development • January 2021: Huntsman Corporation successfully completed the takeover of Gabriel Performance Products, an Ohio-based manufacturer of epoxy curing agents and specialty additives, for USD 250 million from Audax Private Equity. Information Source: https://www.fortunebusinessinsights.com/specialty-chemicals-market-105517
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Specialty Chemicals Market Size, Trends | Analysis Report, 2028
The global specialty chemicals market is projected to grow from $641.2 billion in 2021 to $882.6 billion in 2028 at a CAGR of 4.7% during forecast period
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