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Specialty and Fine Chemicals

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Specialty chemicals, performance chemicals, and fine chemicals are terms that are often used interchangeably. Specialty chemicals improve the performance of an end product or manufacturing process. End products include adhesives, cleaning materials, agricultural, food additives, lubricants, surfactants, textile auxiliaries, elastomers, and flavors. Specialty and fine chemicals find wide application across various end-use industries such as aerospace, automobiles, cosmetics, construction, textile, polymers, and food. Increasing industrialization and urbanization have led to revival of the economy and flourishing trade. Population explosion, especially in Asia Pacific, is fueling demand for consumer goods, food, and infrastructure. A variety of specialty chemicals are used for production of agrochemicals, construction chemicals, cosmetic products, food additives, textile, polymers, and plastics, among others. Moreover, emerging economies in Asia Pacific are characterized by rapid growth of end-use industries which is fueling growth of the specialty and fine chemicals market. The growth of specialty chemicals is largely driven by growth of agricultural, construction and automobiles industries. Moreover, development of environment friendly products such as TERGITOL L Series surfactants by The Dow Chemicals Company are favoring demand for specialty and fine chemicals.

Surge in Pharmaceuticals, Agrochemicals and Construction Activities Augmenting Market Growth

The pharmaceuticals industry is expected to be one of the major end users of specialty chemicals. The rapidly growing population, especially the geriatric population which is characterized by high susceptibility to various diseases, is fuelling growth of the global pharmaceuticals industry. This creates a highly conducive environment for the growth of the specialty and fine chemicals market.

Furthermore, positive growth of end-user industries such as agrochemicals, construction, and automobiles is facilitating the market growth. Growing preference among consumers across the globe for eco-friendly products is influencing manufacturers to develop bio-based chemicals. These are especially preferred in agrochemicals and fertilizers for increasing crop yield. The agricultural sector is growing continuously in order to keep up with the population growth. Specialty and fine chemicals find a range of applications in fertilizers and pest control products, which is augmenting growth of the market.

Construction chemicals are used in activities such as residential project, commercial complex and industrial applications. Construction chemicals minimize the quantity of cement and water used in construction activities. Asia Pacific is one of the lucrative markets for specialty chemicals due to presence of rapidly expanding economies and urbanization, which is fueling demand for advanced and modern infrastructure in the region. Moreover, several players operating in the construction industry are utilizing various construction chemicals such as concrete admixtures, adhesive & sealants, and flame retardants in order to expand their consumer base and presence in the global markets. Polymer is the basic raw material used by in the construction industry.

The automobile industry is one of the lucrative sectors for specialty chemicals. Polymers, paints, plastics, adhesives, fibers, and sealants are extensively used in the automobile industry. China, Japan, India, and the U.S. are major automotive hubs, which is likely to drive demand for specialty and fine chemicals from these markets. Asia Pacific is positioned to be a major revenue contributor in the global market due to presence of emerging economies such as India and China, and supportive government initiatives in the region. For instance, the Government of India, highlights the Auto Mission Plan (AMP) in its Make in India initiative to increase its passenger vehicle market by 2026 to 9.4 million units. India also witnessed US$ 15.79 billion Foreign Direct Investment (FDI) from 2000 to 2016 as per the Department of Industrial Policy and Promotion (DIPP). This creates a highly conducive environment for growth of the global specialty and fine chemicals market.

Challenges – Strict Environmental Regulation

The synthetics based specialty and fine chemicals have a negative impact on the environment, which affects the ecosystem and life. Various environmental protection agencies have enforced numerous environmental regulations on use of chemicals in various industries. This may hinder growth of the specialty chemicals market during the forecast period. In October 2003, the European Union banned use of atrazine due to its ubiquitous and unpreventable water contamination. Stringent environmental regulations are forcing end-use industries to opt for bio-based chemicals, which is expected to restrict the growth of the specialty and fine chemical market due to major shift in technology involved. Moreover, the Chinese Ministry of Environmental Protection imposes penalties for high carbon emissions, which has led many chemicals manufacturing units in the country to shut down.

Specialty and Fine Chemicals – Regulatory Scenario:

  • 2016, the Russian government and National Parliament, State Duma, planned to enforce a new federal law primarily focused on regulating the in-house specialty chemicals. The new law will regulate around 800 specialty chemicals in Russia.
  • On June 22, 2016, Frank R. Lautenberg Chemical safety for the 21st Century Act strengthened and modernized the Toxic Substances Control Act (TSCA). This act requires the EPA to evaluate chemicals on its benefits, health risk, and exposure limit, among others.
  • January, 2015, The Chinese Ministry of Environmental Protection enforces strict penalties on manufacturing of chemicals which has led many specialty chemicals manufacturing facilities in the country to cease operations.

Key players in the market include Akzo Nobel N.V., BASF SE, Ashland Inc., Clariant AG, Evonik Industries, The Dow Chemical Company, Huntsman Corporation, DuPont, Arkema S.A., Bayer AG, Chevron Philips Chemical Company, Syngenta AG, Albemarle Corporation, Chaitra Corporation, Eastman Chemical Company, Solvay, and INEOS Group AG among others. Key players in the market are also focusing on strategic mergers and acquisitions to enhance their profitability. For instance, in March, 2017, The Dow Chemical Company and DuPont merged as part of a US$ 62 billion deal. The companies would subsequently break into three separate publicly traded companies that would focus on agriculture, material science, and specialty chemicals.

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Specialty and Fine Chemicals Published Insights

Coherent Market Insights

Lignin Market, By Product (Lignosulfonates, Kraft Lignin, and Others), By Application (Concrete Additive, Animal Feed, Dye Stuff, and Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2020

Published Date :Jul 2021

Lignin, also referred as monolignols, is a class of complex polymer and are widely used across industries such as construction, oil drilling, pulp & paper, and agriculture. They are a key ingredient used in the concrete admixtures in order to enhance the shel... Read more

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Humic Acid Market, by Application (Agriculture, Animal Feed, Ecological Remediation, Dietary Supplements, Pharmaceuticals, and Others) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2021

Humic acid is an ingredient obtained from the biodegradation of organic substances such as soil/ humus, peat, and coal. It is a complex mixture of various acids from phenolate and carboxyl groups that can be widely used to provide required nourishment to crops/ plants... Read more

Coherent Market Insights

Glutathione Market, by Product Type (Reduced Glutathione and Oxidized Glutathione), by Application (Food & Beverages, Pharmaceuticals, Personal Care & Cosmetics, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2021

Glutathione is a tripeptide compound, which is made from amino acids such as glycine, cysteine, and glutamic acid. Glutathione helps in preventing damage to important cellular components of human body, caused by reactive oxygen species such as free radicals, peroxides... Read more

Coherent Market Insights

Peracetic Acid Market, By End-user (Food and Beverages, Pulp and Paper Bleaching, Water Treatment, Medical, Agriculture, Others), and By Region (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Nov 2020

Peracetic acid is a liquid chemical product that is highly acidic in nature. It is produced by using hydrogen peroxide and acetic acid. It is considered as one of the most effective agents after ozone. It is widely used across disinfectant applications across various ... Read more

Coherent Market Insights

Carboxymethyl Cellulose Market, By End-User (Food & Beverage, Oil Drilling Fluids, Paper Processing, Personal Care, Paints and Adhesives, Packaging, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Carboxymethyl cellulose is cellulose gum which is extracted from wood pulp and pure cotton. Cellulose gum is widely used across various industries which include oil &gas, agriculture, cosmetics & personal care, paint, paper processing, pharmaceutical, foo... Read more

Coherent Market Insights

Hydrazine Hydrate Market, By End-User (Water Treatment, Pharmaceutical, Agrochemicals, Polymerization & Blowing Agents, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Hydrazine hydrate is a highly reactive chemical compound that appears colorless with a pungent smell. It is widely used across polymerization and the pharmaceutical industry. It is used as a foaming agent across the polymer industry in the production of polymers.... Read more

Coherent Market Insights

Chitosan Market, By Application (Water Treatment, Biomedicine & Pharmaceuticals, Industrial, Food & Beverage, Cosmetics, Agrochemicals, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Chitosan is a derivative of chitin that is extracted from shells of aquatic species such as lobsters, shrimps, and crabs. Chitosan is widely used in dietary supplements as it inhibits the lipid absorption in the gastrointestinal tract. It is also used in various healt... Read more

Coherent Market Insights

Mining Chemicals Market, By Product Type (Frothers, Flocculants, Collectors, Solvent Extraxtant, Grinding Aids, Others), By Application (Minerals Processing, Explosives & Drilling, Water and Waste Treatments, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Mining chemicals are widely used across mining industries for various process such as wastewater treatment, minerals processes, and drilling water. They are used to extract metal such as copper, platinum, and gold. Mining chemicals are broadly classified into&nbs... Read more

Coherent Market Insights

Construction Paints and Coatings Market, By Product Type (High Solids/Radiation Cured, Powder Coating, Water Borne, Solvent Borne, Others), By Application (Architectural Paints, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Construction paints and coatings are coatings used in the construction industry for protecting the infrastructure from corrosion and harsh weather conditions. This paints increase the resistance of the various infrastructure surface and prevent it from degra... Read more

Coherent Market Insights

Phenoxyethanol Preservatives Market, By Product Type (Phenoxyethanol P5, Phenoxyethanol P25), By Application (Home and personal care (Cosmetics, Perfumes, Detergents, Ointments), Pharmaceuticals, Dyes and inks, Others), and By Region (North America, Europe, Asia-pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Aug 2020

Phenoxyethanol is a preservative used widely across the personal care industry in order to combat the Gram-negative bacteria but is weak against molds and yeast. It has massive use in cosmetic products and is classified into phenoxyethanol P25 and phenoxyethanol ... Read more

Coherent Market Insights

Far East & Baltic Countries Ammonium Sulfate Market, By Production Process (Caprolactam By-product, Coke Oven Gas, Gypsum, Neutralization and Others), and By Countries (China, Japan, Taiwan, Indonesia, South Korea, Russia, Ukraine & Baltic Countries) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2020

Ammoniums sulfate is a solid inorganic compound that is white in color and composed of 24% sulfate ions and 21% nitrogen. It is mainly used as a fertilizer for alkaline soils as it helps to reduce the pH value. Ammoniums sulfate is produced by reacting sulfuric a... Read more

Coherent Market Insights

Sodium Hypochlorite Market, by Application (Cleaning & Disinfection, Bleaching, and Chemical Manufacturing), by End-Use (Household and Industrial), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2020

Sodium hypochlorite is a greenish yellow liquid with a faint chlorine-like odor. This solution is also known as household bleach. At stronger concentrations, it is used as bleaching agents for production of paper, pulp, and textiles. The global sodium hypochlorite mar... Read more

Coherent Market Insights

Esters Market, By Product Type (Monoesters, Diesters, Complex Esters, Methyl Esters), By Application (Automotive Lubricant, Industrial Lubricant, Aviation Lubricants, Marine Lubricants, Food Grade Lubricants), and By Region (North America, Europe, APAC, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2020

Esters are produced from organic or inorganic acids by dehydration with the alcohol process. It contains a carbonyl group adjacent to the ether linkage. Nitrate esters, acid esters of glycerol, and polyesters are some of the major types of esters. Oils, fats, and... Read more

Coherent Market Insights

NAFTA and Europe Grignard Reagents Market, By Application (Catalyst, Stabilizers, Others), By End-user (Pharmaceuticals, Agrochemicals, Flavors and Fragrances, Packaging, Research), and By Region (NAFTA (US, Canada, and Mexico), Europe (Germany, France, U.K, Spain, Italy, Russia, Rest of Europe)) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published Date :Jul 2020

Grignard reagents are highly reactive compound with chemical formula R-Mg-X. It belongs to the organometallic compounds and finds extensive applications in the synthesis of various chemicals. Moreover, in the pharmaceutical industry, it is used to produce various drug... Read more