Specialty and Fine Chemicals

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.

View More

Specialty and Fine Chemicals Published Insights

Coherent Market Insights Sodium Cyanide Market

Published Date : Dec 2022

Sodium cyanide is an inorganic, white, and water soluble solid. It is a highly poisonous compound widely used in chemical and mining industries. It is also used for electroplating and as an important precursor to many useful organic and inorganic chemicals, including ... View more

Coherent Market Insights Methionine Market

Published Date : Dec 2022

Among the amino acids, methionine is a critical molecule in the body. It plays a key role in making new proteins. It also has important roles in other chemical reactions in the body. It is a sulfur-containing molecule that is critical for normal functions. It particip... View more

Coherent Market Insights Polycarboxylate Ether Market

Published Date : Dec 2022

Polycarboxylate ether (PCE) is composed of methoxy-polyethylene glycol copolymer (side chain) grafted with methacrylic acid copolymer (main chain). It is commonly used in the construction industries, especially as superplasticizer in cement and concrete. Superplastici... View more

Coherent Market Insights Pyrethroids Market

Published Date : Dec 2022

Pyrethroids are synthetic analogues of naturally occurring pyrethrins, which are found in chrysanthemums. Pyrethroids are found in many consumer garden and home pesticides for treating problems with caterpillars, ants, mosquitoes, garden worms, spiders, wasps, aphids ... View more

Coherent Market Insights Chlor Alkali Market

Published Date : Dec 2022

The chlor-alkali process is a process that produces chlorine and hydrogen. In addition to providing chlorine and hydrogen, chlor-alkali chemicals are used as a feedstock in numerous chemical processes. This process plays a critical role in the chemical industry and it... View more

Coherent Market Insights Naphthenic Acid Market

Published Date : Dec 2022

Naphthenic acid is an acid composed of a mixture of cyclopentyl and cyclohexyl carboxylic acids. Its molecular mass ranges from 120 to 700 atomic mass units. It has a carbon backbone that contains nine to twenty carbons. Naphthenic acid is released from the oil sands ... View more

Coherent Market Insights Acrylic Acid Market

Published Date : Dec 2022

Often called 2-proenoic acid, acrylic acid is a volatile liquid that is flammable and corrosive. It is used in the manufacture of plastics and food-contact paper, and also in coatings and paint formulations. Acrylic acid is miscible with alcohols and chloroform, and i... View more

Coherent Market Insights Hydrate Inhibitors Market

Published Date : Dec 2022

Hydrate inhibitors are used to prevent or reduce gas hydrate formation. Gas hydrates are formed in offshore production systems under low temperature and high-pressure conditions. These hydrates block pipelines, drill strings, and BOPs by forming plugs, and cause flow ... View more

Coherent Market Insights Wet Chemicals For Electronics And Semiconductor Applications Market

Published Date : Dec 2022

Wet chemicals for electronics and semiconductor applications are used to clean and etch semiconductors, such as ICs and printed circuit boards. These chemicals are used for cost-effective cleaning and etching. Using electronic wet chemicals is one of the key processes... View more

Coherent Market Insights Protein Hydrolysate Ingredients Market

Published Date : Dec 2022

Hydrolyzed proteins are used as a flavor enhancer in food industries. It is a precursor to produce Monosodium glutamate. The hydrolyzed process breaks down protein into smaller-chained amino acids, which promotes speedier absorption and allows for quicker muscle build... View more

Coherent Market Insights Soda Ash Market

Published Date : Oct 2022

Soda ash is a mineral that has a wide range of uses, both industrially and environmentally. It is an important component of glass, and is also used for a variety of other chemical processes. For example, it is commonly used to de-calcify ores to remove sulphur and pho... View more

Coherent Market Insights Citric Acid Ester Market

Published Date : Oct 2022

Esterification, a chemical process that combines citrus extracts and ethyl alcohol, produces citric acid ester, an odorless and colorless liquid. Citric acid ester is mostly utilized as a food additive, as a foam stabilizer, as a pharmaceutical coating plasticizer for... View more

Coherent Market Insights Strontium Bromide Market

Published Date : Oct 2022

Strontium bromide is produced from raw strontium hydroxide. Strontium bromide is used in various applications within the production of analytical reagents, water treatment, and manufacturing of flares, and in pharmaceutical industries. The strontium bromide hexahydrat... View more

Coherent Market Insights Emulsifiers Market

Published Date : Oct 2022

Emulsifiers are widely used as additives and have extensive application ranging from bakery to meat processing. Moreover, rapid industrialization in the food & beverage sector in emerging economies is driving factor for the rise in demand of emulsifiers. ... View more

Coherent Market Insights Ethylene Vinyl Acetate Market

Published Date : Oct 2022

Ethylene-vinyl acetate (EVA) is a copolymer of two organic compounds, ethylene and vinyl acetate. The proportion of vinyl acetate to ethylene varies from 10 to 40%. This type of polymer is used in many applications including plastics, coatings, and adhesives. EVA is c... View more

Coherent Market Insights Formic Acid Market

Published Date : Aug 2022

Formic acid is produced commercially in various products such as descalers, rust removers, and institutional laundry detergents. It is particularly useful in the textile industry, where it is used as a pH regulator and to neutralize alkaline solutions. Increasing fibe... View more

Coherent Market Insights Wood Coatings Market

Published Date : Jul 2022

Wood coating, commonly known as Topcoat, is used to protect hardwood surfaces against water, sunlight, oil, dust, and other household chemicals. Boards, frames, garden furniture and street furniture, modern furniture, replica furniture, kitchens, doors, furnishing acc... View more

Coherent Market Insights Alkyl Ketene Dimer Market

Published Date : Jul 2022

WAX and Emulsion are two different forms of alkyl ketene dimer (AKD). AKD Wax is a flexible chemical that readily combines with molecules that contain hydrogen atoms in their structural make-up to generate a water-repellent adduct. AKD is an excellent size for a varie... View more

Coherent Market Insights Thermoplastic Elastomer Market

Published Date : Jul 2022

Thermoplastic elastomers are flexible materials, which can be stretched without permanently deforming their shape. Thermoplastic elastomers are a physical mix of polymers, which are usually plastic and rubber. Thermoplastic elastomers are manufactured by injection, mo... View more

Coherent Market Insights Oilfield Chemicals Market

Published Date : Jul 2022

Oilfield chemicals are chemical compounds used to improve the efficacy and efficiency of activities at an oilfield site. Various chemicals are used at diverse stages of process, starting from the borehole drilling, to stimulation and application, and fin... View more

© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.