Global Specialty Chemicals Market is Projected to Gegister A CAGR of 5.42%

Date: 2015-09-09

“The market for specialty chemicals is estimated to grow due to the increasing demand from end user industries such as construction, automotive, plastic, and electronics. Huge demand from Asia-Pacific region and increasing R&D activities to develop new products is also major driving factors of the specialty chemicals market. The factors restraining the market growth are volatile raw material price and environmental regulations regarding the use of certain specialty chemicals. 

The specialty chemicals market is projected to register a CAGR of 5.42% between 2015 and 2020. Asia-Pacific is also expected to witness the highest growth between 2015 and 2020. This region is the largest and fastest-growing market for specialty chemicals with a CAGR of 6.35% expected between 2015 and 2020. A significant demand from developing countries such as China and India is driving the global specialty chemicals market. Moreover, advancements in electronics industry in major electronics producing countries such as China, Japan, South Korea, and Taiwan has resulted in a solid turnaround in the consumption of specialty chemicals in the region. Most of the growth in China and India is being fuelled by rising investments in infrastructure development and construction projects in these countries. 

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