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New York, December 16, 2021 /PRNewswire/ – Specialty chemicals market will grow $155.04 billion Between 2020 and 2025, it will accelerate at a compound annual growth rate of 3.41% during the forecast period. The market is divided by end users (agrochemicals, lubricants and oilfield chemicals, adhesives and sealants, industrial and institutional cleaners, etc.) and geographic regions (Asia Pacific, North America, Europe, South America, And MEA). The report details the supplier’s performance in terms of revenue generation, market position, product launches, and customer base.
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Key Points of Specialty Chemicals Market Research
- Specialty Chemicals Market Increase in size $155.05 billion The compound annual growth rate from 2020 to 2025 is 3.41%
- Expected to increase by 2.35% year-on-year in 2021
- During the forecast period, the Asia-Pacific region will have 62% market growth
- The agrochemical market will grow the most in 2020
- Major suppliers include BASF SE, Dow Inc., Huntsman Corp., etc.
Specialty chemicals market: growth drivers and constraints
The specialty chemicals market is driven by the growing demand for specialty chemicals in the agrochemical industry. The limited arable land has led people to pay more attention to increasing crop yields to support the rapidly growing world population. In addition, due to the lack of proper food storage infrastructure and low food distribution efficiency, it is necessary to increase crop yields. Therefore, companies are increasingly developing a variety of agrochemicals that increase yields. During the forecast period, promoting the use of agrochemicals to increase agricultural yields and reduce crop losses will further have a positive impact on the market.
However, strict regulations and policies will be a major challenge for the specialty chemicals market during the forecast period…
The full story can be found on Benzinga.com
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