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DUBLIN, Sept. 19, 2022 /PRNewswire/ — The “Asia Specialty Chemicals Market (China, Japan & India): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)” report has been added to ResearchAndMarkets.com’s offering.
Asian specialty chemicals market is expected to reach US$451.5 billion in 2026, rising at a CAGR of 7.75%, for the time period of 2022-2026.
Factors such as rise in construction industry, growth in oil refining activities, growing cosmetic industry and recovering economic growth would drive the market value during the forecasted period.
However, the market growth would be challenged by price instability of crude oil, mounting concerns regarding CO2 emissions and stringent regulations.
A few notable trends may include, China’s increasing share in global chemical market, rising user penetration of ecommerce, accelerating active pharmaceutical ingredients (API) market and continuous research and development.
Asia is expected to drive more than two-thirds of the incremental specialty chemicals global demand till the year 2025, primarily fuelled by disproportionate growth in China and Indiathereby laying an imperative for players to make bold moves to accelerate the adoption of specialty chemicals.
Cosmetic chemicals, adhesives and sealants, flavours and fragrances, printing inks, food additives and water management chemicals are a few emerging segments expected to grow fast and improve their relative positions in the specialty chemicals market in Asia.
Based on country, Asian specialty chemicals market has been segmented into China, Japan and India. China has been the fastest growing specialty chemicals market in Asiabut due to …
Full story available on Benzinga.com
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