Ocean View, Delaware, Oct. 18, 2016 (GLOBE NEWSWIRE) --
Specialty Chemicals Market size is set to touch USD 1,273 billion by 2024; according to a new research report by Global Market Insights, Inc.
Global specialty chemicals market share is majorly driven by increasing population along with rapid industrialization resulting in decreased arable land. Global population is likely to reach 9 billion by 2040, this will consequently propel food demand up to the same period. Significant increase in yield is possible through agrochemicals use such as fungicides. Governments across the globe are promoting agrochemicals use to secure food supply to meet the increasing food demand owing to drive industry growth.
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Robust growth in end user industries including construction and automotive will boost the global specialty chemicals market size by 2024. These compounds are used in adhesives and paints & coatings, which are widely used in automotive as well as construction industry. In 2015, global vehicles production, including commercial & personal, was approximately 90 million units. Furthermore, increasing consumer demand for lubricants to reduce frictional forces in the vehicles will enhance growth.
Specialty chemicals are mainly synthetic and have harmful environmental effects, which effects the biodiversity. Therefore, stringent environmental legislations are formulated and directed for the product application, due to its toxicity. This may restraint the industry size in the near future. In addition, increasing consumer awareness towards digital media, such as Twitter, Facebook, and YouTube may hinder paper & textile specialty chemicals market size. However, growing construction industry, particularly in China, India, Japan and Brazil, will propel industry share in the coming years.
Browse key industry insights spread across 110 pages with 74 market data tables & 14 figures & charts from the report, “Specialty Chemicals Market Size By Product (Agrochemicals, Polymers & Plastic Additives, Construction Chemicals, Electronic Chemicals, Cleaning Chemicals, Surfactants, Lubricants & Oilfield Chemicals, Specialty Coatings, Paper & Textile Chemicals, Adhesives & Sealants, Food Additives), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Poland, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Key insights from the report include:
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Specialty chemicals market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD billion from 2013 to 2024, for the following segments:
The above information is provided on a regional and country basis for the following:
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.