LONDON--(BUSINESS WIRE)--Specialty chemicals is booming thanks to rapid urbanization. The specialty chemicals market is expected to grow at a CAGR of more than 5% by 2021, and will exceed $800 billion USD value. Specialty chemicals accounted for more that 30% of total chemical sales in the EU in 2015. Germany, France, Italy and the Netherlands accounted for more that 65% of total special chemicals sales in the EU in 2015.
In a recent article titled Specialty Chemicals in the Global Market: BizVibe's Top 5, BizVibe takes a look at the top 5 specialty chemicals manufacturers in the world:
- Dow Chemical: Dow Chemical is the world’s second largest chemical producer by chemical sales. With a presence in 160 countries, the company employs about 54,000 people worldwide and generated revenue of USD 48.15 billion in 2016. As of December 31, 2015, it held 4,651 active US patents and 19,541 active foreign patents.
- AkzoNobel: The company offers its specialty chemicals and associated products under the Bindzil, Biostyle, Dissolvine, Eka, Ecosel, Kromasil, Jozo, and Expancel brands. It is headquartered in Amsterdam, the Netherlands, and accounted for revenue of more than EUR 14 billion in 2016. Akzonobel serves customers from the consumer goods, transportation, building and infrastructure, and industrial sectors.
- BASF: BASF serves customers in the paper, furniture, and automotive industries (amongst others) and has customers in 200 countries worldwide. Products in its specialty chemicals segment include water treatment chemicals, oilfield and mining chemicals, and textile chemicals. BASF is one of the leading suppliers of chemicals used to clarify raw water used for treating waste water stream and sludge volume reduction.
- Hexion Specialty Chemicals: Headquartered in Columbus, Ohio, US, the company employs more than 4,000 people and has approximately 60 production and manufacturing facilities around the world. Prior to 2015, the company was known as Momentive Specialty Chemicals.
- Arkema: Headquartered in Colombes, France, Arkema is a leading global player and manufacturer of chemicals and advanced materials. It mainly serves customers in the aerospace, aeronautics, automotive, electronics, oil, and consumer goods industries. The company has more than 18,000 employees and has approximately 140 production centers located in Europe, North America and Asia.
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