LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global specialty chemicals market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022.
According to Technavio analysts, the global specialty chemicals market will grow at a CAGR of over 5% during the forecast period. APAC dominates the global specialty chemicals market. Factors such as low-cost labor, high production capacities of players, and availability of technical and skilled workforce, especially from countries such as China, India, Japan, and South Korea, are mainly driving the specialty chemicals market in APAC.
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In this report, Technavio highlights the leading vendors consolidating their market positions through M&A as one of the key emerging trends in the global specialty chemicals market:
Leading vendors consolidating their market positions through M&A
The global specialty chemicals market is experiencing a major transition, where global leading players are consolidating their market positions through mergers and acquisitions. During 2016-27, M&A strategies were adopted by players to dominate their competitors and establish a monopoly in the market. This is because of the increased competition from their competitors and reduced profit margins owing to the competitive pricing of the products.
“In 2017, the global specialty chemicals market had witnessed a significant amount of M&A transactions. This shows that players are adopting strategies to establish and further consolidate their brands and expand their geographical reach to sustain in the highly competitive market,” says a senior analyst at Technavio for research on specialty chemicals.
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Global specialty chemicals market segmentation
This market research report segments the global specialty chemicals market into the following end-users (agrochemicals, construction chemicals, industrial and institutional cleaners, specialty coatings, textile chemicals, adhesive and sealants, polymers and plastic additives, electronic chemicals, surfactants, lubricants and oilfield chemicals, and food additives) and key regions (the Americas, APAC, and EMEA).
The agrochemicals segment held the largest market share in 2017, accounting for nearly 21% of the market. The market share for this end-user is expected to decrease nearly 1% by 2022. The fastest growing end-user is polymers and plastic additives, which will account for nearly 15% of the total market share by 2022.
APAC was the leading region for the global specialty chemicals market in 2017, accounting for a market share of nearly 40%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate of nearly 2%.
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