Global Specialty chemicals market is estimated to cross $953.9 billion by 2027, and to grow at a CAGR of 5.0% from 2020 to 2027. The report by Allied Market Research on the coconut alcohol market provides a wide-ranging study of the global market size & forecast, region-wise outlook, segmental study, competitive landscape, market opportunities, major drivers, and key industry trends.
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Specialty chemicals market report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the metallic powder coatings market share. Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2019 and will maintain its dominance throughout the forecast period. In addition, the same region is expected to grow at the highest CAGR of 5.9% from 2020 to 2027. However, North America is expected to grow at the CAGR of 4.5% during the forecast period.
Based on region, Asia-Pacific contributed the highest share, accounting for more than one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, the same region is expected to grow at the highest CAGR of 5.9% from 2020 to 2027. However, North America is expected to grow at the CAGR of 4.5% during the forecast period.
Based on type, the pharmaceutical ingredients segment contributed to the largest share in 2019, accounting for nearly one-fifth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the oil field chemicals segment is expected to register the highest CAGR of 5.7% from 2020 to 2027.
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Covid-19 scenario:
- The production of agrochemicals, oil field chemicals, and pharmaceutical ingredients has been continued during the months of coronavirus pandemic.
- The specialty chemicals industry has been facing the problems such as immobilized supply chain and shortage of logistics & workers during the global lockdown.
- On the other hand, the demand for specialty chemicals from healthcare sector has been increased across the globe.
Leading market players analyzed in the research include Albemarle Corporation, Ashland LLC., BASF SE, Bayer AG, Clariant AG, Dow, Inc., Evonik Industries AG, Huntsman International LLC, Lanxess AG, Nouryon, Solvay SA, and Sumitomo Chemical Company.
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