(PRWEB) September 22, 2013
The ‘Global Specialty Chemicals Market by Product Type, Functional Type, Key Applications, Raw Materials, Regulations, Geography, Price trends, and Forecasts (2011 - 2016)’ analyzes the specialty chemicals market by products, functions, and geography and studies the major market drivers, restraints, and opportunities for the specialty chemicals in major geographies of the U.S., Europe, and Asia. The global specialty chemicals market is expected to grow from $476.13 billion in 2010 to $610.14 billion in 2016, at an estimated CAGR of 4.11% from 2011 to 2016.
Browse 160 market data tables/figures and in-depth TOC on global specialty chemicals market.
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Growth in the end-user industries, growth in Asia, increasing scope of applications, focus on innovations to produce efficient and safe chemicals remain the key drivers for the specialty chemicals market. Rising cost of raw materials, regulatory issues, and environmental concerns are the key challenges that the industry is facing.
The “pesticides” segment, which was estimated to be $51 billion in 2010, accounted for the largest share; i.e. 10.7% of the overall specialty chemicals market. This segment is expected to reach $80.0 billion in 2016, at a CAGR of 7.59% for the same period. Other high growth segments, which are expected to grow at a CAGR of over 5%, are advanced ceramics, construction chemicals, oilfield chemicals, and textile chemicals.
Asia has emerged as the largest market for specialty chemicals and accounted for 32% of the overall market in 2010, just edging out North America at 29% and Europe at 28%. The North Americ
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