China’s specialty chemical market is anticipated to grow at a considerable CAGR of 5.1%. The availability of low-cost raw material, cheap labor, favorable government regulation for the manufacturing of specialty chemicals in the region. High production volume leads to low manufacturing costs and volume sales of chemicals in the country. China is the key supplier of different specialty chemicals used in the formation of finished products such as plastic, fertilizers, medicines, and other intermediate products used in countless industries globally. According to the International Council of Chemical Associations (ICCA), China is the eighth largest chemical importing nation and the twelfth largest chemical exporting nation across the globe.
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As per the CEFIC Chemdata International, in 2018, the chemical sales in China held for around $1.32 trillion however due to the COVID-19 pandemic it is expected to be low this year. China accounts for about 70% of the total rubber chemical products across the globe and consumes about 33-35% of it. The rubber chemical is among the major components to produce auto tires and other auto parts hoses, belts, and gaskets. BASF SE, Sinopec, China National Chemical Corp., and others are the key specialty chemical manufacturers operating in China.
Market Coverage
· Market number available for – 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Product Type
· Competitive Landscape- SABIC, BASF SE, Bayer AG, Eastman Chemical Company, Evonik Industries AG
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China Specialty Chemicals Market Report Segment
By Product Type
· Agrochemicals
· Cleaning Chemicals
· Construction Chemicals
· Electronic Chemicals
· Food Additives
· Adhesive & Sealants
· Specialty Coatings
· Surfactants
· Paper & Textile Chemicals
· Lubricants & Oilfield Chemicals
· Polymers & Plastic Additives
· Others
Company Profiles
· 3M Co.
· Akzo Nobel N.V.
· Albemarle Corp.
· Ashland Inc.
· BASF SE
· Bayer AG
· Chevron Philips Chemical Co.
· China National Chemical Corp.
· China Petroleum & Chemical Corporation (SINOPEC)
· Clariant AG
· Covestro AG
· DIC Corp.
· DuPont Inc.
· Eastman Chemical Co.
· Evonik Industries AG
· INEOS AG
· SABIC
· Solvay SA
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