China’s specialty chemicals market is anticipated to showcase a considerable CAGR of 5.1% during the forecast period (2020-2026). The rise in demand for high performance and function-specific chemicals in the end-user industries is a key factor driving the China special chemical market. Chemical activities and industrial production are closely tied to the major end markets such as construction and automotive. China is the largest chemical industry globally. Significant urbanization has been witnessed in the country and the government is supporting the construction of high-rise buildings. The growing infrastructure development in the country is supporting the demand for specialty chemicals for use in different construction applications. Apart from this, China has a well-established petrochemical industry which in turn is further driving the manufacturing of specialty chemicals. However, the ongoing trade war between China and other countries may restrain the growth of China’s specialty chemical market. However, the strict government regulations, which results in the closure of chemical plants in China in recent years is a major restraint for the market in the country.
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The specialty chemicals market is segmented on the basis of product type. Based on product type, the market is segmented into agrochemicals, cleaning chemicals, construction chemicals, electronic chemicals, food additives, adhesive & sealants, specialty coatings, surfactants, paper & textile chemicals, lubricants & oilfield chemicals, polymers & plastic additives, and others. Based on product type, construction chemicals are anticipated to hold a considerable market share. The growing use of specialty chemicals in the construction industry is a key factor contributing towards the high share of the market segment.
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China Specialty Chemicals Market Segmentation
By Product Type
- Agrochemical
- 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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