How demand for specialty chemicals is changing


image001 4
Spread the love

Chemicals are made of defined compositions. Both natural and manufactured chemicals have made the Earth the way it is today, and they continue to change its face. Chemical products are mainly categorized based on which markets they serve. There are three main categories concerning the chemicals industry:

  1. Fine chemicals, refers to some chemicals produced and handled in small quantities. Chemicals like active pharmaceutical ingredients (API), steroids, biocides, alkaloids, peptides, and proteins are some examples of fine chemicals.
  2. Commodity chemicals or bulk chemicals are produced in very big quantities and are supposed to meet the needs of global markets. A few examples are Phenols, aniline, xylenes, ethyl benzene, cyclohexane, and chlorobenzenes.
  3. Specialty chemicals are used in the finished products to improve and enhance the manufacturing process and they can reduce industrial expenses. These chemicals can improve the properties of commodity materials, and they are categorized by their functional area. Also known as effect chemicals or specialties, specialty chemicals are known to be the backbone of so many industries such as food, pharmaceuticals, cosmetics, oil and gas, automobiles, construction, etc. You can find a complete list of specialty chemicals in https://teamchem.co/

Some refer to them as performance chemicals since they are used based on their performance. They can consist of unique molecules or even formulations (which are mixtures of molecules).

Performance chemicals provide a broad range of effects and many other industry sectors rely on them.Among specialties, categories like adhesives, colors, paints, food additives, flavors, cosmetic additives, surfactants, polymers, cleaning materials, construction chemicals, lubricants, fragrances, and agrichemicals are noticed.

As you have realized, specialty chemicals are typically high-value, low-volume, and ultra-high-purity chemicals. The quality, performance, and function of these chemicals are more important than their composition,

How is the specialty chemicals market changing?

The world’s demand for specialty chemicals is increasing day by day. The global specialty chemicals market size has reached US$ 693 Billion by 2021 and it is expected to reach US$ 886 Billion by 2027. Indian performance chemicals industry is predicted to have a growth of 11-12 % and reach approximately US$ 64 Billion by 2025.

China, India, and the Middle East seem to have a ravenous appetite for specialty chemicals, along with the whole world, and the Increasing demand for these high-performance chemicals is the main reason for this growing market.

According to ACC (American Chemistry Council) the industry growth of each chemical category is as follows:

Basic chemicals will grow by 4.3% in 2022

See also  Examining Manhattan's Computer Support Services Wonders

Bulk petrochemicals and organics’ growth will be about 4.6%

Inorganic chemicals are predicted to grow by 4.4%

Plastic resins will have an estimated growth of 4.4%

And specialty chemicals industry output will grow by 6.2% in 2022.

The market size is predicted to have good growth by 2030. Precedencereserach.com suggests that this market size will be increased to US$ 1151.32 Billion by 2030. They have estimated today’s specialty chemicals market size at US$ 807.08 Billion.

Nevertheless, the specialty chemicals market growth depends on the use and combination of technology and chemistry, to manufacture better performance qualities. Essential factors for the market’s future growth or failure are knowledge of chemical arrangements and properties.

By 2020, the biggest share of the specialty chemicals market was held by miscellaneous products, though pharmaceutical ingredients specifically were the close second biggest share. The construction chemicals had the least share.

To review the regional insights, the Asia Pacific region owns 40.80% of the global revenue share, the biggest share among all regions, while China was accountable for almost 39% of the revenue share in 2019. Of course, India was accounting for approximately 23% of the Asia Pacific’s market value.

Europe, North America, the Middle East (and Africa), and Latin America were sequentially the next owners of this market share in 2020.

Key reasons for increasing demand for specialties

Many growth factors have changed the course of events when it comes to chemistry and chemical manufacturing, but these factors are more or less complex in the specialty chemicals field.

Nowadays we are witnessing a large demand for bio-based or green specialty chemicals. Developed countries have come to understand that fossil fuels are no longer an option. Scientists have tried their best to find a green energy replacement, and we are seeking the cleanest chemicals, reactions, and processes. Manufacturers of these chemicals are implementing sustainable initiatives. This means direct competition with fossil-based predecessors, hence, increasing the demand for green chemicals.

The worldwide demand for the personal care products industry, pharmaceutical markets, and building and construction industry is one side of the growing demand. There is excessive and rapid growth in the number of construction projects in the Asia Pacific region. Manufacturers of specialty chemicals are focusing on this area as a destination target and the increasing industry will benefit the specialty chemicals market.

The companies operating in the specialty chemicals markets are trying to have open innovation models. Which means they will need the fastest access to the newest technology improvements. These companies are getting used to having in-house technologies and inventions, which is increasing the costs without developing more effective production processes.

See also  Buy Instagram Followers Vietnam | 3 Best Sites To Buy Instagram Followers In Vietnam In 2023

The most important factor relies on ASEAN countries. India and China are forcing the market to grow faster. Their speedy industrialization leads to more and more demand each day and it is the major reason for the specialty chemicals market growth.

List of specialty chemicals suppliers

The specialty chemicals market is diverse. This market includes more than 50 chemical value chains, and the products are sold based on their quality. Their production process is more or less complex, and many factors change the net price. Therefore, they are only produced by a few manufacturers, and because of the cost drivers, it is hard for companies to keep track of price trends.

In the USA, there are certain suppliers to meet the needs of this industry, and some Indian manufacturers have done a great job in the past decade. Here is a short list of specialty chemicals suppliers:

Technic Inc. was founded in 1944 and has 500-999 employees today. This manufacturer and distributor company has an annual revenue of US$ 100-249.9 Million and is ISO 9001:2008 certified. The main fields of the company’s products are printed circuit boards (PCBs), electronics, and specialties. Silver oxide, silver carbonate, silver, gold, platinum, and palladium chemical powders are manufactured.

Noah Chemicals, an environmental and specialty high-purity chemicals manufacturer, was founded in 1978. The annual revenue of the company is estimated at US$ 25-49.9 Million. Noah Chemicals is located in San Antonio, TX, and has about 50-99 employees working today.

The chemical types that Noah Chemicals is said to produce include alkoxides, metals, inorganics, evaporative, rare earth metals, intermetallic, ceramic chemicals,

Indium Corporationis a service company and manufacturer, founded in 1934. This company is licensed with ISO 9001:2008, as a certified manufacturer of technical and industrial solder chemicals for electronic components, semiconductor chips, batteries, and laboratories. Indium Corporation is also a manufacturer of inorganic compounds like germanium, indium, and gallium.

Economy Polymers & Chemicalsis a company founded in 1951, with annual revenue of US$ 50-99.9 Million, and about 100-199 employees. This company is a manufacturer of acidizing, cosmetics, cementing, drilling, gelled hydrocarbon chemicals, hydraulic fracturing, etc.

Sodee Ventures,a manufacturer and supplier of performance chemicals, was founded in Mumbai, India. They are trading a variety of products, serving many markets and industries like jewelry industries, investment powder, machines, tools, wax, casting units, polishing compounds, etc.

See also  Exploring The Benefits Of Free VPNs And How To Choose The Right One For You

Acton Technologies, Inc. is ISO 14001 certified. This manufacturer company provides specialty chemicals such as cleaners, mercury decontaminant powder, and hand creams, serving some industries like automotive, aerospace, electronics, and more.

Vitex Corp.located in Cleveland, OH, is a custom manufacturing company with an annual revenue of US$1-4.9 Million. Founded in 1970, Vitex Corp. is equipped for custom blending services, compounding, formulating, and the development of many products based on customers’ needs. The company’s products consist of industrial laundry detergents, janitorial cleaners, degreasers, and metal finishing products.

Twin Specialties,founded in 1955 and based in Blue Bell, PA, is a distributor of specialty chemicals like oils and fluids, lubricating and vacuum pump oils, etc. The fields and markets that this company serves are medical, automotive, marine, printing, pharmaceutical, robotics, municipal, military, mining, and marine.

Crucible Chemical Co.is a manufacturer since 1963. This company is located in Greenville, SC, and the number of employees is in the range of 10-49. Crucible Chemicals Co. is manufacturing some specialties such as synthetics, oil-based, organo-silicone, silicone, soaps, detergents, leathers, emulsion antifoams and defoamers, fixative and antistat chemicals, plastics, etc.

Sauradip Chemical Industries is located in Mumbai, India. This manufacturer of specialty chemicals is active in the field of Fiber Finishes, Spin Finishes for man-made fiber, Antistatic Agents, Deducing Agents, etc.

TRInternational, Inc.serves industries such as chemical formulators, is also a distributor of various specialty chemicals like benzylamine, calcium hydroxide, sodium bromide, sorbitol, morpholine, ethyl acetate, diethylamine, and sodium ascorbate.

Of course, many other companies are active in manufacturing and distributing these chemicals, such as:

  • TEAM chemicals, Iran
  • CJ Chemicals,
  • ProChem Inc. is located in Rockford, IL.
  • Toagosei America, Inc. in West Jefferson, OH.
  • Van Horn, Metz Co. Inc. based in Conshohocken, PA.
  • Mayzo, Inc in Suwanee, GA.
  • Hibrett Puratex is a custom manufacturer founded in Pennsauken, NJ.
  • Palmer Holland, Inc., a distributor in Westlake, OH.
  • Modern Chemicals and Plastics, Mumbai, India.
  • Meru Chem in Mumbai, India.
  • Deluxe Metal Processing Chemicals, Mumbai, India.
  • Aadish Impex, is a distributor founded in Thane, India.
  • Noble Chemicals in Thane, India.
  • Melog Specialty Chemicals, Thane, India.
  • Digvijay Pharmaceuticals is based in Thane, India.
  • R.K. Chemicals, Thane, India.
  • K-Tech (India) Limited, a company based in Thane, India.
  • Neyochem Industries, Pune, India.
  • Aquacare Solution Enviro Engineers in Pune, India.
  • Bisan Chemicals and Engineers, located in Pune, India.

And many more.


Spread the love

Sikander Zaman
writing is my profession, doing this from long time. writing for many online websites one of them is scoopearth