Agrochemicals and Paints & Coatings Leads the Specialty Chemicals Demand - Market Research Report (2020-2026)
Industry Experts, Inc. released an updated 2021 version of the market research report on Specialty Chemicals. As per the new report, the market for Agrochemicals is estimated the largest amongst all other chemical types in 2020 accounting for a share of 22% closely followed by Paints & Coatings. The evolutionary nature of the Specialty Chemicals business has meant that the traditionally dominant regions of North America, Europe and Japan have made way for fast growth in emerging Asian, South American and Middle Eastern & African economies. Asia-Pacific, in fact, is estimated as the largest, as also the fastest growing, global market for Specialty Chemicals . This growth can be attributed to rapid industrialization, improved standards of living in several developing regions, discernible shift in the global chemical industry’s center of gravity towards the Middle East due to the abundant availability of cheap petrochemical feedstocks and Asian markets offering cheap labor couple...