These are chemicals used in industry based on their special characteristics in solution. They are also referred to as performance or effect chemicals. They are comprised of special molecules able to create a certain desired change. Some of the specialty chemicals include.
Oil field chemicals
Self emulsifying waxes for cosmetics
Surfactants.
The Asia and pacific continents have a considerable demand due to the rapid emerging markets, better economies and healthy manufacturing sector.
Market Analysis for Specialty Chemicals
In the Asian continent alone, the specialty chemicals sector value stands at 24 billion dollars and market analysts estimate it has potential to reach over 50 billion US dollars. This sector is an important driver of the Indian economy and has an expected growth rate of 13-14% per annum and this is trend that is bound to continue in the year 2017.
Factors Affecting Demand
The demand for specialty chemicals is largely affected by the growth in the consumer/ end user industries, innovation, consumer preferences among other factors.
The fluctuations in the user product lifecycle also creates variations in the demand for these products.
Regulations in usage such as in the oil field chemicals have also had an effect in the growth of this industry. This is due to issues such as environmental concerns, health benefits, and health risks among others. In addition the 2017 market for these chemicals is currently being led by growth in domestic industrial expansion. The growth in the petroleum exploration and extraction will lead to corresponding growth in demand for these chemicals.
The key industries expected to support this growth rate include;
The Automotive Sector
The increased demand for small personal vehicles for comfort travelling will create a demand pull for special chemicals. This industry is seen to be growing at a rate of 10% per annum. Components needed in vehicle manufacture include coatings and lubrication products which are manufactured using special chemicals.
Cosmetic, Personal Care and Hygiene Industries
The self-emulsifying wax is one of the key specialty products from rimpo India compay. It has wide usage in manufacturing companies due to its ability to bind water and oil molecules to create an emulsion. This reaction has made it a very effective skin oil as it enables the skin remain moist despite dry conditions.
Growth in the skin care and cosmetics business in the year 2016-2017, will directly influence the demand of the self-emulsifying wax
With the general increased standards of living, there has been an increased demand pool for personal care items mostly cosmetics for both male and female genders. It is also worthy to note that hygiene chemicals as well as health care items can fall into this category. These products are manufactured with specialty chemicals including emulsifying waxes and surfactants.
Emerging Markets
These present huge growth opportunities for the specialty chemicals industry. Products manufactured by these economies are typically of poorer qualities and with the increasing per Capita incomes for the population. These will soon be the main drivers of demand for the specialty chemicals. These emerging markets include china, some countries of Africa, India and several islands.
