Companies
operating in the specialty chemicals market would be seen improving their
product quality as well as organizational efficiency.
Tata Strategic Management,
changed opinions of eminent industry leaders when it announced that the
specialty chemicals market will generate $25 billion in 2014. Officials at the
company reveal that the industry will cross $100 billion by 2024 in India.
Today, the demand in the specialty chemicals market is driven by the recent
improvements in local consumption, say research analysts at Allied Market
Research. Industry experts gauging the size and share, trends, growth and
demands in the Specialty chemicals market outline that softening of trade
activities in China has improved the market performance in several Asian
countries, including India.
Researchers highlight that
world specialty chemicals is projected to generate about $233.5 billion by
2020. Moreover, the specialty chemicals market is expected to register a CAGR
of 5.4% during the assessment period. Ink additives, which has emerged by the
fastest growing category is projected to register a CAGR of 5.8% between 2014 –
2020.
Watch What One of India’s
Prominent Market Player Says!
Demand
for Specialty Chemicals in Food Grows
The food chemical segment
observed an increased demand between 2009 – 2013. During the assessment period,
the sector had generated about $29.94 billion to $36.45 billion, according to a
2014 study by Leatherhead. The growth value of which is more apparent in the hydrocolloids
segment, is projected to be over 10% annually. Other categories of the
specialty food chemicals have also performed over the past five to six ears.
In addition, the annual growth observed
with the flavor and emulsifier industry is projected to be between 5% to 10%
per year highlights Jonathan Thomas at Leatherhead Food Research. Another key
market driver for food chemicals is associated with the expansion of the
processed food industry in less explored market. The food & beverage sector
in the regions including North America and Europe is mature. So manufacturers
active in the specialty chemicals market are seen exploring new markets.
Courtesy:
acs.org
Water
Treatment Chemical Prices On Constant Rise
Association of Metropolitan
Water Agencies had conducted a survey on the utilities of drinking water in
2008. The study was carried out to understand the specifies of the water, chemicals such as their
price changes. The chemicals that showed an increase in price included
phosphoric acid, caustic soda, and flurosilicic acid. While phosphoric acid
showed an average increase of 80% from 25 utilities, the phosphoric acid showed
about 223% increase from 12 utilities.
In addition, 41 utilities
reported using fluoride. The global market of water treatment chemicals was
valued at about $11,006.6 million in 2013. Industry leaders at Allied Market
Research estimate the sector to garner $18,824.0 million by 2020 and register a
CAGR of 7.6% from 2014 to 2020. The surfactant sector is believed to be the
fastest growing industry, registering a CAGR of 8.6% during the forecast
period. Besides this, LAMEA is one of the fastest growing regions that is growing
a CAGR of 9.3% during the assessment period. This will create new opportunities
for specialty chemicals market in the region.
Courtesy:
#watertreatment
Big
Brands Strengthen Competitive Landscape in Construction Chemical Category
Big Brands have now identified
the huge potential of establishing their construction chemicals plants in the Asian
countries. In a recent incident, BASF has inaugurated its sixth construction,
chemical factory in India. With the new unit, the company hopes to serve the
growing need for high quality products, particularly in the eastern part of
India. Commenting on the recent development Christian Mombaur, the senior vice
president, at BASF Asia -Pacific
construction chemicals said “Asia-Pacific is one of the fastest growing markets
globally, and India is a strategic growth engine of this market. Mombaur
explained “The Kharagpur plant will help us better serve the growing demand for
durable and energy efficient.” Officials at Tata Strategic Management outline
that the construction chemicals sector in India is projected to generate
approximately Rs. 7,000 Crore by 2019.
Another company based in
Switzerland, called Clariant has established a new production unit for
preparing water – based pigment in Mexico. Nuberg made headlines when it won
$76 million project in the United Arab Emirates from a chemical factory of the Saif
Al Khaili Group. In a statement, the United Arab Emirates company outlines The $76
million project envisions to set up a 150 TPD Chlor Alkali / Caustic Chlorine
plant in Khalifa Industrial Zone Abu Dhabi (KIZAD), UAE, which will produce
caustic soda and other chlorine derivatives such as Caustic Soda, Chlorine,
Sodium Hypochlorite and Hydrochloric Acid." Echoing his sentiments Louai
Kasem, chief operating officer at Emirates Chemical Factory said "We are
delighted to have Nuberg on board... Nuberg will definitely add value to our
endeavour with its excellent turnkey project engineering capabilities and
quality services coupled with highly competitive costs.”
Green
Oilfield Chemicals Are Trending
New manufacturing plants are
being opened to support the industry’s efforts to manufacture green products.
Huge investments are made on technical centers to develop products that are
especially based on stabilized alkali metal platform. SiGNa Chemistry has made
a bold move in this direction by inaugurating its new plant that produces
materials uses for a wide range of improved oil recovery activities throughout
North America. This fast – developing start-up is said to be nearing its plant
capacity and is planning on setting up a second manufacturing unit. Earlier, Dorf Ketal had made a huge
investment in a United States based make of oilfield chemical, Flowchem. The
acquisition of Flowchem includes 2 blending units in the United States, thus
offering Dorf Ketal an opportunity to strengthen its hold in the oil and gas
upstream industry. Commenting on the acquisition David Johnson, the president
of the Dorf Ketal Oilfield Chemicals said “Flowchem’s portfolio of oilfield
production and drilling products will be combined with Dorf Ketal’s products
currently servicing offshore fields in Brazil to improve capabilities of both
entities.”
Considering significant changes
in the different segment it becomes evident that improving the productivity and
organizational efficiency would top the list of many companies in 2016.
