The specialty chemicals market is anticipated to showcase a considerable CAGR of 3.7% during the forecast period (2020-2026). The chemical industry of Europe is among the largest manufacturing sectors. In 2018, the European Union (EU) chemical industry represented nearly 7.5% of the EU manufacturing in terms of turnover. EU chemical industry generated around $648.7 billion of revenue in 2018, which is approximately 17.0% of the global chemical sales. The rise in demand for high performance and function-specific chemicals in the end-user industries is a key factor driving the European specialty chemical market. Chemical activities and industrial production are closely tied to the major end markets such as construction, electronics, food additive, and automotive among others. Europe is a major market player in the automobile industry. The growing use of specialty chemicals in the manufacturing of automobiles is anticipated to drive the growth of the specialty chemical market across the region.

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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, automobile chemicals are anticipated to hold a considerable market share. The growing use of specialty chemicals in the automobile industry is a key factor contributing towards the high share of the market segment. 

The Key players in the specialty chemicals market include Akzo Nobel N.V., Albemarle Corp., Ashland Inc., BASF SE, Bayer AG, Chemtura Corp., Chevron Philips Chemical Co., Clariant AG, Covestro AG, DuPont Inc., Eastman Chemical Co., Evonik Industries AG, and so on. The key players of the market are involved in making innovations in their products offering to suit the industrial application to remain competitive in the marketplace. Moreover, some players are adopting different growth strategies such as mergers & acquisitions, and product launches to thrive in the European market. 

Research Methodology

The market study of the European specialty chemicals market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. The analysts try to contact as many executives, managers, key opinion leaders, and industry experts to bring more authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European Specialty chemicals Market Research And Analysis By Product Type

The Report Covers

• Comprehensive research methodology of the European specialty chemicals market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European specialty chemicals market.
• Insights about market determinants that are stimulating the European specialty chemicals industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.