China and Japan Specialty Chemicals Market Booming by Size, Revenue, Trend and Top Growing Companies 2032

Market Introduction
The China and Japan specialty chemicals market captured a market value of USD 257.52 billion in 2021 and is projected to reach USD 451.96 billion by the year 2030. The market is projected to list a CAGR of 6.49% during the forecast period.
The increasing repair and maintenance activities in construction field, coupled with the rising demand from end use industries, such as automotive, cosmetics, semiconductors, is substantially fueling the growth rate of the specialty chemicals industry in China and Japan.
Moreover, the rising technological advances created by companies operating in the market creates lucrative opportunities for the market to grow in the forecast period. In contrast, the fluctuating and varying cost of raw materials and their availability is hindering the growth rate of the specialty chemicals in China and Japan.

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Growth Influencers:
Increasing demand of construction chemicals
The demand for construction chemicals highly depends on new constructions coupled with its maintenance and repair activities. The demand for such specialty chemicals is chiefly driven by the increasing requirements for infrastructure and housing. The demand for specialty chemicals is driven by consumer awareness and the need for long-lasting and aesthetic civil structure. Such increasing demand fuels the growth rate of specialty chemicals market.
Continuous development and production of novel eco-friendly specialty chemicals and increasing awareness
The rising awareness related to the production of novels and environment friendly specialty chemicals is pushing companies to develop products and create awareness about such aspects in their product portfolio. For instance, in October 2021, Mitsubishi Chemical Corporation signed a licensing agreement with Mitsui Chemicals, Inc. for the patent including MCC-owned basic patent on a biomass-based polyester. Similarly, in November 2021, Mitsubishi Chemical Corporation joined the Energy Transition Initiative-Center for Global Commons (ETI-CGC), an initiative launched by the Center for Global Commons (CGC) at the University of Tokyo and Japanese companies. Thus, such measures create awareness, and the product launches and approvals fuel the growth rate of the market.

Segments Overview:
The China and Japan specialty chemicals market is segmented into type, functional specialty, and end use industry.
By Type,
? Construction Chemicals
? Cosmetic/ Personal Care Chemicals
? Electronic Chemicals
? Semiconductors and IC process chemicals
? Printed circuit board chemicals
? Semiconductor packaging materials
? Food Additives
? Feed Additives
? Institutional & Industrial Cleaners
? Lubricating Oil Additives
? Mining Chemicals
? Nutraceutical Ingredients
? Oilfield Chemicals
? Pharmaceutical Additives
? Plastic Additives
? Printing Inks
? Rubber Processing Chemicals
? Specialty Pulp & Paper Chemicals
? Synthetic Lubricants
? Textile Chemicals
? Water Treatment Chemicals
The electronic chemicals segment is expected to be the fastest growing segment with a growth rate of 8.8% during the projected period. The plastic additives segment is projected to hold an opportunity of USD 12.1 billion during the period of 2022 to 2030. Moreover, the water treatment chemicals segment is estimated to cross the market value of USD 30 billion by 2028. Furthermore, the institutional and industrial cleaners segment volume is projected to cross the mark of 25 million tons by 2028.
By Functional Specialty,
? Antioxidants
? Biocides
? Catalyst
o Petroleum refining and chemical process catalysts
o Emission control catalysts
o Corrosion inhibitors
? Flame Retardants
? Flavors and Fragrances
? Specialty Adhesives and Sealants
? Specialty Coatings
o High-performance anticorrosion coatings
o Thermosetting powder coatings
o Radiation-curable coatings
? Specialty Polymers
o Engineering thermoplastics
o Specialty films
o High-performance thermoplastics
? Surfactants
? Water-soluble Polymers
The specialty adhesives and sealants segment is anticipated to grow at the highest rate of 8.35% during the forecast period. The specialty polymers segment held the largest market share of over 50%. On the basis of catalyst segment, the emission control catalysts sub-segment held the largest market share of more than 75% among all catalyst in 2021.
By End Use Industry,
? Automotive
? Chemical production
? Construction
? Electronics
? Fibers and textiles
? Food
? Household and personal care products
? Mining
? Paper
? Thermoplastics
The construction segment is expected to grow at the highest CAGR of 8.29%, whereas the electronics segment is projected to generate two-fold revenues during 2019 to 2030. The automotive segment held the largest market share of more than 15% in 2021 owing to the extensive use of specialty chemicals in automotive field.

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Country Overview

The China and Japan specialty chemicals market is expected to grow extensively during the forecast period owing to the escalating product launches, approvals, and partnerships. The Chinese market for specialty chemicals is projected to cross USD 300 billion by 2027 owing to the rising approvals and adoption rate. Moreover, the Japanese market for specialty chemicals is predicted to grow highest at the rate of 7.60% due to the rising usage of specialty chemicals in infrastructure and construction activities.

Competitive Landscape

The prominent players operating in the China and Japan specialty chemicals market include KPMG, Huntsman Corporation, Eastman Specialty Chemicals Ltd., Wanhua Chemical, Sinopec, Rongsheng Petrochemical, Mitsubishi Chemical Corporation, BASF SE, Clariant AG, China Petroleum & Chemical Corporation, DowDuPont Inc., Ashland Global Holdings Inc., Evonik Industries AG, Akzo Nobel N. V., LOTTE Fine Chemical, Mitsui Chemicals Inc. among others.

The major ten players in the China specialty chemicals business market holds approximately 45 to 60% of the total market share, whereas the cumulative market share of Japan specialty chemicals industry accounts for 50 to 60%. These market players are rigorously investing in acquisitions, product launches, joint ventures, mergers, expansions, to sustain in the market. In October 2021, Clariant Catalyts partnered with Linde Engineering to develop new catalysts for the oxidative dehydrogenation of ethane (ODH-E), an innovative, low-emissions catalytic technology for the production of ethylene.

The China and Japan specialty chemicals market report provides insights on the below pointers:

? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the China and Japan specialty chemicals market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various components used in the manufacturing of medical supplies
? Manufacturing Cost Analysis: Cost-share of various components in medical supply products, cost analysis, unit cost analysis
The China and Japan specialty chemicals market report answers questions such as:

? What is the market size and forecast of the China and Japan specialty chemicals market?
? What are the inhibiting factors and impact of COVID-19 on the China and Japan specialty chemicals market during the assessment period?
? Which are the types/segments/applications/areas to invest in over the assessment period in the China and Japan specialty chemicals market?
? What is the competitive strategic window for opportunities in the China and Japan specialty chemicals market?
? What are the technology trends and regulatory frameworks in the China and Japan specialty chemicals market?
? What is the market share of the leading players in the China and Japan specialty chemicals market?
? What modes and strategic moves are considered favorable for entering the China and Japan specialty chemicals market?

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