Recycled Plastic is Catalyzing the Market Growth of the Specialty Chemicals Market in the US
The rising demand for recycled plastic is pushing the market growth of the #SpecialtyChemicalsMarket in the US. It is expected to reach USD?40.48 billion by 2026. The market is accelerating growth at a CAGR of 4.00%. Specialty Chemicals Market is segmented based on its type and function.
Navigating Through the Business Drivers of the Specialty Chemicals Market in the US
The rising #awareness and #mindfulness of the importance of a healthy lifestyle have pushed industries to opt for environmentally friendly and #sustainable solutions.
Recycled plastics provide new opportunities for waste reduction, #energyconservation, #carbonemission reduction, and water consumption reduction, while still delivering high quality and performance with longer shelf life.
Therefore, the adoption of eco-friendly alternatives across different applications has led to an increased demand for recycled plastics and subsequently boosted the need for plastic additives propelling the growth of the specialty chemicals market throughout the US.
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Market Trends: When it comes to the current market trends or practices in the specialty chemical market #biodegradableplastics in everyday consumer goods applications, particularly in the packaging industry, have witnessed a significant surge. The incorporation of #biobased resins enables the use of #plasticadditives in a wider range of applications thus the #packagingsector has greatly #benefited. Thus, increasing preference for environmentally friendly bio-based chemicals is expected to drive #marketgrowth.
Vendor Analysis: market vendors are greatly capitalizing on the growth prospects in this expanding industry. 3M 公司 ., 巴斯夫 , Corteva Agriscience Inc., 杜邦 ., 赢创工业集团 , and 埃克森美孚 are some of the market leaders worth mentioning.
For instance, 3M 公司 Co offers specialty chemicals that are specially formulated to protect porous surfaces such as concrete, stone, and tile from both water and oil-based stains.
Our report captures the growth trajectory of the market and is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking?with a wider?understanding of the business ecosystem.?Order a free sample report today.
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