Vietnam Specialty Chemicals Market
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Vietnam Specialty Chemicals Market, By Product Type (Agrochemicals, Rubber Processing Chemicals, Construction Chemicals, Food & Feed Additives, Cosmetic Chemicals, Oilfield Chemicals, Specialty Pulp & Paper Chemicals, Specialty Textile Chemicals, Water Treatment Chemicals, Pharmaceutical & Nutraceutical Additives, CASE (Coatings, Adhesives, Sealants & Elastomers), Others (Institutional & Industrial Cleaners, Electronic Chemicals, Mining Chemicals)); By End User Industry (Automotive, Construction, Consumer Goods, Food & Beverages, Healthcare, Industrial Manufacturing, Oil & Gas, Others (Packaging, Personal Care, Water Treatment)), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
- Published Date: July 2024
- Report ID: BWC24528
- Available Format: PDF
- Page: 200
Report Overview
Rapid industrialization and urbanization and expansion of manufacturing sector are expected to boost the growth of Vietnam Specialty Chemicals Market during the forecast period between 2024 and 2030.
Vietnam Specialty Chemicals Market - Industry Trends & Forecast Report, 2030
Vietnam Specialty Chemicals Market size was estimated to be worth USD 17.3 million in 2023. During the forecast period between 2024 and 2030, Vietnam Specialty Chemicals Market size is projected to grow at a CAGR of 6.30%, reaching a value of USD 26.3 million by 2030.
By volume, Vietnam Specialty Chemicals Market size was estimated at 3.9 million tons in 2023. During the forecast period between 2024 and 2030, Vietnam Specialty Chemicals Market size is expected to expand at a CAGR of 3.80% reaching a volume of 5.1 million tons by 2030.
Major growth factors for Vietnam Specialty Chemicals Market include rapid urbanization and industrialization, stringent environmental regulations, expanding agriculture and manufacturing sectors, and rising investment in research and development activities.
Specialty Chemicals – Overview
Specialty chemicals are either single chemical substances or combinations of several chemical components created for particular uses and occasionally for specific clients. Typically, they are extremely high purity, low volume, high value compounds utilized as steps in bio-pharmaceutical or high-tech processes. Specialty chemicals are chemical substances used as intermediates or raw ingredients at different stages throughout the production of pharmaceuticals. They are materials that are employed based on their functionality or performance.
Vietnam Specialty Chemicals Market
Growth Drivers
Rising Adoption of Sustainable Practices
The increasing shift towards sustainability is emerging as one of the major driving factors for the growth of Vietnam specialty chemicals market. Growing environmental consciousness and regulatory requirements are driving the demand for sustainable and eco-friendly specialty chemicals. Vietnamese companies are investing in green chemistry and sustainable manufacturing practices to meet changing customer demands and regulatory requirements, which is propelling the country's specialty chemicals market growth.
Challenges
Fluctuations in Availability of Raw Materials and Supply Chain
Vietnam Specialty Chemicals Market faces significant challenges due to fluctuations in raw material pricing and supply chain inefficiencies, which act as a barrier to its market growth. The fluctuations in raw material pricing result in inflation in the price of products and supply chain inefficiencies lead to delays in the production of the goods as it hinders the procurement of materials.
Vietnam Specialty Chemicals Market
Segmental Coverage
Vietnam Specialty Chemicals Market – By Product Type
Based on product type, Vietnam Specialty Chemicals Market is segmented into agrochemicals, rubber processing chemicals, construction chemicals, food & feed additives, cosmetic chemicals, oilfield chemicals, specialty pulp & paper chemicals, specialty textile chemicals, water treatment chemicals, pharmaceutical & nutraceutical additives, CASE (coatings, adhesives, and sealants & elastomers), and others (institutional & industrial cleaners, electronic chemicals, and mining chemicals). The institutional & industrial cleaners segment holds the largest share of Vietnam Specialty Chemicals Market. The stringent regulations around maintaining cleanliness and hygiene of products and surroundings act as a major driving factor for institutional & industrial cleaners.
Vietnam Specialty Chemicals Market – By End User Industry
On the basis of end user industry, Vietnam Specialty Chemicals Market is divided into automotive, construction, consumer goods, food & beverages, healthcare, industrial manufacturing, oil & gas, and other (packaging, personal care, water treatment) segments. The construction sector dominates Vietnam Specialty Chemicals Market. Specialty chemicals play a vital role in the construction sector by protecting concrete from air deterioration and improving its strength and quality. The rapid industrialization and urbanization for infrastructural development and economic growth act as a major catalyst for the rising demand for specialty chemicals in the sector.
Competitive Landscape
Major companies in the intensely competitive Vietnam Specialty Chemicals Market include K.D. Feddersen Vietnam Co., Ltd, Oxy Chemicals Co., Ltd, AVCO, Trung Nguyen, MICHEM VIETNAM, Duc Giang Chemical Group Joint Stock Company (DGC), Wacker Chemie AG, VIET A CHEMICAL COMPANY LIMITED, and Adchem Joint Stock Company. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Recent Developments
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In May 2024 – DKSH’s Business Unit Performance Materials, a distributor of specialty chemicals and materials, signed a distribution agreement with Chemours for potential business growth in Southeast Asia, including Vietnam.
Scope of the Report
Attributes |
Details |
Years Considered |
Historical Data – 2019–2023 |
Base Year – 2023 |
|
Estimated Year – 2024 |
|
Forecast Period – 2024–2030 |
|
Facts Covered |
Revenue in USD Million |
Product/ Service Segmentation |
Product Type, End User Industry |
Key Players |
K.D. Feddersen Vietnam Co., Ltd., Oxy Chemicals Co. Ltd, AVCO, Trung Nguyen, MICHEM VIETNAM, Duc Giang Chemical Group Joint Stock Company (DGC), Wacker Chemie AG, VIET A CHEMICAL COMPANY LIMITED, Adchem Joint Stock Company |
By Product Type
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Agrochemicals
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Rubber Processing Chemicals
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Construction Chemicals
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Food & Feed Additives
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Cosmetic Chemicals
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Oilfield Chemicals
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Specialty Pulp & Paper Chemicals
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Specialty Textile Chemicals
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Water Treatment Chemicals
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Pharmaceutical & Nutraceutical Additives
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CASE (Coatings, Adhesives, Sealants & Elastomers)
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Others (Institutional & Industrial Cleaners, Electronic Chemicals, Mining Chemicals)
By End User Industry
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Automotive
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Construction
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Consumer Goods
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Food & Beverages
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Healthcare
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Industrial Manufacturing
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Oil & Gas
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Others (Packaging, Personal Care, Water Treatment)
- Research Framework
- Research Objective
- Product Overview
- Market Segmentation
- Executive Summary
- Vietnam Specialty Chemicals Market Insights
- Industry Value Chain Analysis
- DROC Analysis
- Growth Drivers
- Rapid Industrialization and Urbanization
- Expansion of Vietnam's Manufacturing Sector
- Environmental Concerns and Stricter Regulations in Vietnam
- Increased Investment in Research and Development (R&D)
- Restraints
- Stringent Environmental Regulations and Concerns
- Intense Competition from Established Global Players
- Opportunities
- Growing Construction Sector in Vietnam
- Expanding Middle-Class Population in Vietnam
- Adoption of Advanced Manufacturing Techniques
- Challenges
- Lack of Raw Material Availability and Supply Chain Issues
- Fluctuating Prices of Raw Materials
- Growth Drivers
- Technological Advancements/Recent Developments
- Regulatory Framework
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Vietnam Specialty Chemicals Market: Marketing Strategies
- Vietnam Specialty Chemicals Market Overview
- Market Size & Forecast, 2019–2030
- By Value (USD Million)
- Market Share and Forecast
- By Product Type
- Agrochemicals
- Rubber Processing Chemicals
- Construction Chemicals
- Food & Feed Additives
- Cosmetic Chemicals
- Oilfield Chemicals
- Specialty Pulp & Paper Chemicals
- Specialty Textile Chemicals
- Water Treatment Chemicals
- Pharmaceutical & Nutraceutical Additives
- CASE (Coatings, Adhesives, Sealants & Elastomers)
- Others (Institutional & Industrial Cleaners, Electronic Chemicals, Mining Chemicals etc.)
- By End-User Industry
- Automotive
- Construction
- Consumer Goods
- Food & Beverages
- Healthcare
- Industrial Manufacturing
- Oil & Gas
- Others (Packaging, Personal Care, Water Treatment etc.)
- By Product Type
- Market Size & Forecast, 2019–2030
- Competitive Landscape
- List of Key Players and Their Offerings
- Vietnam Specialty Chemicals Market Share Analysis, 2023
- Competitive Benchmarking, By Operating Parameters
- Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- Impact of Escalating Geopolitical Tensions on Vietnam Specialty Chemicals Market
- Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- K.D. Feddersen Vietnam Co., Ltd
- Oxy Chemicals Co. Ltd
- AVCO
- Trung Nguyen
- MICHEM VIETNAM
- Duc Giang Chemical Group Joint Stock Company (DGC)
- Wacker Chemie AG
- VIET A CHEMICAL COMPANY LIMITED
- Adchem Joint Stock Company
- Other Prominent Players
- Key Strategic Recommendations
- Research Methodology
- Qualitative Research
- Primary & Secondary Research
- Quantitative Research
- Market Breakdown & Data Triangulation
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents
- Assumptions & Limitations
- Qualitative Research
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
Figure 1 Vietnam Specialty Chemicals Segmentation
Figure 2 Vietnam Specialty Chemicals Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2023
Figure 4 Vietnam Specialty Chemicals Market Size, By Value (USD Million), 2019–2030
Figure 5 Vietnam Specialty Chemicals Market Share, By Product Type, By Value, 2019–2030
Figure 6 Vietnam Specialty Chemicals Market Share, By End-User Industry, By Value, 2019–2030
List of Tables
Table 1 Vietnam Specialty Chemicals Market Size, By Value (USD Million), 2019–2030
Table 2 Vietnam Specialty Chemicals Market Share, By Product Type, By Value, 2019–2030
Table 3 Vietnam Specialty Chemicals Market Share, By End-User Industry, By Value, 2019–2030
Table 4 K.D. Feddersen Vietnam Co., Ltd Company Overview
Table 5 K.D. Feddersen Vietnam Co., Ltd Financial Overview
Table 6 Oxy Chemicals Co. Ltd Company Overview
Table 7 Oxy Chemicals Co. Ltd Financial Overview
Table 8 AVCO Company Overview
Table 9 AVCO Financial Overview
Table 10 Trung Nguyen Company Overview
Table 11 Trung Nguyen Financial Overview
Table 12 MICHEM VIETNAM Company Overview
Table 13 MICHEM VIETNAM Financial Overview
Table 14 Duc Giang Chemical Group Joint Stock Company (DGC) Company Overview
Table 15 Duc Giang Chemical Group Joint Stock Company (DGC) Financial Overview
Table 16 Wacker Chemie AG Company Overview
Table 17 Wacker Chemie AG Financial Overview
Table 18 VIET A CHEMICAL COMPANY LIMITED Company Overview
Table 19 VIET A CHEMICAL COMPANY LIMITED Financial Overview
Table 20 Adchem Joint Stock Company: Company Overview
Table 21 Adchem Joint Stock Company Financial Overview
Market Segmentation
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