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Vietnam Specialty Chemicals Market

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.

Vietnam Specialty Chemicals Market

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.

Vietnam Specialty Chemicals Market Demand

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.

Vietnam Specialty Chemicals Market Size

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

  • 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

  • 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)

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3.  Vietnam Specialty Chemicals Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rapid Industrialization and Urbanization
        2. Expansion of Vietnam's Manufacturing Sector
        3. Environmental Concerns and Stricter Regulations in Vietnam
        4. Increased Investment in Research and Development (R&D)
      2. Restraints
        1. Stringent Environmental Regulations and Concerns
        2. Intense Competition from Established Global Players
      3. Opportunities
        1. Growing Construction Sector in Vietnam
        2. Expanding Middle-Class Population in Vietnam
        3. Adoption of Advanced Manufacturing Techniques
      4. Challenges
        1. Lack of Raw Material Availability and Supply Chain Issues
        2. Fluctuating Prices of Raw Materials
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. Vietnam Specialty Chemicals Market: Marketing Strategies
  5. Vietnam Specialty Chemicals Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
    2. Market Share and Forecast
      1. By Product Type
        1. Agrochemicals
        2. Rubber Processing Chemicals
        3. Construction Chemicals
        4. Food & Feed Additives
        5. Cosmetic Chemicals
        6. Oilfield Chemicals
        7. Specialty Pulp & Paper Chemicals
        8. Specialty Textile Chemicals
        9. Water Treatment Chemicals
        10. Pharmaceutical & Nutraceutical Additives
        11. CASE (Coatings, Adhesives, Sealants & Elastomers)
        12. Others (Institutional & Industrial Cleaners, Electronic Chemicals, Mining Chemicals etc.)
      2. By End-User Industry
        1. Automotive
        2. Construction
        3. Consumer Goods
        4. Food & Beverages
        5. Healthcare
        6. Industrial Manufacturing
        7. Oil & Gas
        8. Others (Packaging, Personal Care, Water Treatment etc.)
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Vietnam Specialty Chemicals Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  7. Impact of Escalating Geopolitical Tensions on Vietnam Specialty Chemicals Market
  8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. K.D. Feddersen Vietnam Co., Ltd
    2. Oxy Chemicals Co. Ltd
    3. AVCO
    4. Trung Nguyen
    5. MICHEM VIETNAM
    6. Duc Giang Chemical Group Joint Stock Company (DGC)
    7. Wacker Chemie AG
    8. VIET A CHEMICAL COMPANY LIMITED
    9. Adchem Joint Stock Company
    10. Other Prominent Players
  9. Key Strategic Recommendations
  10. Research Methodology
    1.  Qualitative Research
      1.  Primary & Secondary Research
    2.  Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents
    5.  Assumptions & Limitations

*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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Frequently Asked Questions (FAQs):

Ans: Vietnam Specialty Chemicals Market size was estimated at USD 17.3 million in 2023.
Ans: During the forecast period between 2024 and 2030, Vietnam Specialty Chemicals market size is expected to grow at a CAGR of 6.30% a value of USD 26.3 million by 2030.
Ans: Major factors driving the growth of Vietnam Specialty Chemicals Market include rapid industrialization and urbanization and expansion of Vietnam's manufacturing sector.
Ans: Key players in 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.
Ans: The construction segment holds the highest market share in Vietnam Specialty Chemicals Market by end user industry.