Malaysia Specialty Chemicals Market, By Application (Construction Chemicals, Dyes & Pigments, Agrochemicals, Surfactants, and Others), By Region, Competition 2024-2028
Published Date: December - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Chemicals | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMalaysia Specialty Chemicals Market, By Application (Construction Chemicals, Dyes & Pigments, Agrochemicals, Surfactants, and Others), By Region, Competition 2024-2028
In 2022, the sales value of manufactured pesticides and agrochemical products in Malaysia was around USD 910 million.
Malaysia specialty chemicals market is expected to expand during the projected period due to increasing use in agrochemicals as urbanization and industrial development accelerate due to which agricultural land decreases, leading to a higher demand for agrochemicals to significantly raise crop yield per acre of land, thereby propelling the growth of the market in the upcoming years.
Malaysia specialty chemicals market is a dynamic and competitive sector that offers opportunities for growth and innovation. The market players are focusing on expanding their product portfolio, enhancing their quality standards, improving their distribution network, and increasing their market share. Along with this, merger and acquisition activity in the specialty chemicals market enhances companies' presence in the region as these acquisitions help companies to better serve their customers and meet the growing demand for specialty chemicals in Malaysia in the forecasted period.
For instance, Malaysian chemical company, Petronas Chemical Group Berhad (PCG) acquired Da Vinci Group B.V., a Netherlands-based company producing specialty chemicals such as silicones and lubricant oil additives. The acquisition marks PCG’s commitment to expanding its business into the promising specialty chemicals segment.
Rising Demand from Automotive Industry
Specialty chemicals are used in the automotive industry, usually in the production of adhesives, sealants, coatings, lubricants, and plastics. The demand for lightweight automobiles continuously increases as lightweight vehicle improve the fuel efficiency and meet regulatory requirements for lower emissions. Specialty chemicals such as lubricants, adhesives, and coatings are used to reduce friction and wear in engines, transmission systems, and other components as well as used to create coatings that provide protection against weathering and other environmental factors, improving the durability of lightweight materials. They are used to improve the performance of batteries, catalytic converters, and other emissions control systems, reducing the environmental impact of vehicles. Several researchers estimate that the increased expenses per kilogram of weight saved in vehicle weight reduction measures will be possible with electric automobiles.
Regular IC engine-powered automobiles can save 2-3 per kilogram of weight, whereas electric vehicles can save 7-8/kg. In their regular driving cycles, general cars use more energy when accelerating, but they may also recover more kinetic energy through braking energy recovery. A lighter vehicle body enables battery reduction while preserving range in electric cars. By allowing the shrinking of other sections like the brake system and driven train components, a lighter vehicle body, and battery pack further contribute to the total weight reduction of the electric vehicle. Electric vehicles require specialized components and materials that are different from those used in regular IC engine-powered automobiles. Specialty chemicals are used to improve the safety of vehicles, helping to reduce the risk of accidents and injuries by providing protection against corrosion, and reducing the risk of component failure.
For instance, BASF provide specialty chemicals for the automotive industry including additives and pigments for plastics that go into automotive interiors and exteriors.
Moreover, specialty chemicals are assimilated for the drugs manufacturing for cardio-vascular disease, Hughes syndrome, and skin-care diseases. They are created from fundamental chemical compounds in sizable reactors at various manufacturing facilities. Many specialized chemicals, such as catalysts, are employed in industrial pharmaceutical operations, including the manufacture of paracetamol, vitamin K, and erythromycin. Additionally, to address growing climate change concerns, modern catalysts like nano catalysts aid in making the drug development process cleaner and greener.
For instance, Clariant produces excipients and Polyethylene Glycols (Macrogols) used as solubilizers, emulsifiers, solvents, rheology modifiers, binders, humectants, plasticizers etc. for all sorts of pharmaceutical dosage formulations.
Therefore, the rising demand from automotive and pharmaceuticals sector led to the growth of Malaysia specialty chemicals market in the projected year.
Growing use of Specialty Chemicals in Agrochemicals
Malaysia is an agriculture country, many valuable crops such as palm oil, rubber, and cocoa has always been important in the region. Food crops such as tropical fruits and rice are essential. The population of the region has been increasing rapidly resulting in increasing demand of food. Moreover, arable land is declining due to industrialization and urbanization, which decreased agricultural production, negatively impacting the region's growth, and leading to food security concerns. To overcome this issue, the farmers increase utilization of agrochemicals. Agrochemicals are chemicals that are used in agriculture to protect crops from pests and diseases, enhance plant growth, and improve crop yield. These chemicals include pesticides, herbicides, fungicides, and fertilizers. Specialty chemicals can be used in agrochemical formulations to improve their efficacy, stability, or safety. These chemicals are used as solvents or carriers in agrochemical formulations to enhance their delivery to crops. Additionally, some specialty chemicals can be used as active ingredients in biopesticides, which are increasingly being used as a more sustainable alternative to traditional chemical pesticides. Along with it, adjuvants are added in agrochemicals that increase the effectiveness of an agrochemical due to several modes of action, such as facilitated wetting, penetration, or better retention, these agrochemical adjuvants are made from specialty chemicals.
For instance, Dow Chemical produces agrochemicals adjuvants namely POWERBLOX RF-65 Rainfastness Adjuvant, which is a specially designed co-polymer, and used for aqueous pesticide formulations.
Furthermore, Clariant launched the Synergen brand series agrochemical adjuvant which enhances the performance of agrochemicals.
Thus, increasing demand for agrochemicals dominate the growth of the Malaysia specialty chemicals market in the upcoming years.
Increasing Demand for Construction Chemicals
Malaysia is working with a vision to develop industry at an advanced and modern level and making this sector as one of the high contributors of the economic development in the nation. Rapid urbanization, growing use of Ready-Mix Concrete (RMC) and green chemical will lead to increase in usage and quality of chemicals in construction sector. The specialty chemicals used in the construction sector are also known as construction chemicals. Residential sector, commercial sector, industrial sector and government infrastructure projects are the most prominent users of construction chemicals. These construction chemicals help to enhance the structural and decorative properties of a building and extend its life. They reduce the need for repairs and help concrete structures retain their strength. Construction chemicals, such as surface treatment chemicals, foaming agents, and coatings, are some of the most critical components of the construction process.
For instance, Malaysian government plans to spend USD 3.9 billion on transport infrastructure, specifically to build and upgrade roads and highways and upgrade existing roads, airports, and ports.
However, specialty chemicals are manufactured from the bulk chemicals, and bulk chemicals are obtained from crude oil, the price of the crude oil is highly volatile which fluctuate the cost of bulk and specialty chemicals which makes it difficult for companies to plan their operations and investments effectively and the prices significantly impact on the demand of specialty chemicals. In addition to this, the specialty chemicals have a disposable high cost because it must go through various procedures. It increases the production cost which restrain the growth of the market. Moreover, increasing environmental stringent regulations related to the disposal of hazardous waste and the use of environmentally friendly materials as well as the competition from the availability of less expensive conventional counterparts of specialty chemicals are resulting in slowing down the market growth.
Download Free Sample Report
Recent Development
- In 2023, Clariant IGL Specialty Chemicals (CISC) showcase renewable-based ethylene oxide derivatives at ChemExpo India.
- In 2022, Petronas Chemicals Group Bhd (PetChem) will buy the entire stake in Perstorp Holding AB, a sustainability-driven global specialty chemicals company, for USD 2.33 billion.
- In 2022, Azelis reached an agreement to acquire 100% of the shares of Chemical Solutions Sdn Bhd (ChemSol), one of the leading distributors of raw materials in the personal care, cosmetics, and household markets in Malaysia.
- In 2020, PCC and PETRONAS Chemicals Group planned joint production of specialty chemicals in Malaysia.
Market Segmentation
Malaysia specialty chemicals market
Company Profiles
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report coverage | Revenue forecast, Company shares, competitive landscape, growth factors, and trends |
| Segments covered | Application |
| Region scope | East Malaysia, West Malaysia |
| Key companies profiled | BASF (Malaysia) Sdn. Bhd., Dow Chemical Pacific Ltd, PETRONAS Chemicals Group Berhad (PCG), Clariant (Malaysia) Sdn Bhd, Eastman Chemical (Malaysia) Sdn Bhd, Evonik Malaysia Sdn Bhd, Hextar Global Berhad, Azelis Malaysia Sdn. Bhd., Suka Chemicals (M) Sdn Bhd, DKSH Holdings (Malaysia) Berhad |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy