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Increasing demand for high-performance coatings is likely to promote innovation in the manufacture of smart city platforms, boosting the market during the forecast period.

The global smart city platforms market is expected to grow from $712.64 billion in 2022 to $744.58 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The global speciality chemicals market size is expected to grow to $873.22 billion in 2027 at a CAGR of 4.1%.

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Global Smart City Platforms Market Segments Include:

• By Product Type: Agrochemicals, Dyes and Pigments, Construction Chemicals, Speciality Polymers, Textile Chemicals, Base Ingredients, Surfactants, Functional Ingredients, Water Treatments
• By Source: Crude Oil, Naphtha, Ethane, Propane, Butane, Wood
• By End-Use: Industrial, Construction, Cosmetics and Personal Care, Pharmaceutical, Electrical and Electronics, Mining and Oilfield
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global smart city platforms market in 2021.

Major Market Players in the smart city platforms market include Solvay Speciality Chemicals Ltd., Evonik Industries AG, Clariant AG, Akzo Nobel NV, BASF SE, Lanxess AG, Huntsman Corporation, Bayer AG, Dow Chemical Company.

Product innovation is a crucial trend in the specialty chemicals market that is gaining traction. Major market players are focusing on research and development for product developments that will provide new benefits and contribute to a higher yield. Such product advancements allow businesses to acquire a competitive advantage in the market. P2X-Europe GmbH & Co. KG, a Germany-based joint venture between H&R and Mabanaft, for example, introduced SynZero, synthesis-based speciality chemical products, and e-fuels in September 2022. SynZero products are operationally and chemically equivalent to petroleum fuels, and they eliminate some undesirable aspects of fossil fuel production and use, such as greenhouse gas (GHG) pollutant emissions. It can replace traditional hydrocarbons derived from fossil fuels without causing consumer annoyance by providing innovative transportation solutions with lower CO2 emissions.

The Smart City Platforms Global Market Report 2023 provides a smart city platforms market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The smart city platforms market forecast analyzes smart city platforms market size, smart city platforms market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Speciality chemicals, also known as effect chemicals, are chemical products that have a variety of effects and are employed in a variety of other industries.

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