Specialty Polymers Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Type (Specialty Elastomers, Specialty Composites, Specialty Thermoplastics, Specialty Thermosets, and Other Types), End-user Industry (Automotive and Transportation, Consumer Goods, Building and Construction, Coatings, Adhesives and Sealants, Electrical and Electronics, Healthcare, and Other End-user Industries), and Geography

Market Snapshot

Specialty Polymers Market - summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The global specialty polymers market is expected to record a CAGR of over 7% during the forecast period of 2019–2024. The major factors driving the market studied are the increasing applications in the construction and electronic industries, commercialization of lightweight polymers for automotive and aerospace applications, and the increasing availability of feedstock derived from natural gas and crude oil processing.

  • Fluctuating operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the growth of the market studied.
  • Emerging specialty polymer technologies in a myriad of industrial applications and prolific commercialization of engineered polymer and specialty film products are likely to act as opportunities to the market studied over the forecast period.

Scope of the Report

The global specialty polymers market report includes:

Type
Specialty Elastomers
Specialty Composites
Specialty Thermoplastics
Specialty Thermosets
Other Types
End-user Industry
Automotive and Transportation
Consumer Goods
Building and Construction
Coatings, Adhesives, and Sealants
Electrical and Electronics
Healthcare
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Automotive & Transportation Industry to Dominate the Market

  • Owing to their suitable properties, such as excellent thermal resistance, wear resistance, ease of processing and designing, and fatigue endurance, specialty polymers are extensively used in the automotive and transportation industries.
  • These materials are reliable and safe for use in vehicles due to their exceptional thermal resistance. They provide sophisticated aesthetic appeal to vehicles, at competitive prices.
  • With the rise in demand for lightweight and fuel-efficient cars, the use of polymers has increased in automotive parts for replacing heavy metals, in order to reduce weight. It has been estimated that every 10% reduction in vehicle weight results in a 5-7% reduction in fuel usage.
  • As specialty polymers play a key role in automobile manufacturing, the demand for these materials is increasing with the rising sales of vehicles across the world.
  • The automotive polymer composite industry fosters economic activity indirectly throughout the supply chain of a vehicle, and through the payrolls paid both by the industry itself and the consumers. The light vehicle industry is an important customer for various specialty polymers, and there exists a significant competition, especially with aluminum and steel.
  • Thus, with the rise in the quantity of polymers being used during the manufacturing of automobile, and with the increasing demand for lightweight vehicles, the usage of specialty polymers is expected to increase in the automotive and transportation sector.
Specialty Polymers Market - End-user

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Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to display the fastest growth in the specialty polymers market over the forecast period. The expanding automotive and electrical industries in China and India, combined with infrastructural development, is expected to drive the specialty polymers market in the region. Moreover, economic growth and increasing per capita income are some of the major factors that are triggering the growth of the specialty polymers market in Asia-Pacific.
  • In Asia-Pacific, the market is dominated by China. As China is one of the emerging economies witnessing healthy economic growth, its government’s policies have been in line with the proposed objectives to implement economic reforms, thus ensuring healthy growth of the country during the forecast period.
  • Being the largest manufacturing country in the world, the country has become the largest producer of automobiles, the largest producer of paints & coatings, and the second-largest producer of semiconductors. In the year 2018, China produced 27,809,196 units of motor vehicles, and Japan produced 9,728,528 units, followed by India (5,174,645 units produced in the year 2018). Therefore, the automotive segment is growing at a high rate in the Asia-Pacific region, which is likley to propel the demand for specialty polymers market in the forecast period.
  • China is mainly focusing on increasing the production and sales of electric vehicles in the country. For this purpose, the country has planned to increase the production of electric vehicles (EVs) to 2 million a year by 2020, and 7 million a year by 2025. The target, if achieved, is expected to increase the share of electric vehicles to 20% of the total new car production for China, by 2025.
  • Specialty polymers are widely used in the automotive, electronics, and semiconductors industries. Hence, with robust growth in these industries, and government support, the demand for specialty polymers is projected to increase at a healthy pace during the forecast period.
Specialty Polymers Market - region

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Competitive Landscape

The global specialty polymers market is fragmented in nature. The major companies include 3M, Arkema Group, BASF SE, Evonik Industries AG, and Solvay.

Major Players

  1. 3M
  2. Arkema Group
  3. BASF SE
  4. Evonik Industries AG
  5. Solvay

* Complete list of players covered available in the table of contents below

Specialty Polymers Market - concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Applications in the Construction and Electronic Industries

      2. 4.1.2 Commercialization of Lightweight Polymers for Automotive and Aerospace Applications

      3. 4.1.3 Increasing Availability of Feedstock Derived from Natural Gas and Crude Oil Processing

    2. 4.2 Restraints

      1. 4.2.1 Fluctuating Operational Costs to Derive Feedstock

      2. 4.2.2 Technological Obsolescence due to Constantly Changing End-user Needs

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Specialty Elastomers

      2. 5.1.2 Specialty Composites

      3. 5.1.3 Specialty Thermoplastics

      4. 5.1.4 Specialty Thermosets

      5. 5.1.5 Other Types

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive and Transportation

      2. 5.2.2 Consumer Goods

      3. 5.2.3 Building and Construction

      4. 5.2.4 Coatings, Adhesives, and Sealants

      5. 5.2.5 Electrical and Electronics

      6. 5.2.6 Healthcare

      7. 5.2.7 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 A Schulman

      3. 6.4.3 Arkema Group

      4. 6.4.4 Ashland Inc.

      5. 6.4.5 Associated industries Inc.

      6. 6.4.6 BASF SE

      7. 6.4.7 Braskem

      8. 6.4.8 Chemtura Corporation

      9. 6.4.9 Covestro

      10. 6.4.10 Croda International PLC

      11. 6.4.11 Elantas GmbH

      12. 6.4.12 Endurance Technologies Limited

      13. 6.4.13 Evonik Industries AG

      14. 6.4.14 Hexion Inc.

      15. 6.4.15 Huntsman Corp.

      16. 6.4.16 Koninklijke DSM NV

      17. 6.4.17 PolyOne

      18. 6.4.18 S&E Specialty Polymers LLC

      19. 6.4.19 Solvay

      20. 6.4.20 Speciality Polymers Pvt Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Specialty Polymer Technologies in a Myriad of Industrial Applications

    2. 7.2 Prolific Commercialization of Engineered Polymer and Specialty Film Products

**Subject to Availability

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