Mordor Intelligence releases their report on the Global Specialty Polymers Market. The report elucidates the situation of Specialty polymers around the world and studies its markets by end-user industry which include Automotive & Transportation, Consumer Goods, Building & Construction, Adhesives, Sealants, & Coatings, Electrical & Electronics, Medical & Safety and Others; and by Type - Specialty elastomers, Specialty composites, Specialty thermoplastics and Specialty thermosets.
The report is also divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years.
Global Specialty polymers market is showing a high growth worldwide with a compound annual growth rate of 5.9%. Rising demand for high performance polymers as a result of its superior properties including corrosion resistance, resistance to wear, endurance limit, electrical insulation and thermal stability is expected to propel market growth over the forecast period.
Specialty polymers are polymeric additives which are used to induce desired properties in polymers for enhanced performance. These are currently used in less quantity but are charged at a premium price from the consumer. Specialty polymers may be used in a wide range of industries including construction, electronics, pharmaceutical and automotives. Construction and electronics were the largest application segments accounting for majority demand for specialty polymers in 2014 and are expected to be the fastest growing in the following period.
Asia Pacific is expected to show lucrative growth on account of economic development along with increasing disposable income, thereby contributing to the growth of numerous industries including automotive, construction and infrastructure in China and India. Moreover, increasing high government spending on infrastructure and robust industrialization in the region is expected to stimulate market growth. India is expected to witness high growth rates in the market demand for specialty polymers owing to the "Make in India" campaign which is encouraging foreign players to set up manufacturing facilities in India.
Companies profiled in the Specialty polymers market report include Ashland, BASF, Croda, Evonik Industries, PolyOne, Rhodia, Solvay Group, among others.
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Specialty polymers market is expected to witness significant growth owing to increasing applications in electronics and construction industry mainly in Asia Pacific. In addition, growing usage of specialty polymers in wide range of industries including pharmaceutical, automotives and cosmetics is expected to drive demand over the next six years.
Volatility in raw material prices fluctuation in prices of raw materials is expected to restrain market growth over the next six years. Also, replacement due to technological advancement is seen as a market restraint for this market.
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