Global Specialty Polymers Market: Overview
Specialty polymers are utilized crosswise over different businesses, for example, hardware, restorative, car, beauty care products, and development. Among these, development and hardware remained as the biggest end clients of specialty polymers in the ongoing past and are relied upon to hold their situation in the coming a very long time also.
Specialty polymers are additives that are used to enhance the desired properties of polymers. They display specialized properties that make them preferable over conventional polymers. Specialty polymers are categorized under specialty chemicals and are suitable for a wide range of applications.
Broadly, specialty polymers can be categorized into thermoplastic polymers, polymer composites, electroluminescent polymers, biodegradable polymers, liquid crystal polymers, and conducting polymers. Each of these specialty polymers displays distinct properties that make them suitable for specific applications. For instance, thermoplastic insulators offer high heat resistance and flame resistance properties and are good insulators. Thus, thermoplastic polymers are used for manufacturing various electrical parts such as sockets and switches. They are also suitable for the manufacture of bullet-proof glass.
The report evaluates the growth prospects and factors that are positively influencing the growth of the specialty polymers market. It also presents insights into challenges that the market could face during the forecast period. Details of regulatory stipulations that industry players need to adhere to and consequences in the instance of non-adherence are presented at length.
The report presents the vendor landscape of the global specialty polymers market at length. This includes a detailed discussion on the prominent players along with their competitive profiles. An overview of the various micro and macro factors governing the specialty polymers market has been included, with inputs from opinion leaders.
Global Specialty Polymers Market: Trends and Opportunities
The specialty polymers market is expected to display a healthy CAGR over the forecast period. Specialty polymers are used across several industries such as automotive, cosmetics, electronics, medical, and construction. The increasing demand for specialized polymers that display high endurance, corrosion resistance, resistance to wear, electrical insulation, and thermal stability are expected to further fuel the market’s growth.
However, fluctuations in prices of raw materials that are used in the manufacture of specialty polymers is one of the major factors restraining the market’s growth. Constantly changing needs of end-use industries and technological advancements in the application sectors In spite of volatile prices of raw materials, specialty polymers offer unparalleled benefits for various end-use, which is expected to offset the effect of restraint. Thus, the specialty polymers market is expected to display significant growth in the coming years due to their increasing number of applications.
Global Specialty Polymers Market: Regional Outlook
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 factors that are triggering the growth of the specialty polymers market in Asia Pacific.
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Global Specialty Polymers Market: Competitive Landscape
Some of the large companies operating in the global specialty polymers market are Evonik Industries, Clariant, BASF SE, PolyOne Corporation, The Dow Chemical Company, Alpek S.A.B. de C.V., ArkemaGroup, Croda International Plc, Ashland Inc., Solvay Group, Specialty Polymers Inc., AmeriLux International LLC, 3M, A.Schulman Inc., and Koinklijke DSM N.V.