The polymers designed for special operation or application which involves various types of resins, polymers and monomers are known as specialty polymers. They comprise products that are utilized for dedicated applications, curing processes, and chemistries. The designing characteristics of the products made up of specialty polymers entirely depend on the type of application, which includes thermal, electrical, optical, physical, and mechanical properties. Specialty polymers are manufactured in small numbers with the specific application and are available at high cost. The high-performance capabilities such as solvent resistance, chemical resistance, and operational at highly escalated temperature make them stand out as specialized polymers.
The global specialty polymers market is segmented based on types as electroluminescent polymers, biodegradable polymers, conductive polymers, composite polymers, thermoplastic polymers, and liquid crystal polymers. Based on end-user, the global market is segmented as medical, electronics, aerospace, marine, automobile, and others. Geographically, the global specialty polymer market is segmented as North America, Europe, the Middle East, Asia Pacific, Latin America, and Rest of World.
Rising constructional and infrastructure projects with the high standard of design, in focus to building reliable and durable structures in order to avoid early maintenance and repairs are anticipated to fuel the demand for the specialty polymer in the industry. Awareness among various industries about these polymers that delivers high performance in diverse harsh environments without affecting the specific operations is one of the major factors boosting the growth of the specialty polymer market. Specialty polymers are widely used in various end-user applications such as for head light covers, window glass, aerospace parts and aircraft equipment, biomedical products, kitchenware utensils, gears, and bearings. These are the major factors escalating growth of the market globally. However, unstable raw material prices and constantly changing technologies may pose a challenge for the market players to modify the product which restrains market growth.
Asia Pacific accounted for the largest market for specialty polymers owing to growing construction and automotive sectors and is also anticipated to retain its position in the future. In addition, India and China are contributing to the major and rapid growth of the market in this region.
Some of the major companies operating in the global specialty polymers market include Koninklijke DSM N.V., Evonik Industries, Solvay Group, BASF SE, Specialty Polymers, Inc., AmeriLux International, LLC, PolyOne Corporation, and The Dow Chemical Company. Other key companies influencing the global market are Clariant, 3M, Alpek S.A.B. de C.V., A.Schulman, Inc., Arkema Group, Ashland Inc., and Croda International Plc.
Specialty Polymers Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa