With the rising demand for specialty polymers from various end user industries, manufacturers are focusing on product innovation to meet the demand, states Transparency Market Research (TMR) in a new research report. The report is titled “Specialty Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” The research report focuses on the growth trajectory and prevalent trends of the global specialty polymers market. It further presents an analysis of the factors that are likely to impact the growth of the market both positively and negatively. The shares, strategies, and products of the key players operating in the market have also been evaluated in the report.
Specialty polymers are priced at a premium and are generally produced in small quantities. Key industries that employ specialty polymers are construction, medical, cosmetics, electronics, and automotive. Specialty polymers are classified into conducting polymers, electroluminescent polymers, liquid crystal polymers, polymer composite, biodegradable polymers, and thermoplastic polymers.
Specialty polymers exhibit several properties that differentiate them from traditional polymers and thus have applications across several industries. The unique properties of specialty polymers include flame resistance, heat resistance, and enhanced insulation. Owing to these properties, specialty polymers are employed in the manufacturing of electrical components such as switches and sockets. Bulletproof glass is manufactured using thermoplastic specialty polymers. The medical and agricultural sectors widely use biodegradable polymers. These polymers are also useful in the production of paper coatings, blow molder bottles, and films. Biodegradable specialty polymers are biocompatible and thus are used for drug delivery in the medical sector.
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Conducting specialty polymers are employed in applications that require high heat conductivity. Electroluminescent polymers are deployed in ink jet printing in the color pixels and LED devices. Likewise, liquid crystal polymers are used for controlling pressure, concentration, and temperature in body armor and protective clothing. Although the price of specialty polymers is considerably high, they are preferred by several end-use industries due to their clear advantages.
The primary drivers for the global specialty polymers market are the steady progress of numerous end-use industries and the mounting demand for specialty polymers from Asia Pacific. Manufacturers can expect opportunities from the production of eco-friendly products in the coming years. However, the growth of the market is likely to be affected by the fluctuating costs of raw materials and strict regulations imposed by the governments across the world regarding the use of certain chemicals in specialty polymers.
Region-wise, Asia Pacific has been projected to lead the market owing to the expanding electrical and automotive industries in China and India along with the robust infrastructural growth in the region. The leading manufacturers of specialty polymers are Croda International Plc., Koninklijke DSM N.V., Arkema Group, A. Schulman Inc., 3M, The Dow Chemical Company, PolyOne Corporation, Specialty Polymers Inc., and BASF SE, among others.
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