November 08, 2019
According to the latest study titled ‘Global Specialty Polymer Market: Analysis By Type (Thermoplastics, Biodegradable, Conducting, Electroluminescent, Liquid Crystal Polymer), By Application (Automotive, Electrical and Electronics, Medical, Building and Construction, Oil and Gas), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)’ available at MarketStudyReport.com, the global specialty polymer market is estimated to grow with a CAGR of 11.29% through the year 2024.
Specialty polymers have enhanced properties and are added to products in order to improve their shelf life. An increase in the usage of electronic products, along with growing use of these polymers in medicinal products and its diverse applications across various industries are augmenting the growth of specialty polymer market.
The study encompasses details about segmental shares, and expansion strategies adopted by manufacturers. It also provides insight about the challenges, drivers, trends, and restraints impacting the market growth.
Based on type, the specialty polymer market is segmented into biodegradable, thermoplastics, conducting, electroluminescent, and liquid crystal polymers. As per the report, thermoplastics segment is projected to witness a decent growth over the forecast period, due to global increase in demand for electronic devices like smart TV, laptops, and mobile phones.
In terms of application spectrum, the industry is divided into automotive, medical, building & construction, electrical & electronics, oil & gas, and others.
Considering the geographical landscape, the specialty polymer market is fragmented into four major regions such as Europe, North America, APAC, and the rest of the world, with a key focus on countries like Canada, U.S., Germany, U.K, China, Japan, and India.
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Moreover, APAC specialty polymer market is presumed to register lucrative growth opportunities in the forthcoming years, pertaining to expanding population and rising construction activities across various nations in the region, as per the report.
Leading players in the specialty polymer market are Croda, BASF SE, PolyOne, Evonik Industries, 3M, DowDuPont, Specialty Polymers Inc., and Solvay.
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