[FURL=https://www.industryarc.com/Report/11665/specialty-polymers-market.html]Specialty Polymers Market[/FURL] size is forecast to reach $253.77 billion by 2025 after growing at a CAGR of 6.7% during 2020-2025. 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. Furthermore, rising demand from the automotive sector are expected to drive the market growth.Key Takeaways
Asia-Pacific dominates the specialty polymers market owing to increasing demand from growing construction industry in the region.
The need for high-performance delivery to produce specialized products has grown will drive the growth of market in the forecast period.
Fluctuating operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the growth of the market in the forecast period.
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Specialty Polymers Market Segment Analysis - Geography
APAC dominates the specialty polymers market with a share of more than 40% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in building & construction sector. The growth of specialty polymers can be taken as directly proportional to the growth of building and construction industry. By 2020, construction output is estimated to grow by 70% to $12.7 trillion and will account for 14.6% of the world output with some of the larger emerging markets such as China, India, Russia, Brazil and Poland driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S.
Specialty Polymers Market Drivers
The Growth of the Aerospace will drive the growth of market in the forecast period
Increasing applications in the construction sector will drive the growth of market
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the specialty polymers market. In 2019, the market of specialty polymers has been consolidated by the top five players accounting for xx% of the share. Major players in the specialty polymers market are Koninklijke DSM N.V., Evonik Industries, Solvay Group, BASF SE, Specialty Polymers, Inc., and Others.
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