SPECIALTY POLYMERS MARKET ANALYSIS

Specialty Polymers MarketSize and Trends

Specialty Polymers Market Outlook – Asia-Pacific is the fastest-growing region in the specialty polymers market

Asia Pacific is projected to be the fastest-growing market for specialty polymers, over the forecast period, due to the growing such as India, China, Japan, and South Korea. The growing population in countries such as India, China, Japan and South Korea, has led to increasing urbanization, thus resulting in the rampant growth of automotive, construction, and electronic end-use industries in the region. Specialty polymers hold a significant position in these industries, thus the growth of these industries, leads to an increasing demand for specialty polymers, in turn fueling market growth in the region. Increasing disposable income among the populace and growing infrastructural development are major drivers escalating growth of the specialty polymers market in the region. Rampant economic growth experienced by countries in Asia Pacific, has compelled the manufacturing units of key players such as BASF and The Dow Chemical Company to expand to the region, in order to capitalize lucrative growth opportunities. Thus creating a highly conducive environment for growth of the specialty polymers market in the region. Fluctuating prices of crude oil, which is the basis feedstock for specialty polymers, poses as a restraining growth factor. Also, low focus of players on R&D activities, which subsequently results in limited technological advancements in manufacturing specialty polymers are other major restraints for market growth.  Some of the major companies operating in the global specialty polymers market are Croda International Plc, Evonik Industries, BASF, Solvay Group, Specialty Polymers Inc., PolyOne Corporation, AmeriLux International LLC, The Dow Chemical Company, Clariant, Arkema Group, 3M, A.Schulman, Inc., Ashland Inc., and Koninklijke DSM N.V.