The global specialty polymer market is expected to grow at a compound annual growth rate of 4.74% over the forecast period to reach a market size of US$69.202 billion in 2026 from US$50.034 billion in 2019.
Specialty Polymers are substances that are added to the polymers to enhance their physical characteristics while providing corrosion, weathering and abrasion protection, and biocompatibility. These materials are better heat conductors and are more resistant to chemicals than traditional polymers. Specialty polymers are used across industry verticals such as automotive, consumer goods, medical and safety, electrical and electronics, and construction. Therefore, the rise in construction projects across the globe and the strengthening of infrastructure verticals that aim at building reliable and durable structures drive the worldwide market for specialty polymers. Moreover, superior characteristics exhibited by these specialty polymers such as high performance in diverse harsh environments, better heat conductors, weathering and abrasion resistance, electrical insulation and thermal stability, endurance limit, and others also influence the sales capacity of specialty polymers. These polymers are also used in window glass, biomedical products, gears, bearings, and kitchenware utensils. On the contrary, elements like advancements in technology which bring out an improved and enhanced version of the previous technology, and constant instability in prices of raw materials impede global market growth of specialty polymers.
Increasing investments in the construction sector.
The market is expected to surge in the coming years, due to the rise in investments in the construction sector, globally. Countries, such as the United States, China, and India, are expected to play a major role in the overall market growth. For instance, according to the data given by the Associated General Contractors of America, construction has become a major contributor to the US economy. The industry creates around US$1.3 trillion worth of structures, per year. India has also been making significant development in the market. According to the National Investment & Promotional Agency of India, the construction market in the country is expected to emerge as the third biggest market, worldwide, by the year 2025, and is expected to grow at around 7.1%, per year. Moreover, the real estate market in the country is expected to reach US$1 trillion by the year 2030. China is also expected to have a major role in the market growth. According to the International Trade Administration, the country's construction market is expected to grow at an average of 5.2% between the years 2021 and 2029. With the introduction of new materials, the demand for specialty polymers is expected to surge.
Major companies have been investing a significant sum of capital to develop novel and advanced specialty and high-performance polymers, in the past few years.
The rise in the automotive sector.
The market is expected to surge in the coming years, due to the growth in the automotive sector, globally. According to the data given by the International Organisation of Motor Vehicle Manufacturers, 91.7 million vehicles were manufactured in the year 2019. The rising demand for hybrid, electric, and lightweight vehicles, is expected to emerge as a major factor in the overall market growth, in the coming years. The increasing need for emission reductions and fuel efficiency is driving the demand for lightweight vehicles. The engineers and automotive producers have been demanding materials, that enhance the design, the performance of machined and molded parts, and manufacturability. The unique combination of various types of advanced polymers has been enhancing the magnet wire insulation and slot liners in hybrid, electric, and plug-in electric hybrid vehicles. Various companies have been providing specialty, advanced and high-performance polymers to their customers in the past few years. For instance, Solvay, one of the key players in the market, provides specialty polymers to enhance transmission down speeding and powertrain efficiency, electrification, and light-weighting. These trends are expected to enhance the market growth, in the coming years.
|Market size value in 2019||US$50.034 billion|
|Market size value in 2026||US$69.202 billion|
|Growth Rate||CAGR of 4.74% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Polymer, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||BASF, The Dow Chemical Company, 3M, Arkema Group, Ashland, Coim Group, DuPont, Evonik Industries AG, H.B Fuller Company, Solvay|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the specialty polymer market size by 2026?
A1. The global specialty polymer market is expected to reach a total market size of US$69.202 billion in 2026.
Q2. What is the size of the global specialty polymer market?
A2. Specialty Polymers Market was valued at US$50.034 billion in 2019.
Q3. What are the growth prospects for the specialty polymer market?
A3. The specialty polymer market is expected to grow at a CAGR of 4.74% over the forecast period.
Q4. How is the global specialty polymer market segmented?
A4. The global protective relay market has been segmented by type, polymer, end-user, and geography.
Q5. What factors are anticipated to drive the specialty polymer market growth?
A5. The rise in construction projects across the globe and the strengthening of infrastructure verticals that aim at building reliable and durable structures drive the worldwide market for specialty polymers.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Specialty Polymer Market Analysis, By Type
5.2. Specialty Elastomers
5.3. Specialty Thermosets
5.4. Specialty Composites
5.5. Specialty Thermoplastics
6. Global Specialty Polymer Market Analysis, By Polymer
7. Global Specialty Polymer Market Analysis, By End-User
7.2. Building & Construction
7.3. Consumer Electronics
7.6. Adhesives, coatings & sealants
8. Global Specialty Polymer Market Analysis, By Geography
8.2. North America
8.2.1. United States
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.2. The Dow Chemical Company
10.4. Arkema Group
10.6. Coim Group
10.8. Evonik Industries AG
10.9. H.B Fuller Company
Evonik Industries AG
H.B Fuller Company
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