Global Specialty Polymers Market: Overview
Specialty polymers are used across various industries such as electronics, medical, automotive, cosmetics, and construction. Among these, construction and electronics stood as the largest end users of specialty polymers in the recent past and are expected to retain their position in the coming years as well.
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.
Broadly, specialty polymers can be categorized into thermoplastic polymers, polymer composites, electroluminescent polymers, biodegradable polymers, liquid crystal polymers, and conducting polymers. Each of these specialty polymers displays distinct properties that make them suitable for specific applications. For instance, thermoplastic insulators offer high heat resistance and flame resistance properties and are good insulators. Thus, thermoplastic polymers are used for manufacturing various electrical parts such as sockets and switches. They are also suitable for the manufacture of bullet-proof glass.
The report evaluates the growth prospects and factors that are positively influencing the growth of the specialty polymers market. It also presents insights into challenges that the market could face during the forecast period. Details of regulatory stipulations that industry players need to adhere to and consequences in the instance of non-adherence are presented at length.
The report presents the vendor landscape of the global specialty polymers market at length. This includes a detailed discussion on the prominent players along with their competitive profiles. An overview of the various micro and macro factors governing the specialty polymers market has been included, with inputs from opinion leaders.
Global Specialty Polymers Market: Trends and Opportunities
The specialty polymers market is expected to display a healthy CAGR over the forecast period. Specialty polymers are used across several industries such as automotive, cosmetics, electronics, medical, and construction. The increasing demand for specialized polymers that display high endurance, corrosion resistance, resistance to wear, electrical insulation, and thermal stability are expected to further fuel the market’s growth.
However, fluctuations in prices of raw materials that are used in the manufacture of specialty polymers is one of the major factors restraining the market’s growth. Constantly changing needs of end-use industries and technological advancements in the application sectors In spite of volatile prices of raw materials, specialty polymers offer unparalleled benefits for various end-use, which is expected to offset the effect of restraint. Thus, the specialty polymers market is expected to display significant growth in the coming years due to their increasing number of applications.
Global Specialty Polymers Market: Regional Outlook
Asia Pacific is expected to display the fastest growth in the specialty polymers market over the forecast period. The expanding automotive and electrical industries in China and India combined with infrastructural development is expected to drive the specialty polymers market in the region. Moreover, economic growth and increasing per capita income are some of the factors that are triggering the growth of the specialty polymers market in Asia Pacific.
Global Specialty Polymers Market: Competitive Landscape
Some of the large companies operating in the global specialty polymers market are Evonik Industries, Clariant, BASF SE, PolyOne Corporation, The Dow Chemical Company, Alpek S.A.B. de C.V., ArkemaGroup, Croda International Plc, Ashland Inc., Solvay Group, Specialty Polymers Inc., AmeriLux International LLC, 3M, A.Schulman Inc., and Koinklijke DSM N.V.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.