Specialty Polymers Market: By Type (Specialty Elastomers, Specialty Composites, Specialty Thermoplastics, Specialty Thermosets, and  Other Types), By End-user Industry (Automotive and Transportation, Consumer Goods, Building and Construction, Coatings, Adhesives, and Sealants, Electrical and Electronics, Healthcare, and Other End-user Industries), and Geography

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Specialty Polymers Market size was valued at USD 85.6 billion in 2023 and is poised to grow at an 6.7% CAGR over the forecast years. Specialty polymers are proprietary polymers, resins, monomers, and intermediates which include products that are based on proprietary curing technologies or chemistries, or that are designed for specialized applications such as Ionic Polymer Metal Composites (IPMC), Liquid Crystal Polymers (LCPs), Synthetic Polymer Membranes, Smart Hydrogels, and Dendritic Polymers. An increase in house sales and new project launches have led to a rise in the demand for coatings, sealants, and construction chemicals. The increasing demand for healthcare, electrical, and electronics is leading the market recovery over the last two years. The market was negatively impacted by the COVID-19 outbreak in 2020. Owing to the pandemic scenario, several countries went into lockdown, which led to supply chain disruptions, work stoppages, and labor shortages. However, the specialty polymers market has been recovering well since restrictions were lifted. Moreover, the major factors driving the market studied are the increasing applications in the construction and electronic industries, the commercialization of lightweight polymers for automotive and aerospace applications, and the growing availability of feedstock derived from natural gas and crude oil processing.

However, fluctuating operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the market's growth. Further, the emerging specialty polymer technologies in various industrial applications and prolific commercialization of engineered polymer and specialty film products are likely to act as opportunities for the market studied over the forecast period. Owing to their suitable properties, such as excellent thermal resistance, wear resistance, ease of processing and designing, and fatigue endurance, specialty polymers are extensively used in the automotive and transportation industries. These materials are reliable and safe for vehicles due to their exceptional thermal resistance. They provide sophisticated aesthetic appeal to cars at competitive prices. With the rise in demand for lightweight and fuel-efficient cars, polymers use increased in automotive parts to replace heavy metals to reduce weight. It is estimated that every 10% reduction in vehicle weight results in a 5-7% reduction in fuel usage. As specialty polymers play a crucial role in automobile manufacturing, the demand for these materials is increasing with the rising sales of vehicles worldwide.

Specialty Polymers Market Key Developments:
  • In October 2022, Evonik collaborated with two new partners to distribute the group's high-performance polymers. TER Chemicals took over the distribution of VESTOSINT polyamide 12 powders across Europe, the Middle East, and Africa (EMEA). Biesterfeld Performance Rubber GmbH handles the distribution of VESTENAMER rubber additives in the EMEA region (except Italy).
  • In October 2022, Arkema announced a new series of recycled polyamides produced under the Virtucycle program at a recycling center In Italy, partially or fully recycled Rilsan polyamide 11, Rilsamid polyamide 12, and Pebax polymers.

Specialty Polymers Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

6.7%

Largest Market

Asia Pacific

Fastest Growing Market

Asia Pacific
Global Specialty Polymers Market Dynamics

Specialty polymers play a crucial role in automobile manufacturing as well as airplane manufacturing due to the trend of lightweight vehicles as they also reduce fuel consumption. It is estimated that every 10% reduction in vehicle weight results in a 5-7% reduction in fuel usage. Apart from this, they are extensively used for construction purposes. Specialty polymer contributes to improving design flexibility and innovation. These versatile solutions offer a range of beneficial properties to enable miniaturization and reliable performance in electronic devices. Specialty polymers are widely used in the automotive, electronics, and semiconductors industries. Hence, with robust growth in these industries, and government support, the demand for specialty polymers is projected to increase at a healthy pace during the forecast period. However, factors like constantly changing demand by end-users lead to fluctuations in operational costs to derive feedstock and technological obsolescence. Moreover, the specialty polymers market is recovering since restrictions during the COVID-19 pandemic were lifted.

Specialty Polymers Market Segmentation

By Type
  • Specialty Elastomers
  • Specialty Composites
  • Specialty Thermoplastics
  • Specialty Thermosets
  • Other Types
By End User
  • Automotive and Transportation
  • Consumer Goods
  • Building and Construction
  • Coatings, Adhesives, and Sealants
  • Electrical and Electronics
  • Healthcare
  • Other End-user Industries

Frequently Asked Questions

Specialty Polymers Market was valued at USD 85.6 billion in 2023 and is expected to grow at an 6.7% CAGR over the forecast years 2024 – 2030

3M, Arkema Group, BASF SE, Evonik Industries AG, and Solvay are the major players operating in the specialty polymers market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period.

In 2024, the Asia Pacific accounts for the largest market share and is projected to be the primary driver of the specialty polymers market.

Fluctuations in operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the specialty polymers market's growth.

Specialty Polymers Market was valued at USD 85.6 billion in 2023 and is expected to grow at an 6.7% CAGR over the forecast years 2024 – 2030

3M, Arkema Group, BASF SE, Evonik Industries AG, and Solvay are the major players operating in the specialty polymers market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period.

In 2024, the Asia Pacific accounts for the largest market share and is projected to be the primary driver of the specialty polymers market.

Fluctuations in operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the specialty polymers market's growth.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and key strategies.
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market.
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenarios.
1.Executive Summary
2.Global Specialty Polymers Market Introduction 
2.1.Global Specialty Polymers Market  - Taxonomy
2.2.Global Specialty Polymers Market  - Definitions
2.2.1.Type 
2.2.2.End User
2.2.3.Region
3.Global Specialty Polymers Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Specialty Polymers Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Specialty Polymers Market  By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Specialty Elastomers
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Specialty Composites
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Specialty Thermoplastics
5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Specialty Thermosets
5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
5.5. Other Types
5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.5.3. Market Opportunity Analysis 
6.Global Specialty Polymers Market  By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Automotive and Transportation
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Consumer Goods
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Building and Construction
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Coatings, Adhesives, and Sealants
6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Electrical and Electronics
6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Healthcare
6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Other End-user Industries
6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
7.Global Specialty Polymers Market  By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Asia Pacific (APAC)
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Middle East and Africa (MEA)
7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Latin America
7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8.North America Specialty Polymers Market   ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.1.1.Specialty Elastomers
8.1.2.Specialty Composites
8.1.3.Specialty Thermoplastics
8.1.4.Specialty Thermosets
8.1.5.Other Types
8.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.2.1.Automotive and Transportation
8.2.2.Consumer Goods
8.2.3.Building and Construction
8.2.4.Coatings, Adhesives, and Sealants
8.2.5.Electrical and Electronics
8.2.6.Healthcare
8.2.7.Other End-user Industries
8.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.3.1.United States of America (USA)
8.3.2.Canada
9.Europe Specialty Polymers Market   ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Specialty Elastomers
9.1.2.Specialty Composites
9.1.3.Specialty Thermoplastics
9.1.4.Specialty Thermosets
9.1.5.Other Types
9.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.Automotive and Transportation
9.2.2.Consumer Goods
9.2.3.Building and Construction
9.2.4.Coatings, Adhesives, and Sealants
9.2.5.Electrical and Electronics
9.2.6.Healthcare
9.2.7.Other End-user Industries
9.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Germany
9.3.2.France
9.3.3.Italy
9.3.4.United Kingdom (UK)
9.3.5.Spain
10.Asia Pacific (APAC) Specialty Polymers Market   ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Specialty Elastomers
10.1.2.Specialty Composites
10.1.3.Specialty Thermoplastics
10.1.4.Specialty Thermosets
10.1.5.Other Types
10.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Automotive and Transportation
10.2.2.Consumer Goods
10.2.3.Building and Construction
10.2.4.Coatings, Adhesives, and Sealants
10.2.5.Electrical and Electronics
10.2.6.Healthcare
10.2.7.Other End-user Industries
10.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.China
10.3.2.India
10.3.3.Australia and New Zealand (ANZ)
10.3.4.Japan
10.3.5.Rest of APAC
11.Middle East and Africa (MEA) Specialty Polymers Market   ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Specialty Elastomers
11.1.2.Specialty Composites
11.1.3.Specialty Thermoplastics
11.1.4.Specialty Thermosets
11.1.5.Other Types
11.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Automotive and Transportation
11.2.2.Consumer Goods
11.2.3.Building and Construction
11.2.4.Coatings, Adhesives, and Sealants
11.2.5.Electrical and Electronics
11.2.6.Healthcare
11.2.7.Other End-user Industries
11.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.GCC Countries
11.3.2.South Africa
11.3.3.Rest of MEA
12.Latin America Specialty Polymers Market   ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Specialty Elastomers
12.1.2.Specialty Composites
12.1.3.Specialty Thermoplastics
12.1.4.Specialty Thermosets
12.1.5.Other Types
12.2.  End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Automotive and Transportation
12.2.2.Consumer Goods
12.2.3.Building and Construction
12.2.4.Coatings, Adhesives, and Sealants
12.2.5.Electrical and Electronics
12.2.6.Healthcare
12.2.7.Other End-user Industries
12.3.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Brazil
12.3.2.Mexico
12.3.3.Rest of LA
13. Competition Landscape
13.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
13.2.1.3M
13.2.2.Arkema Group
13.2.3.Ashland Inc.
13.2.4.BASF SE
13.2.5.Braskem
13.2.6.Chemtura Corporation
13.2.7.Croda International PLC
13.2.8.Evonik Industries AG
13.2.9.Hexion Inc.
13.2.10.Huntsman Corp.
13.2.11.Koninklijke DSM NV
13.2.12.PolyOne
13.2.13.S&E Specialty Polymers LLC
13.2.14.Speciality Polymers Pvt Ltd
14. Research Methodology 
15. Appendix and Abbreviations 
  • 3M
  • Arkema Group
  • Ashland Inc.
  • BASF SE
  • Braskem
  • Chemtura Corporation
  • Croda International PLC
  • Evonik Industries AG
  • Hexion Inc.
  • Huntsman Corp.
  • Koninklijke DSM NV
  • PolyOne
  • S&E Specialty Polymers LLC
  • Speciality Polymers Pvt Ltd

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