Specialty Polymers Market Size
| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 7.00% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Specialty Polymers Market Analysis
The Specialty Polymers Market is expected to register a CAGR of greater than 7% during the forecast period.
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 labour shortages. However, the sector is recovering well since restrictions were lifted. 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 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.
- Fluctuating operational costs to derive feedstock and technological obsolescence due to constantly changing end-user needs are expected to hinder the market's growth.
- 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.
- Asia-Pacific emerged as the largest market and is expected to witness the highest CAGR during the forecast period. This dominance of Asia-Pacific is attributed to the high demand in countries such as China, Japan, and India.
Specialty Polymers Market Trends
Automotive and Transportation Industry to Dominate the Market
- Owing to their suitable properties, such as excellent thermal resistance, wear resistance, ease of processing and designing, and fatigue endurance, speciality 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 speciality polymers play a crucial role in automobile manufacturing, the demand for these materials is increasing with the rising sales of vehicles worldwide.
- The automotive polymer composite industry indirectly fosters economic activity throughout a vehicle's supply chain and through the payrolls paid by the industry and consumers. The light vehicle industry is an essential customer for various specialty polymers, and significant competition exists, especially with aluminum and steel.
- According to OICA, the total number of vehicles produced in 2021 was 80,145,988 and witnessed a growth rate of 3% compared to 2020. Europe made a total of 16,330,509 units of motor vehicles, America had 16,151,639 units, and Africa held a production number of 931,056 units in 2021.
- As per reports by the Japan Automobile Manufacturers Association (JAMA), the country produced 7,846,955 units of passenger cars and light vehicles in 2021.
- Thus, with the rise in the number of polymers used during automobile manufacturing and the increasing demand for lightweight vehicles, specialty polymers usage is expected to increase in the automotive and transportation sector.
Asia-Pacific to Dominate the Market
- 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, are expected to drive the specialty polymers market in the region. Moreover, economic growth and increasing per capita income are some of the significant factors triggering the growth of the specialty polymers market in Asia-Pacific.
- China is one of the emerging economies witnessing healthy economic growth. Its government's policies have been in line with the proposed objectives to implement economic reforms, thus ensuring the healthy development of the country during the forecast period.
- China is mainly focusing on increasing the production and sales of electric vehicles in the country. For this purpose, the government planned to increase electric vehicle (EVs) production to 2 million a year by 2020 and 7 million a year by 2025. The target, if achieved, is expected to increase the share of electric vehicles to 20% of the total new car production in China by 2025.
- According to the OICA, in 2021, total industrial production in India was about 4,399,112 vehicles, including passenger, commercial, three-wheeler, two-wheeler, and quadricycles. The government's reforms, such as "Aatma Nirbhar Bharat" and "Make in India" programs, will likely boost the automotive industry in the near future.
- 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.
- According to Japan Electronics and Information Technology Industries Association (JEITA), with the advance of digitalization boosting demand and expanding exports, global production by Japanese electronics and IT companies grew by 8% year on year in 2021 to JPY 37,300 billion (~USD 285.39 billion). This growth in the electronics segment will enhance the demand for the ethylbenzene market in the coming years.
- 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.
Specialty Polymers Industry Overview
The speciality polymers market is fragmented in nature. Some of the major players in the market (in no particular order) include 3M, Arkema Group, BASF SE, Evonik Industries AG, and Solvay, among others.
Specialty Polymers Market Leaders
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3M
-
Arkema Group
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BASF SE
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Evonik Industries AG
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Solvay
- *Disclaimer: Major Players sorted in no particular order
Specialty Polymers Market News
- 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).
- 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 Industry Segmentation
Specialty Polymers are the class of some High-Performance Polymers (HPP), including plastics, polymers, fluids, membranes, smart hydrogels, and elastomers. They meet the critical requirements that engineers face daily in crucial industries such as Plastics, Automobiles, Aeronautics, Smart Devices, etc. Specialty polymers are characterized by their ability to retain desirable mechanical, thermal, and chemical properties when subjected to harsh environments, such as high temperature, high pressure, and corrosive chemicals. The specialty polymers market is segmented by type, end-user industry, and geography. By type, the market is segmented into specialty elastomers, specialty composites, specialty thermoplastics, specialty thermosets, and other types. The market is segmented by end-user industry into automotive and transportation, consumer goods, building and construction, coatings, adhesives, sealants, electrical and electronics, healthcare, and other end-user industries. The report also covers the market size and forecasts for the specialty polymer market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Type | Specialty Elastomers | ||
| Specialty Composites | |||
| Specialty Thermoplastics | |||
| Specialty Thermosets | |||
| Other Types | |||
| End-user Industry | Automotive and Transportation | ||
| Consumer Goods | |||
| Building and Construction | |||
| Coatings, Adhesives, and Sealants | |||
| Electrical and Electronics | |||
| Healthcare | |||
| Other End-user Industries | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| Italy | |||
| France | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Rest of Middle-East and Africa | |||
Specialty Polymers Market Research FAQs
What is the current Specialty Polymers Market size?
The Specialty Polymers Market is projected to register a CAGR of greater than 7% during the forecast period (2025-2030)
Who are the key players in Specialty Polymers Market?
3M, Arkema Group, BASF SE, Evonik Industries AG and Solvay are the major companies operating in the Specialty Polymers Market.
Which is the fastest growing region in Specialty Polymers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Specialty Polymers Market?
In 2025, the Asia Pacific accounts for the largest market share in Specialty Polymers Market.
What years does this Specialty Polymers Market cover?
The report covers the Specialty Polymers Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Specialty Polymers Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Specialty Polymers Industry Report
Statistics for the 2025 Specialty Polymers market share, size and revenue growth rate, created by Mordor Intelligenceâ„¢ Industry Reports. Specialty Polymers analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
