Summary
Global Specialty Polymers Market-Segmented by Material Type , Product Type , Application , and Geography-Trends and Forecasts ( 2017-2022 ). The market has also been segmented on the basis of polymers into polyamides , polycarbonate , polyketones , polyurethanes , polyphtalamides , polyamideimide , polytherimide , polyimides , polysulfones , polyetherimide , polyesters .
Description
The global specialty polymers market was valued at USD XX billion in 2015 , and is likely to reach USD 72.57 billion by 2020 , growing at a CAGR of 5.94 % during the forecast period ( 2017 - 2022 ).
Specialty polymers are polymeric that are added to the polymers to enhance their physical properties and performance . They aid in improving the fatigue and wear resistance ; chemical and heat resistance ; corrosion , weathering and abrasion protection ; biocompatibility , fire resistance , and fluctuating temperature resistance . As a result , their usage in both industrial and commercial applications is consistently increasing .
The specialty polymers are used in various applications such as automotive and transportation , consumer goods , building and construction , adhesives , sealants , and coatings , electrical and electronics , medical and safety , and others . Construction and electronics are the largest application segments accounting for the major demand for specialty polymers in 2014 ; additionally , they are expected to be the fastest growing products in the forecast period . They are also used in aircraft interior cabin applications , including seating , passenger service units , stow bins and air grilles .
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In electrical applications , they are used to manufacture switches and sockets . Some other applications of specialty polymers include water treatment , paper processing , mineral sequestering , textile processing , personal care products , pharmaceuticals , drug delivery , petroleum production , enhanced oil recovery , coatings & inks additives and sensors .
The market is driven by number of factors such as increasing disposable income in the emerging economies , especially in Asia-Pacific , and growing application in electronics and construction industry . However , this market faces certain drawbacks , such as volatility in raw material prices , and limited technological advancements . The aforementioned factors may act as a roadblock for the growth of the market .
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The global specialty polymers market , on the basis of type can be broadly segmented into specialty elastomers , specialty composites , specialty thermoplastics , and specialty thermosets . The market has also been segmented on the basis of polymers into polyamides , polycarbonate , polyketones ,
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