Specialty Resins Market Key Drivers, Trends and Opportunities by 2030
The global specialty resins market was valued at ~US$ 6 Bn in 2019 and is anticipated to expand at a CAGR of 5% during the forecast period. The global specialty resins market is driven by increase in the demand for specialty resins in the global building & construction industry. Asia Pacific accounts for a major share of the global specialty resins market led by high demand for specialty resins among automotive manufacturers.
Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=46233
Key Drivers of Specialty Resins Market
The automotive industry is changing in accordance with changes in consumer preference in terms of aesthetics, safety, and comfort. The automotive industry relies heavily on coating technologies to protect critical auto components and impart them a stylish appearance. These coatings need to provide high performance expected by consumers, while also meeting increasingly stringent regulatory requirements for low VOC emissions. Specialty resins protect metal and plastic components of cars, such as chassis and suspension systems, from corrosion. Specialty resins are utilized in car refinishes and OEM coatings as well as matte finishes in automobiles.
Specialty resins are used in applications ranging from high-performance structural adhesives to stronger, quicker composite resin systems in automobiles. Specialty epoxy resins are used for structural adhesives for assembly and structural composite applications. The global automotive sector is expected to expand considerably during the forecast period, due to significant increase in the demand for small vehicles and two-wheelers worldwide. Thus, rise in the production of automobiles is expected to boost the demand for specialty resins during the forecast period.
Rising Demand from Developing Countries to Offer Lucrative Opportunities to Specialty Resins Market
Specialty resins are employed in various applications such as automotive, marine, aerospace, building & construction, electronics, and water treatment. Demand for these resins is increasing in developing countries such as China, India, and Brazil, owing to availability of various new technologies with superior performance in the specialty resins marketplace. Countries such as Brazil, India, and China are making focused efforts to elevate their people in the lower class to the middle class. Rise in the middle-class population drives industries such as building & construction, electrical & electronics (E&E), and automotive. China is a prominent consumer of specialty resins. Developing countries are expected to be major markets for specialty resins during the forecast period. Developing countries are expected to offer significant opportunities to the global specialty resins market during the forecast period.
More Trending Reports by Transparency Market Research – https://www.prnewswire.com/news-releases/global-chloromethane-market-to-garner-cagr-of-4-to-reach-us-3-billion-valuation-during-2019—2027-transparency-market-research-301003570.html
High Production Cost of Specialty Resins to Hamper Specialty Resins Market
Raw materials used in the manufacture of specialty resins are bisphenol A (BPA) and bisphenol F (BPF), styrene, maleic anhydride, and phthalic anhydride. These are major raw materials used in the manufacture of epoxy specialty resins and unsaturated polyester specialty resins. These raw materials primarily belong to the chemical commodities sector and prices of these materials have increased considerably over the last few years. Specialty resins with high functionality are required to improve product performance in challenging applications. This further increases their price.
Rising demand for the production of specialty resins with additional features, such as strength and resistance, has significantly fueled the overall production cost of specialty resins. Increase in prices has become a restraining factor for the global specialty resins market over the last few years.
Asia Pacific Dominates Specialty Resins Market
Based on region, Asia Pacific accounted for a major share of the global specialty resins market in 2019. Demand for building and construction activities is high in the region, especially in China, Japan, and South Korea. Growth of building & construction and automotive sectors in the region is anticipated to fuel the specialty resins market in Asia Pacific during the forecast period. Europe is anticipated to offer immense opportunities to the specialty resins market during the forecast period, due to the growing usage of epoxy specialty resins in various end-use industries in the region such as automotive, building & construction, marine, water treatment, and aerospace.
The specialty resins market in Latin America and Middle East & Africa is projected to expand at a sluggish pace during the forecast period. Middle East & Africa and Latin America cumulatively constituted 20.8% share of the global specialty resins market in 2019. These regions are likely to lose a collective market share of 2.4% by 2030.
Request for Discount on This Report at - https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=46233
Consolidated Nature of Specialty Resins Market
A few major players dominate the global specialty resins market. This leads to intense competition. Key producers of specialty resins demonstrate a level of forward integration. The number of small-scale as well as large-scale manufacturers in the global specialty resins market is large. Thus, the market is fragmented.
BASF is a leading player in the global specialty resins market. The company manufactures acrylic specialty resins. It accounted for a market share of 15.6% in 2019. Huntsman is another major player in the global market. The company produces epoxy phenol novolac (EPN) and epoxy cresol novolac (ECN) specialty resins. It held 10.2% of the market share in 2019.
Other companies include Emerald Performance Materials, Royal DSM, and several small-scale companies, which accounted for nearly 66.7% of the market share in 2019.
Request for covid19 Impact Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=46233
Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Transparency Market Research is a global market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Specialty Resins Market Key Drivers, Trends and Opportunities by 2030 here
News-ID: 2395538 • Views: 117
More Releases from Transparency Market Research
Social CRM Market to Rear Excessive Growth During 2020-2030
Social CRM Market: Introduction The social CRM market focuses on capturing the needs of consumers and generates value for them. Social customer relationship management (CRM) provides critical analysis about the market. It enables businesses to build customer relationships and improve their brand presence. The solution helps companies to monitor and analyze their reputation in the market with various keywords such as brand name and company name. Obtain Report Details @
Video Ad Insertion Platform Market: Size Industry Status Growth Opportunity For …
Video ad Insertion Platform Market – Introduction Video ad insertion platform IT enables marketers to serve different advertisements to each viewer based on consumer insights and ad campaign results. Increasing demand for OTT platforms, technological advances, and an increase in the number of internet users are all boosting the video ad insertion platform industry. Furthermore, the 6-second ad is gaining attention on various social media sites. According to new research from
Smart Luggage Market: Analysis, Strategic Assessment, Trend Outlook And Business …
Smart Luggage Market: Introduction Smart luggage are bags with remote lock systems, GPS locator, USB ports for charging the device, remote or app enabled controls, Wi-Fi or Bluetooth connectivity, and solar powered batteries. Smart luggage have anti-theft protection, which provides the user with an alarm or notification when the luggage gets disconnected or is moved out of range. Smart luggage are not only technological advanced but also have a stylish look,
Storage Resource Management Tool Market: Future Growth And Forecast With Signifi …
Global Storage Resource Management Tool Market: Introduction A storage resource management tool enables real-time and historical information for storage infrastructure with regards to capacity and performance, problem determination, device management, and configuration planning and change management. It helps the storage administrator to automate data backup, data recovery, and SAN performance analysis. The tool helps in visualizing relationships and topologies from application to storage array, analyzing health, configurations and capacity growth, and
More Releases for Specialty
Global Specialty Resins Market
Global Specialty Resins Market – Industry Analysis and Forecast (2018-2026) – by Resin Type, End User, and Region. Global Specialty Resins Market was valued at US$ 7.45 Bn in 2017 and is expected to reach US$ 11.34 Bn by 2026, at a CAGR of 5.4 % during the forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated
Specialty Tape Market 2017 - 2026
Press Release - 16 July 2018 Research and Development News -- . . Latest Update "Specialty Tape Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026" with Industries Survey | Global Current Growth and Future. ' ' Global Specialty Tape Market: Overview Specialty tapes include a wide variety of tapes for specific use in industries. Hence, these tapes have enhanced capabilities compared to adhesive tapes. With increasing use in various
Specialty CRO's Market - Regional Insights
On the basis of geography, global specialty CROs market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to dominate the market over the forecast period, owing to the fact that pharmaceutical and biotech companies in this region spends significant amount on research and development, in order to bring novel therapies to the market. Click To Continue Reading; https://www.coherentmarketinsights.com/ongoing-insight/specialty-cros-market-1627 As per the estimation
Specialty Surfactants Market
Latest Developments Growing personal care industry in emerging economies and increasing purchasing power of middle class are fuelling the growth of the specialty surfactants market. While stringent environmental regulations regarding the manufacturing of specialty surfactants are hindering the growth of this market. Market Insights Anionic surfactants is poised to account for the largest market share in 2016 and owing to the increased use of green surfactants amphoteric surfactants have registered the highest CAGR.
Specialty Fats Market 2017-2021
The latest industry research report on Specialty Fats by MRC provides a thorough analysis of the global Specialty Fats market. The report scrutinizes the market by different segments including regions, applications, competitive landscape, etc. over the predicted time frame. This report provides 360 Degree perspective of the Specialty Fats industry with an all-inclusive discussion of definitions, classifications, and market players in the industry chain structure. It features qualitative and quantitative
Specialty Endoscopic Surgery Devices Market
ReportsWorldwide has announced the addition of a new report title Specialty Endoscopic Surgery Devices Market to its growing collection of premium market research reports. The global market for specialty endoscopic surgery products totaled approximately $5.8bn in 2016, with the US comprising 48.2% of sales (or $2.8bn). Over the forecast period covered by this report, the global market for specialty endoscopic surgery products is forecast to grow at a 4.6% CAGR, reaching $7.8bn