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Specialty Resins Market Analysis, Trends, Growth, Research And Forecast 2032
Specialty Resins Market
The Business Research Company's Specialty Resins Global Market Report 2023 identifies growth in demand for the construction industry
as the major driver for the specialty resins market's growth in the forecast period. Construction is a wide industry that involves anything from mining, quarrying, and forestry to infrastructure and building construction, product manufacturing and supply, and repair, service, and disposal. Epoxy resin, a form of specialty resin, is used in the manufacturing of coatings, adhesives, flooring, plastics, primers and sealers, paints, and other building and construction products and components.
The global specialty resins market size grew from $7.97 billion in 2022 to $8.56 billion in 2023, at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The specialty resins market size is expected to grow to $10.62 billion in 2027 at a CAGR of 5.6%.
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Major competitors in the specialty resins market are Aldex Chemical Company Limited, Radiant Color NV, Huntsman International LLC, Purolite, Mitsubishi Chemical Corporation, Thermax Limited, International Speciality Chemicals Ltd.
A key trend in the specialty resins market includes technological advancement. Major players in the specialty resins industry are focused on developing technologically advanced specialty resin solutions.For instance, in September 2020, Allnex, a Germany-based producer of industrial coating resins, introduced PHENODUR PR 616/65B, a modern, environmentally friendly phenolic resin with a very low free formaldehyde value of less than 0.1%. In BPA-NI applications, PHENODUR PR 616/65B can be combined with high molecular weight polyester or high molecular weight epoxy resins for stable and versatile packaging and drum lining.
Read More On The Global Specialty Resins Market Report Here:
https://www.thebusinessresearchcompany.com/report/specialty-resins-global-market-report
The specialty resins market is segmented -
• By Resin Type: Epoxy, Unsaturated Polyester Resin (UPR), Vinyl, Polyamides
• By Function: Protection, Insulation, and Other Functions
• By End Use Industry: Building and Construction, Automotive, Water Treatment, Marine, Electrical and Electronics, Aerospace, and Other End Use Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the specialty resins market.
The Business Research Company's "Global Specialty Resins Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Specialty Resins Market Include:
1. Executive Summary
2. Specialty Resins Market Characteristics
3. Specialty Resins Market Trends And Strategies
4. Specialty Resins Market - Macro Economic Scenario
5. Specialty Resins Market Size And Growth
……
26. Africa Specialty Resins Market
27. Specialty Resins Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Specialty Resins Market
29. Specialty Resins Market Future Outlook and Potential Analysis
30. Appendix
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