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Key Influencer in the Specialty Resins Market 2025: Surging Demand In The Construction Industry Boosts Growth In The Specialty Resins Market Driver
Key Influencer in the Specialty Resins Market
The specialty resins market is expected to expand due to the projected increase in demand within the construction sector in the forthcoming years. The construction industry spans from mining, quarrying, and forestry operations to product manufacturing, infrastructure, building construction, service, repairs, and disposal processes. Epoxy resin, a type of specialty resin, is integral in the manufacturing process of various construction components and products like coatings, adhesives, flooring, plastics, primers, sealers, paints, amongst others. For instance, the Office for National Statistics, a statistics authority based in the UK, reported that in November 2022, the monthly construction output witnessed a 0.4% increase in August 2022 in volume terms. This was the second consecutive increase, subsequent to an upward revision in July 2022 to 0.1%. Also, the output for August 2022 in level terms is the second-highest monthly value (£5,011 million) since records started in January 2010, with May 2022 holding the record for the highest level (£5,035 million). Therefore, the increased demand in the construction industry propels the growth of the specialty resins market.
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What growth opportunities are expected to drive the specialty resins market's CAGR through 2034?
The market for specialty resins has seen substantial expansion in the past few years. Its value is predicted to escalate from $9.05 billion in 2024 to $9.64 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. Factors contributing to this historical growth include an increase in demand for high-performing substances, the need for sustainable and environmentally-friendly options, various industrial uses, the demand for sophisticated materials, and growth in the construction sector.
Over the coming years, the market size for specialty resins is projected to see a substantial increase. It is predicted to reach a value of $13.02 billion by 2029, with a compound annual growth rate (CAGR) of 7.8%. This growth in the projected period can largely be associated with the rising demand for tailored solutions, sustainable practices, advanced composite materials, smart manufacturing strategies, and electric vehicles. The future trends set to shape the market during this forecasting period consist of bio-based resins, 3D printing, additive manufacturing, cutting-edge coating technologies, smart manufacturing with IoT, and the shrinking size of electronic systems.
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What are the emerging trends shaping the future of the specialty resins market?
The progression of technology is a significant trend in the field of specialty resins. Key vendors in this industry are emphasizing on producing advanced specialty resin systems, driven by technological advancements. To exemplify, ASK Chemicals, a chemical corporation based in Germany, introduced its new reziance brand collection of industrial resins in October 2023. The reziance brand offers high-quality phenolic resins, specialty solutions for casting and a broadening array of industrial uses.
Which growth-oriented segments of the specialty resins market are leading the industry's development?
The specialty resins market covered in this report is segmented -
1) By Resin Type: Epoxy, Unsaturated Polyester Resin (UPR), Vinyl, Polyamides
2) By Function: Protection, Insulation, Other Functions
3) By End Use Industry: Building And Construction, Automotive, Water Treatment, Marine, Electrical And Electronics, Aerospace, Other End Use Industries
Subsegments:
1) By Epoxy: Liquid Epoxy Resins, Solid Epoxy Resins, Modified Epoxy Resins, Epoxy Adhesives
2) By Unsaturated Polyester Resin (UPR): Orthophthalic UPR, Isophthalic UPR, Dicyclopentadiene (DCPD) UPR, Vinyl Ester Resins
3) By Vinyl: Vinyl Ester Resins, Vinyl Chloride Resins, Vinyl Butyral Resins
4) By Polyamides: Aliphatic Polyamides, Aromatic Polyamides, Polyamide Imides (PAI)
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What regions are leading the charge in the specialty resins market?
Asia-Pacific was the largest region in the specialty resins market in 2024. Europe was the second-largest market in the specialty resin market. The regions covered in the specialty resins market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What companies are at the forefront of innovation in the specialty resins market?
Major companies operating in the specialty resins market include Aldex Chemical Company Limited, Radiant Color NV, Huntsman International LLC, Purolite Corporation, Mitsubishi Chemical Corporation, Thermax Limited, International Specialty Chemicals Ltd., BASF SE, Emerald Performance Materials LLC, Arkema S.A., Koninklijke DSM N.V., Pure Resin Co. Ltd., Kolon Industries Inc., Suqing Group, Specialty Resin Chemical Co. Ltd., Scott Bader Company Limited, Aditya Birla Chemicals (Thailand) Limited, DIC Corporation, Allnex Belgium SA/NV, Polynt SpA, INEOS Group Limited, Reichhold LLC, Sika AG, Sinopec Baling Company Limited, Eternal Materials Co. Ltd., Chang Chun Plastics Co. Ltd., Kukdo Chemical Co. Ltd., Hitachi Chemical Company Ltd., Nanya Plastics Corporation, SABIC Innovative Plastics US LLC, Sumitomo Bakelite Co. Ltd., Kyocera Chemical Corporation.
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What Is Covered In The Specialty Resins Global Market Report?
•Market Size Forecast: Examine the specialty resins market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the specialty resins market for a structured understanding.
•Key Players Overview: Analyze major players in the specialty resins market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the specialty resins market.
•Segment Contributions: Evaluate how different segments drive overall growth in the specialty resins market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the specialty resins market.
•Industry Challenges: Identify potential risks and obstacles affecting the specialty resins market.
•Competitive Landscape: Review strategic developments in the specialty resins market, including expansions, agreements, and new product launches.
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