February 8, 2025

The Specialty Polymers Market is Expected to be Flourished by Rising Demand from Construction Industry

The Specialty Polymers Market is Expected to be Flourished by Rising Demand from Construction Industry

Specialty polymers refer to high-performance polymers that exhibit unique properties and significantly aid specific industrial applications. They possess superior thermal and chemical resistance along with improved tensile strength and stress cracking resistance. Specialty polymers find wide usage in the construction industry for applications such as concrete admixtures, grouts & mortars, protective coatings, sealants & adhesives, and fireproofing. The increasing construction of residential & commercial buildings especially in developing nations is fueling the demand for specialty polymers. They help enhance the durability and lifespan of structures. The global specialty polymers market is estimated to be valued at US$ 82.99 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The rising demand from the construction industry is one of the major drivers propelling the specialty polymers market growth. Specialty polymers aid in providing long-lasting and durable constructions. They are extensively utilized in concrete formulations to improve workability, reduce water demand, enhance strength, minimize permeability and increase durability. Furthermore, rapid urbanization and growing infrastructure development projects across emerging economies are creating frequent need for advanced specialty polymer solutions in the construction sector. Another driver is the ability of specialty polymers to offer enhanced performance benefits over conventional materials. They deliver superior chemical and corrosion resistance along with high strength-to-weight ratio. Owing to such advantageous properties, specialty polymers find widespread usage in applications that require high performance under extreme conditions and environments.
Segment Analysis
The specialty polymers market can be segmented into fluoropolymers, liquid crystal polymers, and others. Fluoropolymers account for over 30% of the market share and are the dominant segment owing to their wide use across multiple industries like automotive, construction and electrical & electronics. Fluoropolymers like PTFE find extensive use as coatings and linings providing properties like chemical and heat resistance.

PEST Analysis

  • Political: No major political risks exist for the specialty polymers market. Most countries support the manufacturing sector through regulations and policies.
  • Economic: The market is driven by growth in end-use industries like automotive, construction and electronics. Recovery in construction spending in major economies and rise in automotive

production post pandemic supports growth.

  • Social: Increasing spending power and demand for high performance and lightweight materials from consumers fuels the market. Specialty polymers find increased acceptance in medical implants

and drug delivery applications.

  • Technological: Continuous R&D focuses on developing bio-based and recycled specialty polymers with improved properties. Advances in 3D printing and additive manufacturing techniques have increased specialty polymers adoption.

    Key Takeaways
    The global specialty polymers market is expected to witness high growth over the forecast period supported by recovery in end-use industries.

The North American region currently dominates led by the US owing to presence of key players and recovery in the automotive and construction industries boosting polymers consumption.

Key players operating in the specialty polymers market include Croda International Plc, Evonik Industries, BASF, Solvay Group, Specialty Polymers Inc., PolyOne Corporation, AmeriLux International LLC, The Dow Chemical Company, Clariant, Arkema Group, 3M, A.Schulman, Inc., Ashland Inc., and Koninklijke DSM N.V. Asia Pacific is expected to be the fastest growing region on account of increasing manufacturing investments and rising polymers consumption driven by the Chinese market. Specialty polymers find expanding usage in medical devices, barrier films and adhesive applications supporting market growth.

Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →