Global Specialty Resins Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
23 Jul, 2021
The specialty resins market consists of sales of specialty resins by entities (organizations, sole traders, and partnerships) that manufacture specialty resins. Specialty resins also known as commodity resins and are a type of high-performance resins designed to offer superior thermal and chemical resistance to the materials in which they are used. It also offers high tensile strength and impact resistance and used for applications such as noise control, vibration damping, shock isolation, and cushioning.
Global Specialty Resins Market Size And Drivers:
The global specialty resins market is expected to grow from $6.73 billion in 2020 to $7.07 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth in the specialty resins market is mainly due to the increased demand for industrial packaging products. The market is expected to reach $9.49 billion in 2025 at a CAGR of 7.7%. The growing demand for the construction industry is projected to fuel the growth of the specialty resins market over the coming years.
Request For A Sample For The Global Specialty Resins Market Report:
Trends In The Global Specialty Resins Market
Technological advancement has emerged as a key trend in the specialty resins market. Major players operating in the specialty resins field are focused on developing technologically advanced solutions for specialty resins. 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.
Global Specialty Resins Market Segments:
The global specialty resins market is further segmented based on resin type, function, end use and geography.
By Resin Type: Epoxy, Unsaturated Polyester Resin (UPR), Vinyl, Polyamides
By Function: Protection, Insulation, Others
By End Use Industry: Building And Construction, Automotive, Water Treatment, Marine, Electrical And Electronics, Aerospace, Others
By Geography: The global specialty resins market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the specialty resins market in 2020.
Read More On The Report For The Global Specialty Resins Market At:https://www.thebusinessresearchcompany.com/report/specialty-resins--global-market-report
Specialty Resins Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides specialty resins market overviews, analyzes and forecasts market size and growth for the global specialty resins market, specialty resins market share, specialty resins market players, specialty resins market segments and geographies, specialty resins market’s leading competitors’ revenues, profiles and market shares. The specialty resins market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.