Specialty resins refers to a class of advanced engineered polymers that exhibit unique properties for specialized performance. These include thermosetting resins such as epoxy, unsaturated polyester, and vinyl ester resins. Specialty resins find wide application in end-use industries such as construction, automotive, aerospace, and marine and wind energy, owing to benefits such as high temperature and chemical resistance, strength, flexibility and durability. Rapid industrialization along with growing infrastructural investments in emerging nations has boosted demand for high-performance specialty resins in the past few years.
Market Dynamics:
Global specialty resins market growth is driven by robust growth of end-use industries such as construction and automotive. Infrastructure development activities in developing countries along with rising automobile production is boosting the consumption of specialty resins. Furthermore, stringent environmental regulations regarding volatile organic compound (VOC) emissions from paints and coatings is boosting demand for eco-friendly specialty resins. However, fluctuation in raw material prices remains a key challenge for market players. Ongoing research & development activities to develop bio-based and recyclable specialty resins offer lucrative opportunities for sustained market growth over the forecast period.
Key Features of the Study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook