Global polymer blends and alloys market to register CAGR of 5.3% from 2015 to 2020

26-Nov-15

Polymer blends are replacing the traditional materials and base polymers in end user application industries, the automotive application is expected to play a key role in fueling the growth of the market in the next five years. The polymer blends and alloys market is expected to grow from US$3.3 bln in 2015 to US$4.2 bln by 2020, at a compound annual growth rate (CAGR) of 5.3% from 2015 to 2020, as per Research and Markets. The market has witnessed a strong growth in the past few years considering the high demand for polymer blends from end-use industries in the U.S., Germany, Italy, China, and Japan. Pultruded products are slowly entering the new application markets. The upcoming industrial developments and innovative technologies such as laptops, mobile phones, LEDs, TVs are using polymer blends as their core material, which in turn is driving the polymer blend and alloy market.