The Global Specialty Polymers market to grow at a CAGR of 5.87% from 2013 to 2018

08-Oct-14

The Global Specialty Polymers market is witnessing increased demand from emerging markets such as India and China in the APAC region. Economic development in such countries has led to improvements in the purchasing power of individuals, thereby contributing to the growth of several industries. For instance, the electronics industry in India and the construction industry in China are expected to witness strong growth during the forecast period, thereby leading to increased demand for engineering plastics such as polycarbonates, ABS, PET, POM, PBT and specialty films such as polyester, nylon, fluropolymer, and polycarbonate films. As per a report by Research and Markets, many drivers contribute to the growth of the Global Specialty Polymers market, the most important of which is the strong demand for specialty polymers from the Automotive industry in the form of specialty films and engineering thermoplastics. The continual expansion of production capacities by vendors is also driving market growth. Despite the presence of several drivers, there are some challenges that are restricting the growth of the Global Specialty Polymers market. The fluctuation in raw material prices is a major challenge faced by the specialty polymer vendors. Specialty polymer end products getting substituted among themselves is also a major challenge faced by the market.