India, China driving global specialty polymers market

The global specialty polymers market is witnessing increased demand from emerging markets such as India and China in the APAC region, according to a report of Research and Markets, a market research agency. The analysts forecast the global specialty polymers market to grow at a CAGR of 5.87 percent over the period 2013-2018.
 
Economic development in Asian 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, acrylonitrile butadiene styrene (ABS), polyethylene terephthalate (PET), polyoxymethylene (POM), polybutylene terephthalate (PBT) and specialty films such as polyester, nylon, fluropolymer, and polycarbonate films.
 
Specialty polymers are used to give a desired feature in specific applications. Most of the specialty polymers are used in small quantities and are priced at a premium. In contrast to commodity polymer, specialty polymers are more flexible because of the high costs associated and changing nature of raw materials, operating conditions, and end-user needs.
 
Some of the leading players in the global specialty polymers are Ashland, BASF, Croda, Evonik Industries, PolyOne, Rhodia and Solvay Group.