Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Specialty Resins Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The latest comprehensive analysis in the specialty resins industry, pinpoints an upsurge in the market size from $8.53 billion in 2023 to an expected $9.11 billion in 2024.
The report elucidates various drivers steering the specialty resins sector's robust advancement, including increasing demand for high-performance materials, the proliferation of green and sustainable initiatives, and heightened innovations in smart manufacturing. It shines a light on the diverse applications of specialty resins, such as in the automotive, construction, and electronics industries, and presents a deep dive into the regional market landscapes, competitive outlook, and future market projections up to 2028.
Epoxy resins, characterized by their thermal stability and adhesive prowess, are noted for their prevalence in the market. In contrast, the evolving needs across the aerospace and marine sectors are creating a strong pull for unsaturated polyester resin (UPR) and vinyl specialty resins. Further highlighting the gravity of this market segment, polyamides stand out due to their excellent tensile strength and heat resistance, emblematic of the industry's stride toward innovative material solutions.
Construction and Packaging Industries: Catalysts for Growth
The burgeoning construction industry is heralded as a significant catalyst for the burgeoning growth in specialty resins use, contributing substantially to the market's upward trajectory. The report points out that with a rise in construction activities globally, demand for specialty resins in applications such as coatings and adhesives is anticipated to strengthen.
Supplementing this trend, the packaging industry proves to be another pivotal end-user, with specialty resins being integral to fulfilling the requirement for high durability and barrier properties in packaging solutions. The sector's growth is underpinned by an increasing emphasis on sustainability and material innovation.
Technological Innovation Takes Center Stage
Offering an exploration into technological innovations, the report showcases a tapestry of advancements, such as the development of bio-based resins and the adoption of 3D printing. These technologies are redefining the specialty resins landscape by introducing environmentally conscious materials and opening avenues for complex manufacturing capabilities.
- Technological advancements and the integration of smart manufacturing are primed to forge new pathways in the specialty resins marketspace.
- The rise of electric vehicles (EVs) and sustainable material solutions indicate a significant trend that could reshape the market outlook.
- Geographical insights reveal that the Asia-Pacific region stands at the forefront of the market's expansion, undeniably leading the charge.
This market analysis provides a comprehensive understanding of the specialty resins industry, its current trajectories, and future potentials. The intricate mapping of market segments, regional analysis, and competitive landscape form the crux of this detailed industry report, presenting a strategic compendium for informed decision-making and strategic planning.
A selection of companies mentioned in this report includes
- Aldex Chemical Company Limited
- Radiant Color NV
- Huntsman International LLC
- Purolite Corporation
- Mitsubishi Chemical Corporation
- Thermax Limited
- International Specialty Chemicals Ltd.
- BASF SE
- Emerald Performance Materials LLC
- Arkema S.A.
- Koninklijke DSM N.V.
- Pure Resin Co. Ltd.
- Kolon Industries Inc.
- Suqing Group
- Specialty Resin Chemical Co. Ltd.
- Scott Bader Company Limited
- Aditya Birla Chemicals (Thailand) Limited
- DIC Corporation
- Allnex Belgium SA/NV
- Polynt SpA
- INEOS Group Limited
- Reichhold LLC
- Sika AG
- Sinopec Baling Company Limited
- Eternal Materials Co. Ltd.
- Chang Chun Plastics Co. Ltd.
- Kukdo Chemical Co. Ltd.
- Hitachi Chemical Company Ltd.
- Nanya Plastics Corporation
- SABIC Innovative Plastics US LLC
- Sumitomo Bakelite Co. Ltd.
- Kyocera Chemical Corporation.
For more information about this report visit https://www.researchandmarkets.com/r/u4kosk
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