Given its characteristics like corrosion resistance, lightweight, durability, flexibility, and thermal resistance, polymer blends and alloys is one of the most lucrative sectors of the plastic industry. They are extensively used in commercial applications like electronics and construction. Because of its excellent and favorable properties, the market for polymer blends and alloys has shown some lucrative opportunities in the past few years.
Key Driving Factors
Considering the increase in demand for polymer blends and alloys over traditional materials from end-user industries, the global market for polymer blends and alloys has seen a substantial growth over the past few years.
The recent developments in industries as well as technologies that are now using polymer blends as their primary material, is also one of the contributing factors for this market growth. Automotive industry is expected to play a vital role in increasing the demand for polymer blends in the Asia-Pacific region, mainly due to the increasing economy, which has boosted the construction, automotive, and electronics sectors immensely.
At present, high manufacturing and processing costs can be a couple of deterrents for the growth of this market. However, in spite of these obstacles, researchers have predicted a positive future for this market over the coming years.
Know the Market
The polymer blends and alloys market is set to reach USD 4.2 Billion by 2020 from USD 3.3 Billion in 2015, advancing at a CAGR of 5.30% during the projected period. At present, Asia-Pacific leads the market with the highest market share, comprising China and Japan, which are the largest consumers in this region. It is expected to show an upward trend with the highest CAGR over the coming years as well.
Among application, automotive industry is expected to govern this market, while the electrical & electronics application is projected to be the fastest-growing market during the estimated period.
Out of the types, PC-based blends and alloys dominate the market since they are majorly used in commercially important applications like electronic components and construction materials because of their properties like resistance from corrosion and heat, toughness, and dielectric stability.
The key competitors in the polymer blends and alloys market include SABIC (Saudi Arabia), E. I. du Pont de Nemours and Co.(U.S.), Covestro AG (Germany), A. Schulman Inc. (U.S.), Mitsubishi Engineering Plastics Corp. (Japan), Diacel Polymer Ltd. (Japan), Asahi Kasei Chemical Corporation (Japan), BASF SE (Germany), JSR Corporation (Japan), and Chi Mei Corporation (Taiwan).
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Scope of the Research
As per the researchers, the market for polymer blends and alloys has been studied and analyzed in depth, based on the following categories:
- Type: PC, PPE/PPO-based blends and alloys, others
- Application: Automotive, Electrical & Electronics, Consumer Goods, Others
- Region: North America, Europe, Asia-Pacific, RoW
