Monomers are the building blocks for all the polymers, these aremolecules that bond with identical molecules to form polymers. Specialtymonomers are different from commodity monomers, and these differences givesthem new and important polymer properties. The most important property ofspecialty monomers is the built-in functionality. This functionality results insignificant opportunities to customize the functional design of polymers tomeet specific physical, chemical, and performance requirements. Commoditymonomers do not provide such customization that is necessary for most of themodern high-tech applications. These are used in various applications inindustries such as, automotive, paints & coatings, Adhesives, Pulp &paper, water treatment and personal care. Increasing demand from theseindustries is estimated to drive the specialtymonomer market in the near future.
Increasein demand for specialty monomers in paint & coatings industry and extensiveuse of these materials in adhesives are factors augmenting the specialtymonomer market. This is prompting companies to increase production of thesematerials. Additionally, easy availability of raw materials is anticipated toboost the demand for specialty monomer in the near future.
The globalspecialty monomer market is witnessing technological advancements. Companiesare constantly striving to develop new and better ways to manufacture thesematerials. Development of new manufacturing processes of specialty monomer andapplications is estimated to propel the market. However, volatility in pricesof raw materials prices is projected to hamper the market.
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In termsof type, the specialty monomer market can be divided into acrylate monomers,methacrylate monomers, acrylamide monomers, and others. The acrylate segment ofthe specialty monomer market is anticipated to expand at a fast pace due to theincrease in demand for these materials in paints & coatings applications.
Based onend use, the specialty monomer market can be classified into paints &coatings, adhesives & sealants, automotive, pulp & paper, watertreatment, personal care and others. The paints & coatings segmentdominates the market owing to the extensive use of these polymers in theindustrial and protective coatings in emerging economies such as India andChina.
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Based ongeography, the specialty monomer market can be split into North America, LatinAmerica, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific isanticipated to constitute key share of the market during the forecast period.The specialty monomer market in Asia Pacific is also estimated to expand aconsiderable pace owing to the increase in demand for these materials in paints& coatings applications in the region. Middle East & Africa is likelyto be an attractive region of the specialty monomer market during the forecastperiod due to the rise in demand for these from adhesives & sealantsapplications in the region.
Prominentplayers operating in the global Specialty Monomer market include NOF AmericaCorporation, BASF SE, Arkema Group, Evonik Industries AG, Solvay S.A., IsleChemLLC, Deltech Corporation, Bimax Chemicals Ltd., and so on.
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