Monomers are the building blocks for all the polymers, these are molecules that bond with identical molecules to form polymers. Specialty monomers are different from commodity monomers, and these differences gives them new and important polymer properties. The most important property of specialty monomers is the built-in functionality. This functionality results in significant opportunities to customize the functional design of polymers to meet specific physical, chemical, and performance requirements. Commodity monomers do not provide such customization that is necessary for most of the modern high-tech applications. These are used in various applications in industries such as, automotive, paints & coatings, Adhesives, Pulp & paper, water treatment and personal care. Increasing demand from these industries is estimated to drive the specialty monomer market in the near future.
Increase in demand for specialty monomers in paint & coatings industry and extensive use of these materials in adhesives are factors augmenting the specialty monomer market. This is prompting companies to increase production of these materials. Additionally, easy availability of raw materials is anticipated to boost the demand for specialty monomer in the near future.
The global specialty monomer market is witnessing technological advancements. Companies are constantly striving to develop new and better ways to manufacture these materials. Development of new manufacturing processes of specialty monomer and applications is estimated to propel the market. However, volatility in prices of raw materials prices is projected to hamper the market.
In terms of type, the specialty monomer market can be divided into acrylate monomers, methacrylate monomers, acrylamide monomers, and others. The acrylate segment of the specialty monomer market is anticipated to expand at a fast pace due to the increase in demand for these materials in paints & coatings applications.
Based on end use, the specialty monomer market can be classified into paints & coatings, adhesives & sealants, automotive, pulp & paper, water treatment, personal care and others. The paints & coatings segment dominates the market owing to the extensive use of these polymers in the industrial and protective coatings in emerging economies such as India and China.
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Based on geography, the specialty monomer market can be split into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute key share of the market during the forecast period. The specialty monomer market in Asia Pacific is also estimated to expand a considerable pace owing to the increase in demand for these materials in paints & coatings applications in the region. Middle East & Africa is likely to be an attractive region of the specialty monomer market during the forecast period due to the rise in demand for these from adhesives & sealants applications in the region.
Prominent players operating in the global Specialty Monomer market include NOF America Corporation, BASF SE, Arkema Group, Evonik Industries AG, Solvay S.A., IsleChem LLC, Deltech Corporation, Bimax Chemicals Ltd., and so on.