The global polymer industry has been witnessing prominent growth in terms of volume, technological advancement, and development in all end use industries worldwide. Co-polymer resins play a vital role in the polymer industry. Co-polymer resins are employed in the fabrication of products for various end-use applications. They are prepared by the copolymerization of maleic anhydride and styrene and its ester derivatives. Co-polymer resins are available in free flowing powder and are soluble in alkali and many solvents.
Co-polymer resins exhibit multipurpose characteristics, such as corrosion resistance, low weight, and mechanical strength. Along with this, co-polymer resins offer water resistance, durability, flexibility and heat resistance. They deliver several other benefits including, significant product quality, and temperature, mechanical, chemical and dimensional stability. Co-polymer resins form long polymer chains and can be easily customized as per the requirement of the end product. The automotive industry is one of the key application areas of co-polymer resins, and increasing growth in the automotive sector is expected to fuel demand of the co-polymer resin market over the forecast period.
Co-polymer Resin Market: Dynamics
Growing investment in polymer technology, and improved result oriented products are expected to show double digit growth in the co-polymer resin market over the forecast period. Superior properties which precipitate increased utilization in various end use application, and rapid expansion of solar panels for photovoltaic modules are some of the positive factors expected to contribute to growth of the co-polymer resins market in the forecast period. High price and relatively complex manufacturing process are anticipated to restrict growth of the co-polymer resin market.
Manufacturers are aiming to establish long term contracts with end users for uninterrupted revenue generation, increased overall production efficiency and to reduce processing cost, without losing product quality. Introduction of novel products for end use application is the current trend, which is expected to gain further traction over the forecast period. On the basis of geographical regions, Asia Pacific is expected to gain a relatively high market share in the co-polymer resin market, especially China.
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Co-polymer Resin Market: Segmentation
The co-polymer resin market can be segmented in a number of ways, of which the more prominent classification types are on the basis of product type, application and end use industry.
On the basis of product type, the global co-polymer resin market is segmented into:
- Styrene Butadiene
- Styrene Isoprene
- Styrene Ethylene
On the basis of application, the global co-polymer resin market is segmented into:
- Electrical & Electronics
- Adhesive & Sealants
On the basis of end use industry, the global co-polymer resin market is segmented into:
Co-polymer Resin Market: Regional Outlook
The co-polymer resin market is influenced by growing trends in the automotive industry. Asia Pacific is the major co-polymer producing region and it is witnessing high growth in the demand for co-polymer resins. That apart, manufacturers are conscious about keeping equipment corrosion free. These conditions are expected to act as catalysts for the growth of the co-polymer resins market during the forecast period. Since products are required to maintain an eco-friendly environment, the co-polymer resins market is expected to see rapid growth in all developed and developing countries during the forecast period. Emerging economies in the APEJ region, especially India and China, will play a significant role in the growth of the co-polymer resins market during the forecast period.
Attributing to the increasing adoption of sustainable technology in polymer production globally, the co-polymer resins market is projected to grow at a significantly high CAGR during the forecast period. Furthermore, new technologies and inventions in co-polymer resins will foster growth in the global market.
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Co-polymer Resin Market: Market Participants
Examples of some of market participants in the co-polymer resin market, identified across the value chain are:
- Macro Polymer Pvt. Ltd