Specialty Monomers Market Trends

Growth Drivers

• The Rising Need for Wastewater Treatment And Cleaning- The wastewater treatment plants in high-income countries are estimated to treat approximately 68% of the wastewater generated by them. Lower-middle-income countries have a water treatment ratio of 27%, upper-middle-income countries have a treatment ratio of 37%, and low-income countries have a treatment ratio of 7%. Specialty monomers are molecules that have been specifically designed to target and remove specific pollutants from water. They are often used in water treatment processes as they are highly efficient at removing contaminants and don't produce any by-products that could be harmful to the environment.

• Increasing Popularity Of Personal Care Products- It is estimated that 450-500 million consumers in Europe consume cosmetics and personal care products every day in order to maintain their health and wellbeing. Specialty monomers are used in personal care products to provide characteristics such as improved water resistance, improved flexibility, and improved color stability. They can also provide improved solubility, increased UV protection, and increased durability.
• A Rapid Increase In The Production Of Pulp And Consumption Of Paper- It was observed that around 37% of harvested trees are used to manufacture paper around the world, resulting in a 400% increase in paper consumption over the past 40 years. These Monomers are used to modify the properties of paper produced from pulp. They can be used to increase strength, brightness, opacity, and to reduce the amount of ink absorbed into the paper.

• Growing Industrial Production Around The World - According to a recent report, it is estimated that the manufacturing output worldwide amounted to approximately USD 16,047 billion in 2021. This represents an increase of 18.25% from 2020. Industrial production requires a wide range of specialty monomers, such as polymers, resins, and plasticizers, for a variety of applications, including automotive, electronics, packaging, and construction. With the increase in industrial production, the demand for these specialty monomers is expected to increase significantly.
• Global Automotive Industry Demand for Specialty Monomers Along with Increasing Automobile Production - A total of 80 million motor vehicles were manufactured across the world in 2021, an increase of 1.4% over the previous year. For the automotive industry, these monomers are often used to improve the strength and durability of the materials used in the manufacture of vehicles, making them more resilient to wear and tear and harsh weather conditions.

Challenges

• Availability of cheaper alternatives - Low-cost alternatives are readily available, which makes them more attractive to consumers, who are looking for more affordable options. This competition has caused some manufacturers to reduce their prices, resulting in a decrease in overall profit margins and a slowdown in the market.

• Stringent government regulations, and environmental concerns

• Rising costs of raw materials and fluctuating prices of the end-products