According to a new report, published by KBV research, The Global Specialty Resins Market size is expected to reach $12.6 billion by 2031, rising at a market growth of 6.2% CAGR during the forecast period. In the year 2023, the market attained a volume of 2,755.0 kilo tonnes, experiencing a growth of 26.5% (2020-2023).
The Insulation & Other Functions segment is experiencing a CAGR of 6.7% during (2024 - 2031). Specialty resins, such as epoxy and polyurethane, are widely used in electrical components, construction materials, and industrial applications due to their superior insulating properties. The demand for high-performance insulation materials has surged as a result of the continued proliferation of renewable energy technologies. These materials are crucial for maintaining the safety and efficacy of electrical systems.
The Building & Construction segment is leading the Global Specialty Resins Market by Application in 2023; thereby, achieving a market value of $4.2 billion by 2031. Coatings, adhesives, sealants, and composites are just some of the applications that make use of specialty resins in the engineering and construction sectors of the economy. These resins provide durability, weather resistance, and chemical resistance, making them ideal for use in architectural coatings, flooring, roofing, and structural adhesives. Specialty resins are also used in construction composites to enhance strength and reduce weight.
The Polyamides segment exhibits a CAGR of 6% during (2024 - 2031). Polyamides are recognized for their mechanical strength, thermal resistance, and durability, rendering them appropriate for use in industrial machinery, automotive components, and electrical insulation. In conjunction with the growing emphasis on sustainability, the adoption of polyamide polymers has increased in response to the expanding demand for lightweight and high-performance materials across a variety of industries.
Full Report: https://www.kbvresearch.com/specialty-resins-market/
The Asia Pacific region dominated the Global Specialty Resins Market by Region in 2023; thereby, achieving a market value of $6.7 billion by 2031. The North America region is experiencing a CAGR of 5.7% during (2024 - 2031). Additionally, The Europe region would witness a CAGR of 6.8% during (2024 - 2031).
By Function (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Type (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)
Unique Offerings 
