At the 2023 FlexPO+ (now incorporated into the ADI Forum), Dustin Stolz, Senior Analyst, ADI Analytics, shared key insights for the specialty polymer markets during the specialty polymers panel. Engineered polymers were projected to outpace high-end polymers in growth. This was largely due to advancements in rapid prototyping technologies such as stereolithography, selective laser sintering, and fused deposition modeling. These technologies were driving demand for specific plastics. The medical sector was identified as a primary application for rapid prototyping. High-performance polymers, on the other hand, were seeing demand fueled by the automotive industry and the burgeoning hydrogen fuel cell market.
The bioplastics market was set for significant growth, with a forecasted 23% CAGR over the next five to six years. While flexible packaging remained the largest demand segment for bioplastics, the accelerated growth was primarily attributed to specialty applications. Regionally, Asia and Europe were expected to continue dominating this expanding market. This dominance was both in terms of production and consumption. Overall, the insights suggested a dynamic landscape for specialty and performance polymers. Technological innovation in prototyping and the increasing adoption of bioplastics in specialized uses were key growth catalysts.
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