Benefiting from rapid recovery in automotive and chemical industry overall, catalyst market experiences over average growth as well. Global demand on catalysts was valued at US$33.5 billion in 2014 and will witness robust growth in the next years.
Polyamide (nylon) market continues to develop very unevenly. While the polyamide fiber market is quite saturated and sees slow or flat growth, polyamide engineering thermoplastics (PA ETP) market shows strong growth globally, likely to increase between 5-6% annually in the coming years.
Benefiting from robust growth in the application markets such as orthopaedic implant, cardiac/vascular implant and others, biomedical metal market is experiencing well above industry average growth. The advancements in biomaterials in turn massively boost the development of the biomedical devices industry.
Piezoelectric devices, benefiting from the development of piezoelectric materials, have become a key enabling technology for a wide range of industrial and consumer products. Piezoelectric device market experienced robust growth in last two decades, and also sustained fairly healthy growth even during the global economic downturns. It will continue to witness strong growth in the next years, and certain application markets enjoy double digital growth.
As an enabling technology, thin film optical coatings find increasing use in many industries and add value to optical products. Advancements in thin film fabrication, deposition technologies as well as material science lead to the exploration of new application markets. The optical coatings market demonstrates rapid growth driven by demand from specialized applications and the ever expanding optoelectronics Industry.
Epoxy resin industry experiences robust growth after the recovery from its historic downturn during the last world-wide economic recession. The industry has regained strong confidence as demand from overall downstream markets rebounds quickly, particularly from composite, automobile, aircraft/aerospace and E&E markets.