The global demand on silicones approached US$16.42 billion in 2014, approximately 4.5% up from the previous year. It is expected to grow by 5% in the coming years. With a wide range of applications, innovative products, and more environmentally friendly materials, the silicone market will experience healthy and robust growth in the future.
Global acrylic resin industry achieved remarkable growth in the last years. The outstanding chemical characteristics and unique aesthetic properties of the acrylic resin make it a very valuable material for a wide range of applications. Major application markets for acrylic resin are paints & coatings, adhesive & sealant and construction & architecture, while strongest demand comes from automotive and medical device markets.
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.