DALLAS, Feb. 13, 2019 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the global functional polymer market looks promising with opportunities in the packaging, electrical and electronics, automotive, construction, consumer goods, medical, industrial, and others industries. The global functional polymer market is expected to reach an estimated $7.1 billion by 2023 with a CAGR of 5.6% from 2018 to 2023. The major drivers for this market are increasing demand for packaging and growth in the electrical & electronics and consumer goods industries.

Browse 84 market data tables and 113 figures spread through 177 pages and in-depth TOC on “Global Functional Polymer Market" at https://www.lucintel.com/functional-polymer-market.aspx

In this market, different types of functional polymer such as PP, PE, polyolefin, epoxy, PU, polyamide, polyester, EVA, acrylic, butadiene, and others are used as polymer type. Lucintel forecasts that the polyethylene segment will remain the largest polymer type by value and volume over the forecast due to growth in packaging, pipe & tank, and wire & cable market.

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Asia Pacific is expected to remain the largest region by value and volume; it is also expected to witness the highest growth over the forecast period due to increasing automotive production and growth in construction, electrical & electronics and consumer goods industry.

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An emerging trend, which has a direct impact on the dynamics of the functional polymer industry, includes increasing demand of functional polymers in stretchable and printable electronics applications. Evonik, DowDuPont, BASF, Toyobo, Showa Denko, Tosoh, Adeka, Solvey and Nikki Forn and others are among the major functional polymer manufacturers.

Lucintel, a leading global strategic consulting and market research firm , has analyzed and forecasted for the global functional polymer market by end use industry, polymer type, functional group, process type, and region and has come up with a comprehensive research report entitled  “ Growth Opportunities in the Global Functional Polymer Market 2018-2023: Trends, Forecast, and Opportunity Analysis .” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.

For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com .