NEW YORK, Aug. 27, 2019 /PRNewswire/ -- A newly published report on the global polymer clay market offers comprehensive information about the polymer clay market, which includes global industry analysis 2014-2018 and forecast 2019-2029. The global polymer clay market is estimated to grow with a CAGR of ~3% during the forecast period.
The growth of the polymer clay market is predominantly driven by the development of the toy industry in developing economies of South and East Asia as well as in North America and Europe. The growing dual-income households and improving purchasing sentiments, are two influencing factors that are expected to drive the growth of the global toys market.
Furthermore, increased investment in educational toys for the cognitive development in children is estimated to fuel the demand for toys, which in turn, propels the demand for polymer clay over the forecast period i.e. 2019 – 2029. For instance, the global toys market is expected to reach ~US$ 100 billion in the next ten years and is projected to grow with a significant CAGR of 4% by the end of the forecast period.
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Solid Polymer Clay Reaffirming Bestselling Potential at a Global Level
Based on the product form, the global polymer clay market is segmented into two product forms – solid polymer clay and liquid polymer clay. In terms of volume, the solid form polymer clay segment is anticipated to be a prominent segment and is expected to grow with a healthy growth rate. The solid form of polymer clay can be easily hardened in-home and cures at a significantly lower temperature than earthen clays. Few brands of solid form of polymer clays are Cernit, Sculpey, Formello, Modello, FIMO, Premo, Makin's Clay®, etc.
The global polymer clay market can be segmented into jewellery making, manufacturing of toys & novelty items, arts and sculpture making, crockery & ceramic products, and others. The manufacturing of toys & novelty items segment is expected to have a significant growth rate over the forecast period and capture major market share throughout the forecast period. Considering the benefits of traditional toys and games in the physical, mental, and social development of a child, there is an availability of a wide variety of toys and games in the market. Polymer clay is used in the production of toys and the rise in spending power of people on toys favors the polymer clay market.
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Based on the end-use, the global polymer clay market is segmented into industrial, commercial, and residential. The commercial end-user segment is expected to be a prominent segment to capture a major market share in the global polymer clay market.
Half the Market Revenues Accounted by European and Asian Economies
Geographically, the global polymer clay market is segmented into seven key regions such as Europe, East Asia, North America, Middle East & Africa, Latin America, South Asia, and Oceania. North America is expected to account for a prominent market share in terms of volume and value, while East Asia is anticipated to grow with a significant CAGR during the forecast period.
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Toy manufacturers opting for cheap labor, huge availability of raw materials, less stringent laws and regulations, and reduced production costs, are the factors expected to positively impact the North America polymer clay market during the forecast period. Cumulatively, Europe, East Asia, and South Asia held ~48% share of the global polymer clay market in 2019. Emerging markets such as the U.S. and China are expected to experience healthy growth between 2019 and 2029.
Polymer Clay Market: Vendor Insights
The global polymer clay market is a highly consolidated market due to the relatively low presence of polymer clay manufacturers at regional level. Few key manufacturers are holding more than one-fourth market share in the market, which includes Polyform Products Company, American Art Clay Co., Inc., Van Aken International, The Clay & Paint Factory, Staedtler Mars GmbH & Co. KG, Makin's USA, etc.
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