Polymers Market - Forecast (2024 - 2030)
Polymers Market | IndustryARC

Polymers Market - Forecast (2024 - 2030)

Polymers Market Overview

The Polymers Market size is expected to reach US$790 billion by 2027, after growing at a CAGR of 5.5% during the forecast period 2022-2027. Polymers are a broad range of materials produced from small molecules called monomers. They form a long chain after bonding. Plastics are also referred to as polymers as these are manufactured using polymers. Polymers can be classified into natural polymers, semi-synthetic polymers and synthetic polymers. Based on structure, polymers can be categorized into linear polymers, cross-linked polymers and branched-chain polymers. These are extensively used in textiles, packaging, aircraft, bottles, trays, toys and many other applications. According to the US Bureau of Economic Analysis, the output of textile manufacturing in the US in 2019 was US$18.79 billion which was 23.8% more than the numbers in 2009. Thus, the growth in such end-use industries is boosting its market growth.

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Report Coverage

The “Polymers Market Report – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Polymers industry.

By Type: Natural Polymers, Synthetic Polymers and Semi-synthetic Polymers.

By Product: Thermoplastics Polymers [Polyvinyl Chloride, Polystyrene, Polypropylene, Polyethylene, Polyethylene Terephthalate (PET), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Polytetrafluoroethylene (PTFE), Teflon and Others] and Thermosetting Polymers (Epoxy, Polyamide, Phenolic, Silicone, Polyurethane, Polyester, Melamine Formaldehyde, Phenol Formaldehyde and Others).

By Process: Injection Molding, Extrusion Molding, Compression Molding, Rotational Molding, Blow Molding, Plastic Foam Molding and Others.

By Application: Fabric, Plastic Switches, Buckets, Tubes, Pipes, Water Bottles, Auto Parts, Toys, Adhesives and Sealants, Paints and Coatings, Laminated Sheets and Others.

By End-use Industry: Aerospace (Commercial Aviation, Military Aviation and General Aviation), Automotive (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicle), Construction (Residential, Commercial and Industrial), Packaging (Rigid and Flexible), Electrical and Electronics, Cosmetics and Personal Care Agriculture, Medical/Healthcare, Textile, Consumer Goods, Home Appliances and Others.

By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Russia, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

  • The significant increase in demand for polymers in a wide range of industries is expected to provide a significant growth opportunity to increase the Polymers market size in coming years.?
  • The notable growth in electronics, automotive, packaging, cosmetic and personal care and construction industry is driving the growth of the Polymers market. According to statements by Shiseido, in the first half of 2021, the company’s cosmetics sales were US$61.9 million, showing a 21.1% increase compared to US$51.1 million in 2020 first half.
  • Increase in demand for Polymers in food packaging applications is providing ample growth opportunities for the industry players in near future in the Polymers industry.

Polymers Market Segment Analysis – by Type

The thermoplastics Polymer segment is expected to grow at the fastest CAGR of 7.2% during the forecast period in the Polymers Market. Thermoplastics polymers are produced by the addition of monomers and can be moldable at certain temperatures and hardened after cooling. These are synthetic polymers and are commonly divided into crystalline and amorphous polymers. These polymers have branched and linear structures and can be reinforced with fibers. Glass fibers are the most commonly used reinforcing materials for thermoplastics polymers. These are used in a range of applications such as electrical equipment, electrical cables, films, pipes, ropes, belts, adhesives and many others. Thus, several benefits associated with the use of nanoparticles are boosting the growth and are expected to account for a significant Polymers market share.

Polymers Market Segment Analysis – by End-use Industry?

The packaging segment held the largest share of over 22% in the Polymers Market in 2021. Polymers are formulated using monomers and are largely used in a range of applications owing to their beneficial properties. Polymers are available in natural polymers, synthetic polymers and semi-synthetic polymers types. Thermoplastics and thermosetting polymers are considered suitable alternatives to metal in industrial applications. Polymers are utilized in the formulation of food packaging, plastic bags, bottles, flexible and rigid packaging and chemical-resistant packaging. The commonly used polymers in the packaging industry are polyethylene, polypropylene, polystyrene and polyvinyl chloride. Polymers are gaining popularity in packaging applications due to their beneficial thermal, mechanical and solvent-resistant properties. According to the India Brand Equity Foundation (IBEF), the packaging industry in India is expected to reach US$204.81 billion by 2025, with food processing being the largest packaging consumer. Thus, the growth in the packaging industry is boosting the growth of the Polymers market.?

Polymers Market Segment Analysis – by Geography

Asia-Pacific dominated the Polymers market in 2021, with a share of 45%. This growth is mainly attributed to the presence of several industries such as automotive, construction, packaging, electrical and electronics, textile, consumer goods, agriculture and others. Furthermore, the existence of developing economies such as China, India, Australia, Indonesia and others provide several avenues for growth. Besides, polymers play an important role and it is widely used in various industrial purposes such as automotive, construction, electronics, packaging, medical and healthcare and others. As per the 2021 report of the European Automobile Manufacturers Association on global vehicle production, China produced 32% of 74 million cars manufactured worldwide with Japan & Korea producing 16%. Thus, the significant demand from end-use industries in this region also boosts the growth of the Polymers market.

Polymers Market Drivers?

High demand from the food packaging industry:

Polymers are available in natural and synthetic types and have rising demand in the food industry, particularly for food packaging. Various packaging materials such as polypropylene, polyvinyl chloride and polyethylene are used in the production of food packaging which is further used for packaging meat, seafood, poultry and dairy and cheese. It offers enhanced visibility to the products, reduces food waste and increases the commercial life of food products. According to the Packaging Gateway, in 2019, the Indian packaging industry was projected to grow at an 18% rate annually, with rigid packaging growing at 15% and flexible packaging growing at a 25% rate. With the growth in the food processing sector, the demand for polymers is expected to surge in near future. Thus, the global growth in demand for food packaging is propelling the growth and is expected to account for a significant share of the Polymers market size.


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