Global Polymer Market

Global Polymer Market Size, Share, Growth Analysis, By Type(Thermoplastics, Thermosets), By Base Material(Polyethylene, Polypropylene), By Application(Packaging, Construction), By Products(Thermoplastic, thermosets) - Industry Forecast 2023-2030


Report ID: SQMIG15E2440 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 123 | Figures: 77

Global Polymer Market Insights

Polymer Market size was valued at USD 629.4 billion in 2021 and is poised to grow from USD 659.81 billion in 2022 to USD 1046.15 billion by 2030, growing at a CAGR of 4.69% in the forecast period (2023-2030).

Polymers as a product are used in everyday life and therefore have high growth potential. Increasing plastic consumption in the construction, automotive, electrical & electronics industries is projected to support market growth. Plastics are those polymers that are highly demanded in the packaging industry, owing to their attributes, such as lightweight, flexibility, strength, etc. This demand is further accelerated by the recent covid crisis wherein the demand for packaged food increased.

Another contributing factor is the increasing demand for polymers in the construction industry especially from emerging economies such as Brazil, China, India, etc. This is also due to increased investments and FDI in the construction industry.

The Covid-19 pandemic negatively impacted the polymer industry due to the reduced demand and production of light vehicles; this is one sector where the polymer is used on a large scale. But because other industries where the demand for the polymer is high such as packaging, food processing, personal care, etc. have functioned throughout the crisis, this has given a boost to the market. On the other hand, because the covid cases are increasing the use of plastic in testing instruments, gloves, etc. has also increased thus, the growth of the market has been positive.

US Polymer Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 629.4 billion

Largest Segment

Thermoplastics

Fastest Growth

Thermoplastics

Growth Rate

4.69% CAGR

Global Polymer Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Polymer Market By Type ($ Bn)
Global Polymer Market By Type (%)

To get more reports on the above market click here to Buy The Report

Global Polymer Market Segmental Analysis

Polymer Market is segmented based on Type, Material, Application, and Region. Based on Type Polymer Market is categorized into: Thermoplastics, Thermosets, Elastomers. Based on Material Polymer Market is categorized into: Polyethylene, Polypropylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polystyrene, Polyurethane. Based on Application Polymer Market is categorized into: Packaging, Construction, Automotive, Agriculture, Electrical & Electronics, Textile. Based on products, the Polymer Market is segmented into Thermoplastic, thermosets, elastomers. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Polymer Market Analysis by Type

The thermoplastics category held the largest proportion of the polymer market in terms of type in 2021. The rising demand for thermoplastics in the food packaging business can be due to their high mechanical strength, cost efficiency, and ease of manufacture. These characteristics have also increased demand for thermoplastics in other industries, such as lightweight structural construction, storage tanks, and window frames and panels.

Polymer Market Analysis by Material

During the projection period, the polyethylene category, based on base material, is expected to develop at the fastest rate in the polymer market. Consumer spending and production operations in different sectors, such as automotive, construction, and packaging, may accelerate as a result. It is in high demand for packaging products, tubing products, connectors, bottles, and plastic surgery implants because to its relatively remarkable mechanical features, such as high flexibility, good stability, high heat resistance, and high impact resistance.

Global Polymer Market By Type, 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Polymer Market Regional Insights

In terms of the regional dynamics, Asia pacific was dominant amongst all other regions. The region had a total share of 44% in 2021. The growth of the region has been attributed to India and China as both countries saw an increase in the production of automobiles wherein now polymer is used on a large scale. Europe too will see growth in the future mainly coming from the automotive industry.

Global Polymer Market By Region, 2023-2030
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Polymer Market Dynamics

Polymer Market Driver

Technological Advancement to Boost Demand for Polymer in the coming Years

  • Polymer products were formerly discarded after use, resulting in increased trash accumulation in landfills and negative environmental consequences. Manufacturers of polymers have begun to employ improved technology in mechanical and chemical recycling procedures as time has passed. The primary benefit of polymer recycling is that it lowers manufacturing costs by decreasing the use of new or fresh raw materials. As a result, the polymer market is seeing optimal resource usage through polymer material recycling to reduce waste and create a more sustainable environment.

Polymer Market Restraint

Stringent Regulations to Hinder Market Growth

  • The introduction of tight laws by regulatory agencies against the use of plastic is a major limiting factor in the Polymer Market. The government is attempting to safeguard the environment from plastic pollution, which is restraining polymer production growth. The most significant prospects for the Polymer Market are a considerable change in the market towards smart polymers and the replacement of traditional materials in the automotive sector.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Polymer Market Competitive Landscape

Players in the Polymers Market study use technology launches, acquisitions, and R&D efforts as important strategies. The Dow Chemical Company, LyondellBasell Industries N.V., Exxon Mobil Corporation, SABIC, BASF SE, INEOS AG, Eni S.p.A., Chevron Phillips Chemical Company LLC, and LANXESS are among the major companies in the Polymers Market.

Polymer Market Top Players Company Profiles

  • ExxonMobil Chemical
  • BASF SE
  • Dow Chemical
  • LyondellBasell Industries
  • SABIC
  • Sinopec
  • Mitsubishi Chemical Holdings Corporation
  • Formosa Plastics Corporation
  • LG Chem
  • Sumitomo Chemical
  • Chevron Phillips Chemical Company
  • Braskem
  • Covestro AG
  • Huntsman Corporation
  • Eastman Chemical Company
  • DuPont de Nemours, Inc.
  • Evonik Industries AG
  • INEOS Group Holdings SA
  • Arkema SA
  • Solvay SA

Polymer Market Recent Developments

  • In May 2022, DOMO chemicals announce new brand NYLEO® for its innovative performance fibers product line. NYLEO® combines a compelling blend of well-established performance fibers and ground-breaking new solutions. NYLEO is widely used in the textile, flooring, flock, and abrasive industries.
  • In May 2022, Avient Corporation, a provider of specialized and sustainable material solutions and services, has announced the expansion of its MevopurTM bio-based medical-grade polymer solution line. The bio-based polycarbonate, ABS, or styrenic polymers are used in the new color and additive concentrates and tailored ready-to-use formulations.

Global Polymer Key Market Trends

  • One key trend that is disrupting the market is the use of sustainable polymers is, established players in the market have already started recycling of products with the help of modern technology which involves chemical and mechanical ways of recycling. One key benefit of this is cost optimization as the company can minimize the use of raw materials. Thus, proper use of resources with the help of recycling which also enables to reduce waste and is more environment friendly is a key trend observed in the polymer market.
  • The use of smart polymers is one trend that is driving the growth of the market. Smart polymers are mainly in demand from the health industry. They are used in biosensors, artificial body parts etc. They are used on such a large scale mainly because of their strength and flexibility. The biocompatible nature of smart polymers will drive their demand and also the overall growth of the polymer market.
  • There has also been a shift towards the use of polymers in non-traditional industries such as automobile. Automobile manufacturers now want to produce cars that are light in weight and therefore use polymers instead of metals. When polymers are used in a vehicle its weight is reduced by a significant amount and this is one factor that will lead more demand of polymers all over the world.

Global Polymer Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research. SQ identified the key dominating segments of the market by offerings and verticals.

According to our global polymer market analysis,during the forecast period, the medical/healthcare category is likely to show exponential growth in the global Polymers Market, with a negative demand effect expected to remain until 2021. This increase can be ascribed to the COVID-19 epidemic and the global demand for ventilators, masks, and personal protective equipment (PPE).

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Report Metric Details
Market size value in 2021 USD 629.4 billion
Market size value in 2030 USD 1046.15 billion
Growth Rate 4.69%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Thermoplastics, Thermosets, Elastomers
  • Base Material
    • Polyethylene, Polypropylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polystyrene, Polyurethane
  • Application
    • Packaging, Construction, Automotive, Agriculture, Electrical & Electronics, Textile
  • Products
    • Thermoplastic, thermosets, elastomers
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • ExxonMobil Chemical
  • BASF SE
  • Dow Chemical
  • LyondellBasell Industries
  • SABIC
  • Sinopec
  • Mitsubishi Chemical Holdings Corporation
  • Formosa Plastics Corporation
  • LG Chem
  • Sumitomo Chemical
  • Chevron Phillips Chemical Company
  • Braskem
  • Covestro AG
  • Huntsman Corporation
  • Eastman Chemical Company
  • DuPont de Nemours, Inc.
  • Evonik Industries AG
  • INEOS Group Holdings SA
  • Arkema SA
  • Solvay SA
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Polymer Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Polymer Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Polymer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polymer Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Polymer Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Polymer Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$5,300
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

Polymer Market size was valued at USD 629.4 billion in 2021 and is poised to grow from USD 659.81 billion in 2022 to USD 1046.15 billion by 2030, growing at a CAGR of 4.69% in the forecast period (2023-2030).

Players in the Polymers Market study use technology launches, acquisitions, and R&D efforts as important strategies. The Dow Chemical Company, LyondellBasell Industries N.V., Exxon Mobil Corporation, SABIC, BASF SE, INEOS AG, Eni S.p.A., Chevron Phillips Chemical Company LLC, and LANXESS are among the major companies in the Polymers Market. 'ExxonMobil Chemical', 'BASF SE', 'Dow Chemical', 'LyondellBasell Industries', 'SABIC', 'Sinopec', 'Mitsubishi Chemical Holdings Corporation', 'Formosa Plastics Corporation', 'LG Chem', 'Sumitomo Chemical', 'Chevron Phillips Chemical Company', 'Braskem', 'Covestro AG', 'Huntsman Corporation', 'Eastman Chemical Company', 'DuPont de Nemours, Inc.', 'Evonik Industries AG', 'INEOS Group Holdings SA', 'Arkema SA', 'Solvay SA'

Polymer products were formerly discarded after use, resulting in increased trash accumulation in landfills and negative environmental consequences. Manufacturers of polymers have begun to employ improved technology in mechanical and chemical recycling procedures as time has passed. The primary benefit of polymer recycling is that it lowers manufacturing costs by decreasing the use of new or fresh raw materials. As a result, the polymer market is seeing optimal resource usage through polymer material recycling to reduce waste and create a more sustainable environment.

One key trend that is disrupting the market is the use of sustainable polymers is, established players in the market have already started recycling of products with the help of modern technology which involves chemical and mechanical ways of recycling. One key benefit of this is cost optimization as the company can minimize the use of raw materials. Thus, proper use of resources with the help of recycling which also enables to reduce waste and is more environment friendly is a key trend observed in the polymer market.

In terms of the regional dynamics, Asia pacific was dominant amongst all other regions. The region had a total share of 44% in 2021. The growth of the region has been attributed to India and China as both countries saw an increase in the production of automobiles wherein now polymer is used on a large scale. Europe too will see growth in the future mainly coming from the automotive industry.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Polymer Market

Product ID: SQMIG15E2440

$5,300
BUY NOW GET SAMPLE