Polymer Market
Polymer Market Forecasts to 2030 - Global Analysis By Type (Thermoplastics, Thermosetting Plastics, Elastomers, Biodegradable Polymers and Other Applications), Process, Application, End User and By Geography
According to Stratistics MRC, the Global Polymer Market is accounted for $826.8 billion in 2024 and is expected to reach $1268.9 billion by 2030 growing at a CAGR of 7.4% during the forecast period. A polymer is a large, complex molecule composed of repeated subunits called monomers, which are covalently bonded in a chain-like structure. These monomers can be identical or different, forming a variety of polymer types with diverse properties. Polymers can be naturally occurring, such as proteins, nucleic acids, and polysaccharides, or synthetically produced, such as plastics like polyethylene and nylon. The properties of a polymer such as its strength, flexibility, and elasticity are influenced by the type of monomers used, their arrangement, and the length of the polymer chain. Due to their versatility, polymers are crucial in many applications, from everyday items like clothing and containers to advanced materials used in medicine and technology.
According to Canadian Institute for Health Information (CIHI), the government planned to spend USD 308 billion in 2021 on the healthcare sector.
Market Dynamics:
Driver:
Innovations in polymer processing and synthesis
Advances such as improved polymerization techniques, novel catalysts, and better processing methods lead to the creation of high-performance polymers with tailored properties, like increased strength, flexibility, or thermal stability. These innovations enable the development of specialized polymers for industries like aerospace, healthcare, and electronics, broadening market opportunities.
Restraint:
Fluctuations in the prices of raw materials
Volatile costs for key raw materials, such as petrochemicals and natural gas, directly affect production expenses for polymer manufacturers. Increased raw material costs can lead to higher prices for end products, potentially reducing demand from cost-sensitive industries and consumers. This volatility can also strain profit margins, especially for companies unable to pass increased costs onto customers potentially slowing market expansion.
Opportunity:
Advances in biomedical technology
Innovations in areas such as drug delivery systems, tissue engineering, and medical devices have created a growing need for high-performance, biocompatible polymers. These advancements enable the development of polymers with tailored properties, such as controlled biodegradability, enhanced mechanical strength, and improved interaction with biological tissues. This, in turn, opens up new market opportunities for polymer manufacturers to develop and supply cutting-edge materials for healthcare applications.
Threat:
Health and safety issues
Concerns about harmful chemicals released from certain polymers, such as volatile organic compounds or toxic additives, can lead to increased scrutiny from regulatory bodies. This often results in stricter regulations, higher compliance costs, and potential bans on specific materials. Such regulations can disrupt production processes and necessitate costly reformulations or redesigns of products hindering growth and stability in the polymer market.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the polymer market by disrupting supply chains, causing raw material shortages, and delaying production. The demand for certain polymers surged, particularly for medical and hygiene products like masks and gloves, driving growth in those segments. Conversely, industries such as automotive and construction experienced reduced demand, affecting overall market performance. The pandemic also accelerated trends toward sustainable and recyclable polymers as industries sought to adapt to new health and environmental priorities.
The thermoplastics segment is expected to be the largest during the forecast period
The thermoplastics is expected to be the largest during the forecast period as they can be repeatedly melted and reformed, making them highly adaptable for various manufacturing processes, such as injection molding and extrusion. This flexibility drives demand across industries like automotive, packaging, electronics, and consumer goods. Their ease of processing and recyclability contributes to their popularity, supporting sustainability goals and reducing environmental impact.
The pipes & fittings segment is expected to have the highest CAGR during the forecast period
The pipes & fittings segment is expected to have the highest CAGR during the forecast period owing to the use of polymers in pipes and fittings offers advantages such as corrosion resistance, lightweight, and ease of installation compared to traditional materials like metal. This has led to widespread adoption of polymers like PVC, PE, and PPR in plumbing, water supply, and drainage systems. The growth in construction and infrastructure projects globally boosts the demand for polymer pipes and fittings.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to North America’s strong industrial base, including automotive manufacturing, drives demand for various polymers due to their properties such as durability, lightweight, and cost-effectiveness. Further the demand for polymers in consumer goods, such as electronics, packaging, and household products, remains strong due to their versatility and cost efficiency.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to rapid industrialization, urbanization, and rising demand from various end-use industries such as packaging, automotive, construction, and electronics. China, India, Japan, and South Korea are key contributors, driven by their expanding manufacturing sectors and growing population. Moreover the increasing consumerism and demand for flexible packaging solutions. In the automotive sector, polymers are essential for lightweight and fuel-efficient vehicle production contributing to market expansion.
Key players in the market
Some of the key players in Polymer market include Dow Inc., BASF SE, LyondellBasell Industries, ExxonMobil Chemical Company, SABIC, Royal DSM., Covestro AG, Formosa Plastics Corporation, Evonik Industries AG, Chevron Phillips Chemical Company, Sadara Chemical Company., Huntsman Corporation, Mitsui Chemicals Inc, Eastman Chemical Company.
Key Developments:
In July 2024, BASF launched game-changing heat and light stabilizer Tinuvin® NOR® 211 AR for sustainable farming practices. Tinuvin NOR 211 AR offers an effective value-in-use solution for agricultural plastics exposed to intense UV radiation, thermal stress, and inorganic chemicals commonly used in crop management and disinfection.
In July 2024, BASF introduced Haptex® 4.0, the future of sustainable synthetic leather, owing to its recyclability, Haptex 4.0 is also produced without any waste residue, and hence a more sustainable manufacturing process.
In May 2024, ExxonMobil completed acquisition of Pioneer Natural Resources. The merger of ExxonMobil and Pioneer creates an Unconventional business with the largest, high-return development potential in the Permian Basin.
Types Covered:
• Thermoplastics
• Thermosetting Plastics
• Elastomers
• Biodegradable Polymers
• Other Applications
Processes Covered:
• Injection Molding
• Extrusion
• Other Processes
Applications Covered:
• Flexible & Rigid Packaging
• Pipes & Fittings
• Automotive Interior & Exterior Components
• Wires & Cables
• Consumer Electronics
• Fibers & Fabrics
• Medical Devices
• Other Applications
End Users Covered:
• Construction
• Automotive
• Packaging
• Agriculture
• Healthcare
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Polymer Market, By Type
5.1 Introduction
5.2 Thermoplastics
5.2.1 Polyethylene
5.2.2 Polypropylene
5.2.3 Polyvinyl Chloride
5.2.4 Polystyrene
5.2.5 Polyethylene Terephthalate
5.2.6 Other Thermoplastics
5.3 Thermosetting Plastics
5.3.1 Epoxy Resins
5.3.2 Polyurethane
5.3.3 Phenolic Resins
5.3.4 Unsaturated Polyester
5.3.5 Other Thermosetting Plastics
5.4 Elastomers
5.4.1 Natural Rubber
5.4.2 Synthetic Rubber
5.5 Biodegradable Polymers
5.5.1 Polylactic Acid
5.5.2 Polyhydroxyalkanoates
5.5.3 Starch Blends
5.5.4 Other Biodegradable Polymers
5.6 Other Applications
6 Global Polymer Market, By Process
6.1 Introduction
6.2 Injection Molding
6.3 Extrusion
6.4 Other Processes
7 Global Polymer Market, By Application
7.1 Introduction
7.2 Flexible & Rigid Packaging
7.3 Pipes & Fittings
7.4 Automotive Interior & Exterior Components
7.5 Wires & Cables
7.6 Consumer Electronics
7.7 Fibers & Fabrics
7.8 Medical Devices
7.9 Other Applications
8 Global Polymer Market, By End User
8.1 Introduction
8.2 Construction
8.3 Automotive
8.4 Packaging
8.5 Agriculture
8.6 Healthcare
8.7 Other End Users
9 Global Polymer Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Dow Inc.
11.2 BASF SE
11.3 LyondellBasell Industries
11.4 ExxonMobil Chemical Company
11.5 SABIC
11.6 Royal DSM
11.7 Covestro AG
11.8 Formosa Plastics Corporation
11.9 Evonik Industries AG
11.10 Chevron Phillips Chemical Company
11.11 Sadara Chemical Company
11.12 Huntsman Corporation
11.13 Mitsui Chemicals Inc.
11.14 Eastman Chemical Company
List of Tables
1 Global Polymer Market Outlook, By Region (2022-2030) ($MN)
2 Global Polymer Market Outlook, By Type (2022-2030) ($MN)
3 Global Polymer Market Outlook, By Thermoplastics (2022-2030) ($MN)
4 Global Polymer Market Outlook, By Polyethylene (2022-2030) ($MN)
5 Global Polymer Market Outlook, By Polypropylene (2022-2030) ($MN)
6 Global Polymer Market Outlook, By Polyvinyl Chloride (2022-2030) ($MN)
7 Global Polymer Market Outlook, By Polystyrene (2022-2030) ($MN)
8 Global Polymer Market Outlook, By Polyethylene Terephthalate (2022-2030) ($MN)
9 Global Polymer Market Outlook, By Other Thermoplastics (2022-2030) ($MN)
10 Global Polymer Market Outlook, By Thermosetting Plastics (2022-2030) ($MN)
11 Global Polymer Market Outlook, By Epoxy Resins (2022-2030) ($MN)
12 Global Polymer Market Outlook, By Polyurethane (2022-2030) ($MN)
13 Global Polymer Market Outlook, By Phenolic Resins (2022-2030) ($MN)
14 Global Polymer Market Outlook, By Unsaturated Polyester (2022-2030) ($MN)
15 Global Polymer Market Outlook, By Other Thermosetting Plastics (2022-2030) ($MN)
16 Global Polymer Market Outlook, By Elastomers (2022-2030) ($MN)
17 Global Polymer Market Outlook, By Natural Rubber (2022-2030) ($MN)
18 Global Polymer Market Outlook, By Synthetic Rubber (2022-2030) ($MN)
19 Global Polymer Market Outlook, By Biodegradable Polymers (2022-2030) ($MN)
20 Global Polymer Market Outlook, By Polylactic Acid (2022-2030) ($MN)
21 Global Polymer Market Outlook, By Polyhydroxyalkanoates (2022-2030) ($MN)
22 Global Polymer Market Outlook, By Starch Blends (2022-2030) ($MN)
23 Global Polymer Market Outlook, By Other Biodegradable Polymers (2022-2030) ($MN)
24 Global Polymer Market Outlook, By Other Applications (2022-2030) ($MN)
25 Global Polymer Market Outlook, By Process (2022-2030) ($MN)
26 Global Polymer Market Outlook, By Injection Molding (2022-2030) ($MN)
27 Global Polymer Market Outlook, By Extrusion (2022-2030) ($MN)
28 Global Polymer Market Outlook, By Other Processes (2022-2030) ($MN)
29 Global Polymer Market Outlook, By Application (2022-2030) ($MN)
30 Global Polymer Market Outlook, By Flexible & Rigid Packaging (2022-2030) ($MN)
31 Global Polymer Market Outlook, By Pipes & Fittings (2022-2030) ($MN)
32 Global Polymer Market Outlook, By Automotive Interior & Exterior Components (2022-2030) ($MN)
33 Global Polymer Market Outlook, By Wires & Cables (2022-2030) ($MN)
34 Global Polymer Market Outlook, By Consumer Electronics (2022-2030) ($MN)
35 Global Polymer Market Outlook, By Fibers & Fabrics (2022-2030) ($MN)
36 Global Polymer Market Outlook, By Medical Devices (2022-2030) ($MN)
37 Global Polymer Market Outlook, By Other Applications (2022-2030) ($MN)
38 Global Polymer Market Outlook, By End User (2022-2030) ($MN)
39 Global Polymer Market Outlook, By Construction (2022-2030) ($MN)
40 Global Polymer Market Outlook, By Automotive (2022-2030) ($MN)
41 Global Polymer Market Outlook, By Packaging (2022-2030) ($MN)
42 Global Polymer Market Outlook, By Agriculture (2022-2030) ($MN)
43 Global Polymer Market Outlook, By Healthcare (2022-2030) ($MN)
44 Global Polymer Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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