Polymers Market Overview
Polymers Market was valued at US$ 832.2 Billion in 2024 and is projected to grow at a CAGR of 5.90% to reach US$ 1402.8 Billion by 2034.
Bakelite was world’s first synthetic plastic in 1907, which was the establishment of Polymer Age. Polymer is a large macromolecule with combination of many subunits. Polymers are of two types which includes synthetic and natural polymers. Synthetic polymers are obtained from petroleum oil which includes epoxy, polyester, nylon, Teflon and polyethylene. Natural Polymers are obtained from nature. Polymers are used widely in industries. Polymers are used in production of surface coatings, adhesives, man-made fibers, plastics, etc. Polymers are resistant to chemicals. Polymers are ten times lighter than metals. Polymers are used in scaffolds for skin tissue engineering, used for construction of synthetic skin substitutes, used in formulations of drug delivery. Polymers are used in packing materials. Polymers are used in modern living like use in water bottles, soda bottles, food packaging, grocery bags, toys, etc. Polymers are used in industries like automotive parts, pipes, tanks, insulation, composites, wind shields for fighter plane, adhesives, etc. Polymers are used instead of metals due to its less maintenance, less wear and can be lasts for longer period of time. However, the wide variety of applications of Polymer in every industries and daily needs has boosts the growth of the market.
Polymers Market Dynamics
Rise in disposable income and rate of urbanization
Rise in disposable income of an individual is one of the leading factors for the global polymers market growth. Disposable income allows the consumer to enhance their lifestyle and spend more on luxury household appliances, coupled with scope of investment leading to better sales of consumer electronics products and many daily household things. Moreover, growing number of India’s young population and rapidly increase in urbanization have supported the demand for polymers in the market. From eight million tonnes in 2010, India’s consumption of polymer has increased to fifteen million tonnes in 2020. Thus, increase in demand will increase the growth of polymers in the market till forecast period. Currently, most of the world’s population lives in rural areas. According to data published by United Nations in 2014, about 54% of the world’s population resided in urban areas, and it is projected that this percentage will increase over the forecast period. However, the growth in population in urban areas and rise in disposable income boosts the demand for polymers in the market.
Rise in prevalence of disease and technological advancement
Manufactures involved in Polymers market are developing advanced versions of their products due to new age technological advancements. Rise in prevalence of disease like infections, cardiovascular disease, other disorders are owing in development of new advanced medical devices and treatments. Newly advanced technology in synthetic polymers has determined the robust potential in healthcare industries. The global polymer market is witnessing strong growth in healthcare industries. For instance, in 2021, ARKEMA has launched new advanced Bio-Circular medical polymer which is used in replace of metal and traditional polymers with properties like biocompatibility, lightweight, recyclable, high resistance to chemical agents, and easy to process.
Restrains:
However, strict rules by government on use of polymers will somewhat restrain the growth of the target market.
Polymers Market Segmentation
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
The global polymers market is segmented based on type, application, and region.
On the basis of type, the global polymers market is segmented into Thermosets, Thermoplastics, Elastomers and others. On the basis of application, the target market is classified into Food Packaging, Floor Coverings, Automobile Parts, Grocery Bags, Textile Fibers, Electronics, Medical Devices, and others.
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the global polymers market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as India and China, and technological advancements. Moreover, rising presence of industrial corridor and technological advancement is anticipated to increase demand for polymers in the region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2023 |
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Forecast period |
2024 – 2034 |
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Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
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Market Segmentation |
By Type - Thermosets, Thermoplastics, Elastomers and others By Application – Food Packaging, Floor Coverings, Automobile Parts, Grocery Bags, Textile Fibers, Electronics, Medical Devices, and others.
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the global polymers market report based on type, application, and region:
Global Polymers Market, By Type:
- Thermosets
- Thermoplastics
- Elastomers
- Others
Global Polymers Market, By Application:
- Food Packaging
- Floor Coverings
- Automobile Parts
- Grocery Bags
- Textile Fibers
- Electronics
- Medical Devices
- Others
Global Polymers Market, By Region:
-
-
- North America
-
- U.S.
- Canada
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- North America
-
Polymers Market Key Players
The key players operating the polymers market includes, Eastman Chemical Company, Dow Inc., Arkema, Mitsui & Co. Plastics Ltd., LG Chemicals Ltd., Celanese Corporation, Evonik Industries, SABIC, DuPont de Nemours Inc., BASF SE, Songwon Industrial Co. Ltd., Wanhua Chemical Group Co. Ltd., Shandoug Nuoer Biological Technology Co. Ltd., Formosa Plastic Corporation, Kao Corporation, Sanyo Chemicals Industries Ltd., etc. Prominent players operating in the target market are focusing on the strategic partnerships as well as launching of the products in order to gain competitive edge in the target market. For instance, in 2021, Mitsui & Co. Plastics Ltd., announced the news to construct the new polypropylene manufacturing facility which enable the production of high performance polypropylene to meet the needs of thinning, light weighting automotive materials and offering recyclable materials.
Polymers Market Company Profile
- Mitsui & Co. Plastics Ltd.*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Eastman Chemical Company
- Dow Inc.
- Arkema
- LG Chemicals Ltd.
- Celanese Corporation
- Evonik Industries
- SABIC
- DuPont de Nemours Inc.
- BASF SE
- Songwon Industrial Co. Ltd.
- Wanhua Chemical Group Co. Ltd.
- Shandoug Nuoer Biological Technology Co. Ltd.
- Formosa Plastic Corporation
- Kao Corporation
- Sanyo Chemicals Industries Ltd.
“*” marked represents similar segmentation in other categories in the respective section
Polymers Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Polymers Market, By Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Thermosets
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Thermoplastics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Elastomers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Polymers Market, By Application, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Food Packaging
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Floor Coverings
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Automobile Parts
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Grocery Bags
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
-
- Textile Fibers
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Textile Fibers
-
- Electronics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Electronics
-
- Medical Devices
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2020 – 2030
- Medical Devices
- Global Polymers Market, By Region, 2020 – 2030, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Application, 2020 – 2030
- Market Size and Forecast (US$ Bn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Eastman Chemical Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Dow Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Arkema
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Mitsui & Co. Plastics Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- LG Chemicals Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Celanese Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Evonik Industries
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SABIC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- DuPont de Nemours Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BASF SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Songwon Industrial Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Wanhua Chemical Group Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Shandoug Nuoer Biological Technology Co. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Formosa Plastic Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kao Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sanyo Chemicals Industries Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Polymers Market is segmented into basis of on type, application, and region.
Rise in disposable income of an individual is one of the leading factors for the global polymers market growth.
By region, The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as India and China, and technological advancements.
The Key players operating in the Global Polymers Market includes Eastman Chemical Company, Dow Inc., Arkema, Mitsui & Co. Plastics Ltd., LG Chemicals Ltd., Celanese Corporation, Evonik Industries, SABIC, DuPont de Nemours Inc., BASF SE, Songwon Industrial Co. Ltd., Wanhua Chemical Group Co. Ltd., Shandoug Nuoer Biological Technology Co. Ltd., Formosa Plastic Corporation, Kao Corporation, Sanyo Chemicals Industries Ltd., etc.