Polymers Market - Forecast(2021 - 2026)

Global Polymers Market size is forecast to reach around $ 750 billion by 2025, after growing at a CAGR of 5.1% during 2020-2025. Polymer is one of the widely used chemical products in almost all the sectors such a medical, aerospace, packaging, automotive, construction, electrical appliances, and medical sector, and consequently, the global polymers market is thriving. Polymers are used widely as a substitute of metal and mineral based products due to its high performance, cost-effectiveness, and low weight. Increase in the retail sector and prospering e-commerce industry is demanding for more packaging material that is influencing the significance of the polymers market. Whereas, the growing interest in renewable feedstock and biopolymers among the consumers have led to the development of several alternatives to traditional plastics that in turn drives the demand for Polymer during the forecast period. Furthermore, growing demand for polymer in the electronic industry for the manufacturing of different electrical parts such as switches and sockets are driving the Polymers Market.

Report Coverage

The report: “Global Polymers Market – Forecast (2020-2025)”, by Industry ARC, covers an in-depth analysis of the following segments of the Global Polymers Market.
By Type: Polypropylene, Polyethylene (HDPE, LDPE, LLDPE, and Others), Polyvinyl Chloride, Polystyrene (Expanded Polystyrene (EPS) and Extruded Polystyrene (XPS)), Polyurethane (Flexible Polyurethane Foam, Rigid Polyurethane Foam, Thermoplastic polyurethane (TPU), and Others), and Others.
By Process: Injection Molding, Extrusion, and Others.
By End-Use Industry: Packaging (Rigid and Flexible), Building and Construction (Roofing, Windows, Flooring, and Others), Automotive (Engine, Tires, Body Panel, and Others), Electrical and Electronics, Agriculture, Medical/Healthcare, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • .In the Latin America region, in 2019, Brazil is the major market for the Polymer owing to a rise in the purchasing power of consumers, growing consumer packaged goods market, and rise in corn, wheat, and sugarcane production and consumption across the country owing to the Bio-based plastic and polymers are gaining prominent growth.
  •  
  • .The polymers are observed to be the better substitutes than glass, and metals that is leveraging the polymers market. The increasing demand for specialty polymers are fueling the growth of the polymers market.

  • .Progression in 3D printing is improving the growth aspects of polymers and plastic manufacturing. The changing preference of consumers from metal 3D printing to plastic material 3D printing is leading to substantial growth in the polymers market.
  • Fluctuation in international oil prices tend to force companies to search for an alternative stable source of the raw material for packaging, which further provides lucrative opportunities for the growth of Polymer industry.

  • .Evolution of the natural and environment-friendly polymers in the packaging sector for food packaging, cosmetics packaging and pharmaceutical packaging is driving the growth.
  • Comparatively lower awareness about the biodegradable polymer in emerging nations like India, Thailand, South Africa and Qatar are hampering the market growth. 

Global Polymers Market Segment Analysis - By Type

The Polyethylene segment is projected to witness the highest CAGR of 7.1% during the forecast period owing to the rising demand from various end-use industry. Whereas, growing uses of high-density polyethylene (HDPE) and Low-density polyethylene (LDPE) in food and beverage packaging like milk and fruit juices, crates, caps for food packaging, drums, and other liquid food packaging and industrial packaging applications drive the market growth. Construction industry is a major consumer of polyethylene which is used in the form of sheets, plates, films, foils, and strips that offer plastic protection to floors. Furthermore, polyethylene is also used in pipes and fittings which form an integral part of various industrial activities. Besides, consumer goods such as bowls, buckets, water bottles, drums, dustbins and plumbing pipes, are a few polyethylene products utilized on a daily basis. Increased sales of consumer goods offer opportunities to vendors in the polyethylene market, which in turn drive the growth of this market.


Global Polymers Market Segment Analysis - By Process

The injection molding segment is projected to witness the highest CAGR of 6.8% during the forecast period owing to its optical clarity and biocompatibility characteristics. In the injection molding process, large polymer moldings can be inexpensively manufactured in large quantities for direct usage. Furthermore, the growing complexity of technical biodegradable polymer/bioplastic moldings drives the demand for a multi-component injection molding process, which in turn propels the growth of this segment. Whereas, the growing demand for plastic components across numerous end-use industries like automotive, packaging, home appliances, electrical and electronics, and healthcare devices is expected to drive the market growth. Besides, various industries are shifting their focus towards injection-molded products in order to enhance their operations and produce products with better quality as per the customer’s requirements. For instance, the automotive industry is replacing steel with plastics to reduce a vehicle’s weight and improve fuel efficiency.

Global Polymers Market Segment Analysis - By End-Use Industry

  • The medical/healthcare segment is projected to witness the exponential growth in the global Polymers Market during the forecast period and a negative demand impact is expected to continue into 2021. This growth is attributed to the outbreak of COVID-19 and the exponential demand for Ventilators, masks, and personal protective equipment (PPE) globally. Whereas, the properties of polymers like versatility, sterile nature, safety for patients and providers, cost effectiveness, and ease of use makes the use of polymers for various medicals application such as disposable medical devices, including flexible fluid bags, tubing, oxygen, masks, surgical gloves, and face shields. Whereas, due to COVID-19 outbreak, at presently, plastics have revolutionized the medical industry and represent the largest group of materials used in medical technology. 
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Location: United States

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