DUBLIN, July 19, 2021 /PRNewswire/ — The “Polymer Market Research Report: By Type, Base Material, Application – Global Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
Due to a growing emphasis on a higher fuel economy, heavy materials, such as glass and metals, are being replaced by lighter variants, including polycarbonate (PC), in the automotive industry. As a result, the global polymer market size is expected to increase from $533.6 billion in 2019 to $838.5 billion by 2030, at a 5.1% CAGR between 2020 and 2030. This is because PC and other polymers have excellent electrical, mechanical, insulating, optical, and chemical properties, as well as a high strength-to-weight ratio and elasticity and corrosion resistance.
With time, almost 30% of all automotive components are now being made from polymers. Moreover, with the rising demand for electric vehicles, the polymer market will grow further, as these materials are used to make lightweight battery packs. As a result of the growing concerns regarding air pollution, the need for lightweight vehicles, preferably electric variants, is driving the demand for polymers.
During the COVID-19 crisis, automotive plants across the world were shut down, in compliance with government mandates. This drastically reduced the demand for various raw materials, thus affecting the polymer market negatively. However, the demand for these materials in the food processing, packaging, pharmaceutical, and personal care sectors remained strong, as these industries are considered essential, therefore continued to operate during the pandemic.
Polymer Market Segmentation Analysis
The thermoplastics category, based on type, held the largest share in the polymer market in the past. The cost efficiency, high mechanical strength, and manufacturing ease of thermoplastics have made them vastly popular in the food packaging, construction, textile, automotive, and home appliance industries.
In the coming years, the polyethylene (PE) category, under the base material segment, will witness the highest value CAGR in the polymer market, of 5.6%. PE accounts for a high-volume consumption in the production of tubing products, packaging products, bottles, connectors, and plastic surgical implants, as a result of its high flexibility, stability, heat resistance, and impact resistance.
Packaging is projected to continue being the largest category in the polymer market, under segmentation by application, throughout this decade. As polymers offer protection, appreciable flexibility, and high shock, vibration, and surface abrasion resistance to products, they are replacing conventional packaging materials.
Presently, Asia-Pacific (APAC) is the most-productive polymer market, and it is also set to grow the fastest in the years to come. The expansion of the construction, automotive, agriculture, packaging, textile, and electronics & electrical industries is propelling the consumption of numerous polymeric materials in the region. Among the most-significant applications of polymers in APAC are the production of battery parts, flexible bottles, bearings, film wrapping, cams, gears, handles, bushings, wire and cable jacketing, anti-corrosion seals, and safety helmets.
Major global polymer market players include Evonik Industries AG, Dow Inc., Eastman Chemical Company, Royal DSM, Mitsui Chemicals Inc., Covestro AG, BASF SE, Exxon Mobil Corporation, Huntsman Corporation, Clariant International Limited, Saudi Basic Industries Corporation (SABIC), and Sadara Chemical Company.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
3.1 Voice of Industry Experts
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
4.1.1.1 Thermoplastics
4.1.1.2 Thermosets
4.1.1.3 Elastomers
4.1.2 By Base Material
4.1.2.1 Polyethylene
4.1.2.2 Polypropylene
4.1.2.3 Polyvinyl chloride
4.1.2.4 Polyethylene terephthalate
4.1.2.5 Polystyrene
4.1.2.6 Polyurethane
4.1.2.7 Others
4.1.3 By Application
4.1.3.1 Packaging
4.1.3.2 Construction
4.1.3.3 Automotive
4.1.3.4 Agriculture
4.1.3.5 Electrical & electronics
4.1.3.6 Textile
4.1.3.7 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing focus on product recycling and sustainable environment
4.3.2 Drivers
4.3.2.1 Increased replacement of conventional materials in automotive sector
4.3.2.2 Increased use of smart polymers
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Stringent government regulations
4.3.3.2 Fluctuating cost of raw materials
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Rising use of biopolymers
4.4 Impact of COVID-19
4.4.1 Global Share by Countries
4.4.1.1 Contribution of countries toward global manufacturing output
4.4.1.2 Contribution of countries toward global export and import (2019)
4.4.1.2.1 Top 20 countries by export ($B)
4.4.1.2.2 Top 20 countries by import ($B)
4.4.2 Global Scenario of COVID-19 Impact
4.4.3 Global Scenario
4.4.3.1 GDP growth rate (2019)
4.4.3.2 GDP growth rate (2020)
4.4.3.3 GDP growth rate projection for 2021
4.4.4 Assessment of COVID-19 Impact on GDP and Economic Forecast
4.4.5 Assessment of COVID-19 Impact on Workforce Across Various Sectors
4.4.6 Impact of Covid-19 on Global Polymer Market
4.5 Porter’s Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.2 By Base Material
5.3 By Application
5.4 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Type
6.2 By Base Material
6.3 By Application
6.4 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Type
7.2 By Base Material
7.3 By Application
7.4 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Type
8.2 By Base Material
8.3 By Application
8.4 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Type
9.2 By Base Material
9.3 By Application
9.4 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Type
10.2 By Base Material
10.3 By Application
10.4 By Country
Chapter 11. Major Markets: Segment Analysis
11.1 U.S. Market
11.1.1 By Type
11.1.2 By Base Material
11.1.3 By Application
11.2 Germany
11.2.1 By Type
11.2.2 By Base Material
11.2.3 By Application
11.3 China Market
11.3.1 By Type
11.3.2 By Base Material
11.3.3 By Application
Chapter 12. Competitive Landscape
12.1 Market Share Analysis of Key Players
12.2 Competitive Benchmarking of Key Players
12.3 List of Other Players
12.4 Strategic Developments of Key Players
12.4.1 Facility Expansions
12.4.2 Mergers and Acquisitions
12.4.3 Other Developments
Chapter 13. Company Profiles
13.1 Dow Inc.
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 Evonik Industries AG
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 Royal DSM
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Eastman Chemical Company
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.4.3 Key Financial Summary
13.5 Covestro AG
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 Mitsui Chemicals Inc.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.6.3 Key Financial Summary
13.7 Exxon Mobil Corporation
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 BASF SE
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.8.3 Key Financial Summary
13.9 Clariant International Limited
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.9.3 Key Financial Summary
13.10 Huntsman Corporation
13.10.1 Business Overview
13.10.2 Product and Service Offerings
13.10.3 Key Financial Summary
Chapter 14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kp9hd9
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