Recent trend observed in the global polymer market is increasing demand for polymers in different industries, including building and construction, packaging, consumer goods, electronics and telecommunication, and automotive. These industries are primarily substituting paper, glass, and metals with polymers, owing to their low weight and cost.
Polymers are basically heavy molecules that are made with a combination of simple units of molecules called monomers. The properties of these compounds depend upon their bonds as well as the length of the chain. They are both natural and synthetic in nature. The natural ones are made of natural substances like rubber, resins, and gums, whereas the synthetic ones are manufactured by polymerization of several monomers.
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On the basis of type, the polymer market is categorized into thermoplastics, thermosets, and elastomers. Among these, the thermosets category holds the maximum share in the market, owing to its superior properties. For example, thermosets are harder as compared to others, stronger as the strength between their covalent bonds is high, and they cannot be broken easily.
Based on product, polymer market is classified into polyethylene, polyvinyl chloride, polypropylene, polystyrene, polyamide, polyurethane, and polyacrylamide. The most widely used product in the market is polyethylene due to its various usage in packaging industry such as packaging of juices and milk, and consumer goods; and in fiber and textile industry for manufacturing of apparels.
Major factors driving the growth of the polymer market are increasing demand for the compounds from electronics and electrical sector, need for light weight automotive, and superior properties. Polyphenylene sulphide, nylon 46, polythiazide, and polycyclohexylenedimethylene terephthalate are the major forms of polymers that are used in the electrical and electronics industry.
Some of the major players operating in the global polymer market include 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.
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The study provides the historical as well the forecast market size data for various countries including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.
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