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The global polymers market will surpass a value of $665.6 billion as of 2018, and its value is estimated to grow at a CAGR of 5.1% during the forecast period of 2019-2025. According to the recent market research report by IndustryARC titled “Polymers Market : By Type (Polypropylene, Polyethylene, Polyvinyl Chloride, Polystyrene, Polyurethane, Polyethylene terephthalate, Acrylonitrile butadiene Styrene and others); By Process (Film, Profile, Sheet, Injection Molding and Others); By End User Industry (Packaging, Building and Construction, Automotive, Consumer Goods, Electrical and Electronics, Agriculture and others) Geographic Analysis - Forecast (2019-2025).” The analyst of the report has pinpointed APAC as the key region, which generated more than 44% of the global demand as of 2018.
Browse through 154 slides and an in-depth TOC “Polymers Market (2018 - 2023)”
Global Polymers Market: Key Drivers and Trends
Polyphenylene vinylene (PPV) are polymers with technological properties. It is a long hydrocarbon to which certain side groups are attached. By electing different side groups, it is possible to set the electronic properties of the material. They conduct electric current and interact with light, which reflects a use in solar cells. As the solar power market expands on the back of governmental emphasis on renewable energy, the demand for PPV is expected to surge in the near future.
By replacing conventional materials, the building and construction industry holds priority for the adoption of polymers. Over the years, polymers have gained eminence in structural engineering applications. Polymeric material has been proven effective in variety of fields including masonry, steel, strengthening concrete, cast iron and timber structures. Growing development and expansion of more modern housing stock is propelling the demand for in the polymers market from the residential construction segment.
Packaging Industry Leads the Polymers Market During the Forecast Period:
The global polymers market for the packaging industry is growing steadily at a CAGR of around 4.1% during the forecast period, as per the IndustryARC business study. Polymer plastic is highly useful for packaging food. By preserving food in polymer packaging, food producers are able to extend shelf life of their products and reduce waste. For instance, DuPont polymer packaging resins aid packages to stay intact and secure as they are transported from manufacturing units to the dining table of intended customers.
Global Polymers Market Players: Competitive Landscape
Some of the major players operating in the polymers market include The Dow Chemical Company, LyondellBasell Industries, Exxon Mobil, SABIC, BASF, INEOS AG, Eni S.p.A., Chevron Phillips Chemical Company LLC, and LANXESS
The Dow Chemical Company- Dow offers RHOPLEX™ EC-2885 latex as a high performing, high tensile strength polymer which, when formulated into a quality elastomeric roof coating formulation, delivers hail resistance, enriched toughness and roof traffic protection while upholding tremendous elastomeric properties.
Furthermore, Dow is engaged in creating awareness for energy-efficient cool roof technology in the Middle East and was recently been recognized with prestigious ‘Construction Innovation Award 2017’ and ‘Big Project Award 2017’. Tailored PRIMAL™ EC 4642 Acrylic Emulsion Polymer is Dow’s latest binder development offering in the polymers marketplace, answering the requirements for cool roofing technology that performs reliably in such environments by delivering long-term protection against environmental degradation.
Dow Construction Chemicals experts recently developed PRIMAL™ EC-5210 PU Acrylic Polyurethane Dispersion, a new high-performance binder. As a key performance ingredient, it allows to formulate liquid applied waterproofing membranes for roofing application which offer cost efficiency as well as high performance and durability whilst also imparting a good environmental profile.
LyondellBasell- LyondellBasell advances packaging with New Moplen Impact Enhanced Polypropylene Grade, one of the world's largest chemicals, plastics, and refining companies. It is bringing the new Moplen HE745T to the market, a high flow, nucleated polypropylene (PP) homopolymer that has been enhanced to provide better impact resistance for housewares and packaging applications. This new evolution in the polymers market provides stiffness and impact performance balance that allows the production of thinner-walled products such as storage containers and media boxes.
In these applications, Moplen HE745T will allow manufacturers to consume less material but still meet the challenging requirements for use as transport or storage-resistant, attractive-looking containers for commercial or household uses. In addition, new polypropylene variants such as Moplen HE745T protect the environment and avoid waste by letting for lower energy requirements in processing and reduced resource consumption.
LyondellBasell’s PP (polypropylene) compounds are found nearly all modern vehicles and significantly contribute to improved fuel efficiency and the ability of automobile manufacturers to comply with strict environmental standards for car interiors. LyondellBasell PP compounds can help to:
Reduce vehicle weight by using flow materials, which allow a reduction in wall thickness without conceding on mechanical properties.
Using a soft touch polypropylene compound, provides a pleasant experience in door panels, trims and handles for interior applications.
ExxonMobil- ExxonMobil, another giant in the polymer market, started detailed engineering work on a potential U.S. Gulf Coast project to expand polypropylene manufacturing capacity by up to 450,000 tons a year to meet the growing demand for lightweight and high-performance plastics. These polypropylene materials are the key to reduce vehicle weight, which helps to improve fuel efficiency and reduce carbon emissions. It is an adaptable material providing high impact resistance and high stiffness to lightweight applications.
SABIC- SABIC is the prestigious Best Polymer Producer Award winner in the category of Polypropylene at an award ceremony held in conjunction with the European Plastics Converters (EuPC) Annual Event on 1 June 2017 in Madrid, Spain. SABIC’s PS (polystyrene) 100 is a general purpose PS manufactured by continuous mass polymerization of styrene monomer. It is a crystal-like, brittle and hard polymer with good flow properties and high clarity. It is designed for medium and thin wall thickness articles and gives a wide processing window for molding applications.
BASF- BASF Polyurethanes is the leading supplier of polyurethane basic products, systems and specialties. More than 50 years of experience prompt technology expertise of the market for specialty elastomers and polyurethane systems in Europe. BASF polyurethane is used in many building components: as insulation in walls, roofs, and floors, as foams and sealants around doors and windows, as binders to produce MDF (Medium Density Fiberboard) and OSB (Oriented Strand Board) sheets, as waterproof protective coatings.
The food and beverage industry has been utilizing polymers since ages but the advent of eco-friendly alternatives has further added to the prosperity of the polymers market. Additionally, polymers are used in various other industries such as building and construction, automotive, and electronics due to its corrosion resistant and durability, attributes the growth of the polymers market for profitable future
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