The global polymer market is segmented by type into thermoplastics, elastomers and thermosets; by application into packaging, building and construction, automotive, consumer goods, electrical and electronics, agriculture and others; by product type into polyethylene, polyvinyl chloride, polypropylene, polystyrene, polyamide, polyurethane polyacrylamide and others and by regions. Federal Reserve Bank of Chicago have recorded the production rise of light weight vehicles from 2016 to 2017 in countries such as China from 26.88 to 27.54 million units, Rest of Asia from 22.21 to 22.69 million units, Europe from 22.4 to 21.57, North America from 17.73 to 16.99 million units, Latin America from 2.74 to 3.26 million units and Rest of the World from 2.47 to 2.51 million units which is thriving the polymer market to anticipate at a CAGR of 8.1% during the forecast period i.e. 2019-2027.
The rising automotive industry is thriving the market of polymer and is expected to drive the market growth at a high rate during the forecast period. The rising usage of polymer in electrical and constructional industry are escalating the demand for polymers. The low cost, high efficiency and durability of polymers are expected to drive the Polymer Market highly.
Asia-Pacific is expected to lead the polymer market owing to the high automotive industry which is driving the market demand during the forecast period. The rising innovations and technological developments are rising the demand for polymer in various other industries in this region. North America & Europe is expected to have a moderate growth in the forecast period. The rising demand for polymer is driven by automotive industry and electronic industry which is expected to showcase high demand in the market of polymer during the forecast period.
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Steady Application in Automotive Industry
Polymer are used for constructive parts in automotive vehicle bodies. The rise in high demand in the market for polymer by automotive industry is expected to raise the market growth at high rate. The high application range is dependent on its strength, durability, light weight and low cost. The various technological advancements in automotive industry are driving the demand for polymer in the market. The growing trend for light weight vehicles are subjected to use polymers as their automotive parts which is anticipated to project high growth rate in the market demand during the forecast period.
However, the various application of polymer may cause harm the environment which is creating a hindrance to the market growth further over the forecast period.
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The report titled “Global Polymer Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Polymer market in terms of market segmentation by material type, by type, by application, and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Polymer market which includes company profiling of Bayer AG, Royal DSM, Solvay Plastics, Saudi Basic Industries Corporation (SABIC), Nylene Canada Inc., BASF SE, Exxon Mobil Corp., Lanxess, China Petrochemical Corporation (Sinopec), Dow Chemicals. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Polymer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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