Polymer Market for Waste Management Size, Share, Growth and Trend Analysis Report
by Susan Hill Business ConsultantThe
global polymer market for waste management size is
expected to reach USD 5.07 billion by 2025, according to a new report by Grand
View Research, Inc. The market is estimated to expand at a decent CAGR of 4.0%
over the forecast period. Several characteristics of polymer resins, including
good welding strength, chemical resistance, and excellent low-temperature
performance, in waste management processes are expected to drive the industry.
Polyvinyl Chloride (PVC) is one of the key raw materials used for manufacturing
plastic-based flexible packaging materials.
The demand
of polyvinyl chloride is highly dependent on the construction industry, as
about 60 to 70% of the global demand is for pipe, siding, fitting, fencing,
windows, and other applications. Increasing product demand from other end-use
industries may result in tight raw material supply, hampering market growth.
Polypropylene and polyethylene are thermoplastic polymers used in a variety of
applications. Growth in the manufacturing and construction industry has been
driving the polypropylene market over the past few years; however, its
overproduction has led to a decrease in prices.
Rapidly
expanding construction sector in India and China, on account of the presence of
favorable regulatory support to improve the infrastructure at a domestic level,
is expected to boost the utilization of geomembranes.
This, in turn, is likely to augment the demand for polymers for waste
management in this sector. Asia Pacific is expected to witness a rise in
construction spending over the forecast period on account of rapid urbanization
coupled with burgeoning population. Thus, growing construction sector,
particularly in China and India, as a result of increasing disposable income
and rising government spending on large infrastructural projects will support
the market development.
Further key
findings from the study suggest:
- In terms of
revenue, Ethylene
Propylene Diene Monomer (EPDM) is projected to ascend at a CAGR of
5.8% over the forecast period
- Low-density
Polyethylene (LDPE) is projected to exhibit a significant growth during
the forecast years
- Asia Pacific
led the global polymer market for waste management in 2017 and is
projected to continue the trend over the next few years
- Growing awareness
about the usage of engineering polymers in the construction industry is
likely to open new growth opportunities for the regional market
- Some of the
prominent companies in the global market are ExxonMobil Corporation, E. I.
du Pont de Nemours and Company, BASF SE, LyondellBasell Industries N.V.,
and Formosa Plastics Corporation, U.S.A.
- Most of these industry participants are undertaking various initiatives, such as investments for capacity expansion, to maintain the market position
Access full
research report on global polymer market for waste management:
www.grandviewresearch.com/industry-analysis/polymer-market-for-waste-management
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Created on Oct 29th 2019 02:34. Viewed 362 times.