Global Polymer Market – Industry Analysis, Size, Trends, Growth, Share and Forecast 2023by Deepak Kumar Sr. SEO Executive
The global polymer industry experienced robust growth over the last five years, and is expected to grow during forecast period. The demand for polymers is driven by the growth in end-user market, increasing plastic consumption, and increasing demand for essential light weight and significant low cost materials, as compared to its alternative.
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Polymers are replacing metals, glass, paper and other traditional materials in various applications, due to their strength, design flexibility, along with low cost. The increasing applications of polyethylene in automotive and packaging industry, increasing dependency on PVC in bottling of beverages, indicates that the polymer sector will witness more demand from these industries during forecast period.
Polymers are high weight molecules made of reposted chemical units called monomer. The property and quality of polymer depends upon the interaction bonds, additives, and length of polymer chain. Polymers are natural, as well as synthetic in nature.
The polymer market is expected to grow at an exponential rate during the forecast period. In 2014, North America accounted for the major share in the global polymer market, followed by Asia-Pacific. Asia-Pacific is projected to be the fastest growing market for polymers during the forecast period.
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The key strategies followed by companies in the industry include innovation and product development, and focus being on delivering solutions and value to customers. Some of the key players in the segment include Bayer AG, Dow Chemicals, Saudi Basic Industries Corporation (SABIC), Nylene Canada Inc., BASF SE, Exxon Mobil Corp., Lanxess, and China Petrochemical Corporation (Sinopec).
Created on May 9th 2018 03:36. Viewed 631 times.