Polymer Market Analysis, Drivers, Trends, Challenges & Forecast by 2024

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. In this report, the polymer market is segmented on the basis of type, product, application, and region.

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On the basis of application, the polymer market is categorized into packaging, electronics, food, petrochemicals, healthcare, building and construction, electronics and communication, and transportation. Among these, the packaging application holds the maximum share in the market, as packaging involves in every sphere of life, which includes food packaging, pharmaceuticals packaging, medical packaging, and others.

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. These can withstand high temperature and can also withstand surface mount technology, making them most preferable in the market. The compounds can reduce weight of automobile to a substantial amount, which in turn, would result in better fuel efficiency of the automobile.

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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.

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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