Global Homopolymers Market Size, Growth, Share & Trends Analysis Report 2030

Homopolymers Market Size and Share:

Reports & Insights predicts that the global Homopolymers Market is expected to grow at a CAGR of 4.5% during the forecast period from 2022 to 2030. Furthermore, the total value of the global homopolymers market is slated to reach US$ 87.3 Bn by 2030, rising from US$ 61.4 Bn in 2022.

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Polymers called homopolymers are created from a single type of monomer. The need for homopolymers is increasing, which is also helping the industry. The market for homopolymers is also being driven by a number of emission standards established by the government and severe environmental rules to reduce carbon emission. Utilizing homopolymers reduces the component's weight, which in turn improves fuel efficiency.

Homopolymers Market Dynamics:

The huge need for homopolymers in the packaging industry is what essentially drives the market for them. The need for homopolymers is increasing, which is good for the industry as a whole. The demand for homopolymers is also being fuelled by the government's strict environmental rules as well as a number of emission limits intended to reduce carbon emissions. The component's weight can be reduced by employing homopolymers, improving fuel efficiency. The market for homopolymers resins is anticipated to expand as a result of advancements in the healthcare industry and industrial infrastructure. Yet, copolymers are becoming more and more acceptable among automakers due to their superior heat conductivity and increased endurance. The market for homopolymers is severely hampered by this. Huge opportunities will be presented for players in the worldwide homopolymers market by the expansion of the packaging industry, the automotive industry, the advancement of the healthcare sector, and the industrial infrastructure.

Homopolymers Market Regional Outlook:

The market for homopolymers can be divided geographically into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.

According to estimates, Asia Pacific will soon account for a sizable portion of the worldwide homopolymers industry. According to predictions, China and India will dominate the regional homopolymers market.

Due to the strong demand for homopolymers in the automotive industry and technical developments in the materials utilized, the market in Asia Pacific is anticipated to grow. Throughout the projected period, it is anticipated that the market in Europe and North America would rise steadily. The homopolymers market is expanding across the Middle East and Africa. Latin American markets are anticipated to grow gradually.

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Homopolymers Market Key Players Analysis:

The Dow Chemical Company, L.C.Y. Chemical Corporation, IRPC Public Company Limited, The Polyolefin Company (Singapore) Pte Ltd., National Petrochemical Industrial Company, Braskem S.A., Ronald Mark Associates, Inc., ExxonMobil, I. Stern & Co., LyondellBasell, Entec Polymers, SCG Chemicals Co., Ltd., Birch Plastics Inc., DuPont USA and Formosa Plastics are important companies that operate in the global homopolymers market.

Recent Key Developments by Key Players:

With the intention of creating circular food-grade recycled polypropylene (FGrPP) from post-consumer packaging, LyondellBasell unveiled NEXTLOOPP on July 18, 2022.
In October 2019, Braskem, the largest producer of polyolefins in the Americas and the top producer of biopolymers globally, launched I'm greenTM Recycled Polypropylene (PP) in the US.
The Mitsubishi Chemical Corporation planned to buy every foreign producer of polypropylene (PP) compounds that was a part of its joint venture with Japan Polypropylene in April 2021.
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Homopolymers Market Segmentation Outlook:

The global market for homopolymers is divided into segments based on grade type, form, end user industry, and geography

Depending on their intended purpose, homopolymers can be categorised into the following industries: automotive, medical, packaging, textile, electrical & electronics, building & construction, and other. In the automotive sector, homopolymers are primarily used to reduce weight and increase fuel efficiency. Packaging is the most significant end-use industry for homopolymers.

The purpose of this report on the global homopolymers market is to discuss market dynamics such as market drivers, market trends, potential threats and challenges to the homopolymers market, opportunities for the key players in this market, market segmentation outlook, regional outlook, homopolymers market forecast, and the key players analysis who are operating in the homopolymers market globally.

Reports and Insights has set forth a standard in the market research and consulting industry by way of delivering our clientele with syndicated as well as customized market research reports that covers the entire market's assessment in conjunction with thorough foresights.

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This release was published on openPR.