Press release
Synthetic Polymers Market is Anticipated to Expand upto $45.06 Billion in 2029
Synthetic Polymers Maket
What Is the Forecasted Market Growth Rate of the Synthetic Polymers Industry?
In previous years, the synthetic polymers market has seen consistent growth. The market size is projected to increase from $33.37 billion in 2024 to $34.69 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 3.9%. The expansion observed in the past is linked to factors such as industrialization, urbanization, increased production of consumer goods, developments in the realm of material science, improvements in infrastructure, and growth in the automotive industry.
How Will the Synthetic Polymers Market Size Evolve From 2025 to 2029?
Anticipated strong expansion is on the horizon for the synthetic polymers market, with its value projected to reach $45.06 billion in 2029, marking a compound annual growth rate (CAGR) of 6.8%. This possible surge is linked to factors such as the escalating packaging industry, increasing importance of sustainable polymers, the burgeoning healthcare sector, and worldwide economic recuperation. Anticipated trends for this period comprise bio-based polymers, cutting-edge polymer processing technologies, electrically conductive polymers, polymer blends and alloys, plus applications of polymers in the medical and healthcare sector.
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What Are the Main Growth Drivers in the Synthetic Polymers Market Today?
The synthetic polymer market is projected to expand with the increase in residential and commercial construction activities. Constructing buildings and other structures for residential and commercial uses is what makes up residential and commercial construction. The process encompasses planning, designing, and carrying out construction tasks that result in living accommodations, offices, retail areas, hotels, and other commercial infrastructures. Synthetic polymers, owing to their adaptability, longevity, light weight, cost-efficiency, and low upkeep, are widely utilized in this sector. This makes them an attractive option for various construction practices. For example, Statistics Canada reported in April 2023 that the investment in building construction surged by 1.0% to reach $20.6 billion which positively impacted all constituents. The residential segment observed an increase of 1.1%, amassing $15.0 billion, while the non-residential portion grew by 0.8%, amounting to $5.6 billion. Therefore, the surge in the number of residential and commercial structures is a primary driving factor for the synthetic polymer market's expansion.
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Which Synthetic Polymers Market Segment Is Expected to Lead Through 2029?
The synthetic polymers market covered in this report is segmented -
1) By Type: Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene, Other Types
2) By Application: Paints And Coatings, Adhesives And Sealants, Nonwovens, Carpets, Paper And Paperboard, Other Applications
3) By End User: Construction, Automotive, Electronics, Textile, Healthcare, Other End-Users
Subsegments:
1) By Styrene Acrylic: Styrene Acrylic Emulsions, Styrene Acrylic Resins
2) By Styrene Butadiene: Styrene Butadiene Rubber (SBR), Styrene Butadiene Latex
3) By Acrylic: Acrylic Resins, Acrylic Polymers
4) By Vinyl Acetate Copolymer: Vinyl Acetate Ethylene Copolymer, Vinyl Acetate Butyl Acrylate Copolymer
5) By Polyvinyl Acetate: Polyvinyl Acetate Emulsions, Polyvinyl Acetate Films
6) By Vinyl Acetate Ethylene: Vinyl Acetate Ethylene Emulsions, Vinyl Acetate Ethylene Copolymers
7) By Other Types: Polyurethane, Polyethylene, Polypropylene, Other Specialty Polymers
Which Market Trends Are Expected to Dominate Synthetic Polymers Industry Growth?
A primary trend making waves in the synthetic polymers market is product innovation. To hold their ground in the market, major organizations involved in the synthetic polymers segment are focusing on the creation of novel products. For example, Toray Industries Inc., a textile material production company based in Japan, sculpted a new product named Ecodear N510 fiber in January 2022. Integrated with 100% biobased synthetic polymer content, this revolutionary product is manufactured using sebacic acid from castor oil and pentamethylenediamine from corn. Not needing fossil fuels for its production, Ecodear N510 is softer, more breathable and consequently, more comfortable to wear. Apart from clothing, textiles, and industrial products, its uses span several other areas. Besides, it delivers heat-resistant comfort, endures humid conditions, and boasts of robust and long-lasting efficacy while furthering sustainability.
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Which Companies Hold the Largest Market Share in the Synthetic Polymers Sector?
Major companies operating in the synthetic polymers market include ExxonMobil Chemical, Sumitomo Chemical Co. Ltd., Dow Inc., SABIC, LG Chem Ltd., 3M Co, Mitsubishi Chemical Corporation, Evonik Industries, Toray Industries, Solvay SA, Chevron Phillips Chemical Company, DuPont, Arkema SA, Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Huntsman Corporation, Lubrizol Corporation, Kuraray, Trinseo LLC, Asahi Kasei Corporation, ZEON Corporation, Kraton Corporation, BASF SE, OMNOVA Solutions Inc., Apcotex Industries Limited., Lion Elastomers LLC, Alberdingk Boley GmbH
Where Is the Synthetic Polymers Market Experiencing the Highest Growth?
Asia-Pacific was the largest region in the synthetic polymers market in 2024. The regions covered in the synthetic polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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