Polymer Resin Market is expected to cross USD 60 billion by 2016 with a CAGR of more than 7.2%by 2022

The Global Polymer Resin Market has seen an outstanding growth over the past few years and it has been predicted that the global market will keep on rising during the forecast period. The Polymer Resin Market is exclusively driven by the growing demand from its application segment industries such as electrical and electronic, automotive, construction, medical and consumer and industrial due to this, the growing applications are resulting in the increasing demand for Polymer Resin across the globe. The other major factors behind the growth of polymer resin market are growing application segment, increasing automotive sector, developing economies and other several factors have accelerated its worldwide demand. The Global Polymer Resin Market is projected to reach around USD 60 billion at the end of the forecasted period and is expected to grow at CAGR of 7.2% from 2016 to 2022.

Increasing demand for electrical and electronic, automotive, construction, medical and consumer and industrial, and others applications have accelerated the global demand for polymer resin. Owing to this, it has been predicted that the global market will touch a higher growth rate at the end of forecasted period. Other factors such as rising automotive industry, emerging economies, and growth of application industries are expected to drive the regional as well as global market.

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Polymer Resin Market:
The Global Polymer Resin Market has seen a notable growth over the past few years and as per MRFR analysis, the Global Polymer Resin Market is expected to cross USD 60 billion by 2016 with a CAGR of more than 7.2%by 2022. The major factors which are driving the global polymer resin market rapidly growing automotive industry and other application industries such as electrical and electronic, construction, medical and consumer and industrial. The global polymer resin market is significantly influenced by the rising trend of automotive industry which mainly comprises lower emission, light vehicles and fuel efficiency and others. Furthermore, the continuously rising number of vehicles in APAC region particularly in China, India and Indonesia is also one of the key growth drivers. Geographically, APAC is expected to lead the market followed by North America and Europe.

Scope of the Report:
The scope of the study categorizes the Polymer Resin Market as resin type and application. On the basis of resin type the market is segmented into Polystyrene (PS), Polyethylene (HDPE, LDPE, LLDPE), Polyvinyl chloride (PVC), Polypropylene (PP), PET (PET Bottle Resin) and EPS (Expandable Polystyrene). On the basis of application, it is segmented into electrical and electronic, automotive, construction, medical and consumer and industrial and other applications.

Key Players:
The key players of Polymer Resin Market report include BASF SE, Royal DSM, DuPont, Solvay Plastics, SABIC, LG Chem, Covestro, Celanese Corporation, Evonik, Bayer AG and others.

Market Research Analysis:
As per MRFR analysis, it has been projected that projected that the Polymer Resin Market would likely to achieve higher growth rate as compared to historical years. The current challenge for the market is the expensive method and fluctuating prices of crude oil. The growing population and urbanization in the emerging economies with increasing need for automotive in the region is driving the market of polymer resin over the next six years, especially in APAC.

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About Market Research Future:
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