Asia Pacific to Dominate Polymers Market During Forecast Period

Growing demand for polymers from packaging and automotive industry to drive the growth of global polymers market during the forecast period

According to TechSci Research report, “Global Polymers Market By Type, By Product, By Application, By Region, Competition, Forecast & Opportunities, 2025”, global polymers market is expected to grow steadily over the forecast period on account of surging demand for the polymer compounds from electronics and electrical sector, need for light weight automotive parts, and other superior properties. Major forms of polymer such as polyphenylene sulphide, nylon 46, polythiazide and others can withstand high temperature as well as can be used in surface mount technology, which makes them most preferable in the current polymers market. These polymer compounds can also reduce automobile weight to a substantial amount, resulting in better fuel efficiency. These attributes are estimated to boost the growth of global polymers market over the coming years. However, stringent regulations by the regulatory bodies of various governments can act as a major impediment to the growth of global polymers market in the years to come. For instance, in December 2018, the European Union banned the usage of single use plastics as they take 1,000 years to decompose and cause a lot of environmental pollution.

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Global polymers market can be segmented based on type, product, application and region. Considering the type, the market is segmented into thermoplastics, thermosets and elastomers. The thermosets type held the largest market share until 2019 is estimated to contribute major revenue share to global polymers market, which can be attributed to its to superior properties as it is harder and stronger when compared to others, therefore cannot be broken easily. Moreover, it offers better stability than thermoplastics or elastomers, which is projected to drive the segment growth through 2025.

DuPont de Nemours, Inc., SABIC, LyondellBasell Industries N.V., Exxon Mobil Corporation, BASF SE, INEOS AG, Eni S.p.A., Chevron Phillips Chemical Company LLC, LANXESS Corporation, Covestro AG among others are the leading players operating in global polymers market.

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“Asia-Pacific dominated the market until 2019 and is forecast to maintain its dominance during the next 5 years as well on account of economic growth of the Asian countries. In addition to this, surging growth of the electronics market in India coupled with developing infrastructure industry in China are some of the other major factors, because of which the global polymers market is expected to rev up during 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Polymers Market By Type, By Product, By Application, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global polymers market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global polymers market.

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