Global Synthetic Polymers Market Growth Analysis 2024, Forecast To 2033
8 Mar, 2024
The synthetic polymers market has exhibited robust growth, projected to climb from $31.76 billion in 2023 to $33.6 billion in 2024, with a CAGR of 5.8%, driven by industrialization and rising consumer goods manufacturing. Anticipated growth to $42.19 billion by 2028, with a CAGR of 5.9%, is fueled by the packaging industry and a focus on sustainable polymers, with trends including bio-based polymers and advanced processing technologies.
Global Synthetic Polymers Market Key Driver
Increasing residential and commercial construction activities are fueling the growth of the synthetic polymer market. Synthetic polymers are preferred in construction for their versatility, durability, and cost-effectiveness. With a significant increase in construction value and global construction output, the demand for synthetic polymers is expected to rise steadily.
Get A Free Sample Of The Global Synthetic Polymers Market ReportGlobal Synthetic Polymers Market Segments
The synthetic polymers market covered in this report is segmented –
1) Type:Styrene Acrylic, Styrene Butadiene, Acrylic, Vinyl Acetate Copolymer, Polyvinyl Acetate, Vinyl Acetate Ethylene, Other Types
2) Application:Paints And Coatings, Adhesives And Sealants, Nonwovens, Carpets, Paper And Paperboard, Other Applications
3) End User:Construction, Automotive, Electronics, Textile, Healthcare, Other End-Users
By Geography: The countries covered in the synthetic polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the synthetic polymers market in 2023. The regions covered in the synthetic polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Synthetic Polymers Industry Players
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
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Synthetic Polymers Market Overview
Synthetic polymers are large molecules of repeating units called monomers that are chemically bonded together through polymerization. These polymers are artificially created through various chemical processes and are widely used in multiple industries due to their versatility, durability, and customizable properties.