The Business Research Company’s report on the Synthetic Polymers Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the synthetic polymers market further?
Increasing residential and commercial construction is expected to propel the growth of the synthetic polymer market going forward. Residential and commercial construction refers to constructing buildings and structures for residential and commercial purposes. It involves the planning, design, and execution of construction projects that create living spaces, offices, retail spaces, hotels, and other commercial establishments. Synthetic polymers are extensively used in residential and commercial construction due to their versatility, durability, lightweight, cost-effectiveness, and reduced maintenance. These advantages make them a preferred choice in many construction applications. For instance, in April 2023, according to Statistics Canada, a Canada-based national statistical agency, investment in building construction increased by 1.0%, reaching $20.6 billion, with positive gains observed across all components. The residential sector experienced a 1.1% rise, reaching $15.0 billion, while the non-residential sector saw an increase of 0.8%, totaling $5.6 billion. Therefore, increasing residential and commercial buildings is driving the growth of the synthetic polymer market.
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What are the key factors influencing the forecasted market size of the synthetic polymers industry?
The synthetic polymers market size has grown strongly in recent years. It will grow from $33.37 billion in 2024 to $35.16 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to industrialization and urbanization, rising consumer goods manufacturing, advancements in material science, infrastructure development, and automotive industry expansion
The synthetic polymers market size is expected to see strong growth in the next few years. It will grow to $46.08 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to the growing packaging industry, rising focus on sustainable polymers, expanding healthcare sector, and global economic recovery. Major trends in the forecast period include bio-based polymers, advanced polymer processing technologies, electrically conductive polymers, polymer blends and alloys, and medical and healthcare polymer applications.
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Who are the leading competitors in the synthetic polymers market?
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
Which emerging trends are set to transform the synthetic polymers market landscape?
Product innovations are a key trend gaining popularity in the synthetic polymers market. Major companies operating in the synthetic polymers market are developing innovative products to sustain their position in the market. For instance, in January 2022, Toray Industries Inc., a Japan-based textile material manufacturer, developed Ecodear N510 fiber. This innovative product incorporates 100 % biobased synthetic polymer content. Ecodear N510 is made from sebacic acid, which is derived from castor oil, and pentamethylenediamine, which is derived from corn. It is more sustainable, as it does not require the use of fossil fuels. It is also more comfortable to wear, as it is softer and more breathable. It is used in various applications, including clothing, textiles, and industrial products. Additionally, it provides sustainability, heat-resistant comfort, dimensional stability under humid conditions, and strong and durable performance.
How do different geographies compare in terms of market share and growth potential in the synthetic polymers market?
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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Which major segments of the synthetic polymers market are experiencing the fastest growth?
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
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How is the synthetic polymers market defined, and what are its core characteristics?
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.
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