[Online Quarterly Update]Global Polymer demand stood at 259.52 Million Tonnes in 2020 and is forecast to reach 428.59 Million Tonnes by 2030, growing at a healthy CAGR of 5.52% until 2030. Augmenting demand for material with high tensile strength, resilience, and thermal expansion in end-use industries like construction, packaging, electronics, and automobile has strongly contributed towards the growth of global polymer market in the last 5 years.
Polymer compounds have been segmented into three types-thermosets, elastomers, and thermoplastics. Owing it its ideal remolding and reshaping capabilities, thermoplastics encompass majority of the consumption share in the global market. In 2019, the construction industry held the maximum consumption share of polymers across the globe, backed by increasing number of residential, commercial, and smart-building projects. Future of global polymer market appears promising as its consumption from the food packaging industry has been escalated after the onset of coronavirus in 2020.
Due to the outbreak of COVID-19 in 2020, the world economy was disrupted. The market was affected drastically, and production and manufacturing units were shut down. Furthermore, the major market players intentionally halted the production keeping their employee’s health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions, the market is anticipated to regain its growth in the years top come. The pandemic is slowly being subsided and the effects are tried to be overcome by various methods. Once the market regains the full function of its production unit, the market is bound to show a robust growth in the forecast period.
In line with the foresight outlook, several new manufacturers emerged in the global market to secure appreciable revenue amidst its substantial demand. Amidst the fast-paced growth of plastic products, a few renowned companies have announced expansion of their existing polymer capacities in the upcoming 5 years. Since crude-based polymers still pose a threat to environment, several organizations have come up to produce bio based and eco-friendly polymer materials having identical properties. Furthermore, manufacturers are also upgrading their technologies to enhance the yield, quality and affordability of polymer materials. As of 2019, some of the leading manufacturers operating in global polymer market include Shell Chemicals, Dow, Formosa Plastics, Westlake, Sasol, Total S.A., Reliance Industries Limited, Covestro AG and others. Contrary to other sectors, polymer compounds are likely to witness a steep growth in the coming years, thus providing vivid opportunities for new players to emerge in the market.
Majority of the consumption of Polymers has been adhered by Asia Pacific region owing to consistent increment in its downstream capacities by developing countries like India and Japan. In addition, rapid expansion of electrical and electronic sector is also driving the demand for polymer plastics in the Asia-Pacific region. Continuous increment in production capacities of Polymers is aided by the prohibition and stringent measures on new capacity additions in the western region, which has compelled several companies to establish their production base in the Asia Pacific region.
Years Considered for this Report:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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Objective of the Study:
• The primary objective of the study was to evaluate and forecast Polymer capacity, production, demand, inventory, and demand–supply gap globally.
• To categorize Polymer demand based on product type, application, region and distribution channel.
• To identify major customers of Polymer globally.
• To evaluate and forecast Polymer pricing globally.
• To identify and profile major companies operating globally Polymer market.
• To identify major news, deals and expansion plans globally Polymer market.
Some of the major players operating global polymer market are LyondellBasell Industries N.V., Shin-Etsu Chemical Corporation Limited, Nan Ya Plastics Corporation, SABIC, Covestro A.G., Total S.A., Borealis AG, Braskem, Formosa Plastics Corporation, Reliance Industries Limited, Dow Incorporation, Indian Oil Corporation Limited, PTTGC and others. Increasing investments in the downstream electrical and electronics sector followed by packaging sector would further augment the growth of the market in the foreseeable future.
Polymer prices are highly susceptible to the volatility of upstream crude oil. The vivid fall in crude prices during H1 2020 was appreciably counterbalanced by the demand for polymers from plastic packaging and healthcare industry amidst the peak of Coronavirus pandemic.
To extract data for Global Polymer market, primary research surveys were conducted with Polymer manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Polymer market over the coming years.
ChemAnalyst calculated polymer demand globally by analyzing the historical data and demand forecast which was carried out considering imported crude prices which is an upstream for polymer product. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience
• Polymer manufacturers and other stakeholders
• Organizations, forums and alliances related to Polymer distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Polymer manufacturers, distributors, and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the Global Polymer market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by Product Type
Polyethylene, Polypropylene, Polyvinyl Chloride, Polyurethane, Polyethylene Terephthalate, Polystyrene, and Others
Market, by Application
Packaging, Building and Construction, Automotive, Electrical and Electronics, Household, Agriculture, and Others.
Market, by Distribution Channel
Direct/Institutional Sales, Indirect Sales
Market, by Region
North America, APAC, Europe, MEA, South America
• North America: United States, Mexico, Canada
• APAC: China, India, Japan, South Korea, Australia
• Europe: Germany, France, United Kingdom, Spain, Italy
• MEA: Saudi Arabia, UAE, South Africa
• South America: Brazil, Argentina, Colombia
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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