GLOBAL SYNTHETIC POLYMERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The global synthetic polymers market is estimated to be valued at USD 24.97 Bn in 2024, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. The global synthetic polymers market has witnessed substantial growth over the past few decades. Synthetic polymers, also known as man-made polymers, are chain-like organic polymers that are extensively used across diverse end-use industries such as packaging, automotive, construction, and healthcare among others. Wide industrial applications along with properties like versatility, durability, and flexibility have rendered synthetic polymers as an integral part of modern life. An exponential increase in the demand from fast expanding end-use markets along with technological advancements in polymer materials have been primarily responsible for market growth. However, environmental concerns associated with plastic waste could potentially hamper the adoption of synthetic polymers going forward.

 Market Dynamics:

The global synthetic polymers market has been growing considerably over the past decade, driven by factors such as booming end-use industries, product innovation, and increasing consumption in emerging economies. However, the market has also been facing restraints from stringent environmental regulations on plastic waste disposal and recycling. Ongoing technological advancements for developing bio-based and biodegradable polymers present high growth opportunities for sustainable market expansion. Major players are investing in R&D to introduce novel materials with superior properties and reduced environmental footprint. The COVID-19 pandemic negatively impacted the market initially due to disruptions in supply chains and manufacturing activities worldwide.

 Key Features of the Study:

• This report provides an in-depth analysis of the global synthetic polymers market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global synthetic polymers market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include, BASF SE, Alberdingk Boley, 3M, Celanese Corporation, Dow, Asahi Kasei Corporation, Trinseo, Wacker Chemie AG, LG Chem, Lubrizol Corporation, Apcotex Industries Limited, Arkema, OMNOVA Solutions Inc., Nouryon, APL, and Arlanxeo
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global synthetic polymers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global synthetic polymers market

Detailed Segmentation-

• By Type:
• • Styrene Acrylic
  • Acrylic
  • Vinyl Acetate Copolymer
  • Polyvinyl Acetate
  • Vinyl Acetate Ethylene
  • Others
• By Application:
• • Paints and Coatings
  • Adhesives and Sealants
  • Nonwovens
  • Carpets
  • Paper and Paperboard
  • Others
• By End Use Industry:
• • Construction
  • Automotive
  • Electronics
  • Textile
  • Healthcare
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • BASF SE
  • Alberdingk Boley
  • 3M
  • Celanese Corporation
  • Dow
  • Asahi Kasei Corporation
  • Trinseo
  • Wacker Chemie AG
  • LG Chem
  • Lubrizol Corporation
  • Apcotex Industries Limited
  • Arkema
  • OMNOVA Solutions Inc.
  • Nouryon
  • APL
  • Arlanxeo