Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Polymers Market size was over USD 760.36 billion in 2024 and is anticipated to cross USD 1.51 trillion by 2037, witnessing more than 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of polymers is assessed at USD 827.47 billion.
With the increasing number of cars using advanced sensor systems, there is tremendous growth in the polymer market. The advancement in the automotive industry has led to the development of light sensors, that are used in lightweight vehicles. As per the International Energy Agency, the sale of electric light commercial vehicles across the globe surged by more than 70 % in the year 2021.
Furthermore, polymers play a critical role in lowering the energy consumption. Also, they have become a valuable material that is used for the generation of electricity, and its storage. Several studies are going on in relation to the use of polymers for fuel cells, and supercapacitors batteries.
Polymers Sector: Growth Drivers and Challenges
Growth Drivers
- Rising Demand for Polymers- Polymers can be used as a substitute for many substances such as metals, glass, paper, etc owing to their strength, flexibility, and low cost. It has various applications in different end-user industries owing to its advantageous characteristics.
- Increasing Use in Household Products- Products made of a polymer such as PVC bottles and containers, that are used for household purposes in the kitchen are expected to witness demand during the forecast period.
- Recyclability of Polymer Materials- The chemical, and mechanical ways are used for recycling the polymer materials. It also assists manufacturers in lowering their manufacturing costs.
- Growing Use of Biological Resources- Bio-based polymers consist of renewable carbon components, thus, leading users to shift to biomaterials rather than conventional substances, such as fossil fuels. For instance, more than 14 billion metric tons of fossil fuels are used every year across the globe.
Challenges
- Effect on the Environment- Ordinary plastic has a damaging impact on the environment, though it is lightweight, strong, and corrosion-resistant are widely used. Moreover, they are less expensive than the other metals, and materials. Hence, the dependency of end users on ordinary plastics is estimated to hamper the market’s growth.
- Stringent Regulations by the Government
- COVID-19 Pandemic Severely Attacked the Polymer Market.
Polymers Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.4% |
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Base Year Market Size (2024) |
USD 760.36 billion |
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Forecast Year Market Size (2037) |
USD 1.51 trillion |
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Regional Scope |
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Polymers Segmentation
Type (Thermoplastics, Elastomers Thermosets)
The thermoplastics segment is predicted to hold 65% share of the global polymers market in the upcoming years. The increasing demand for thermoplastics is a result of their cost effectiveness, ease of production in food sector, and excellent strength. Furthermore, this sector is also used in other scopes such as the construction of lightweight models, storage tanks, panels, and frames. They are also used in different other applications like food containers, automotive, medical devices, etc owing to their favorable properties. In medical devices, PVC is the only polymer with significant use, and in Europe and around the world, PVC has a market share of 27% and 26% respectively.
Application (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, Agriculture)
The packaging segment in the polymers market is anticipated to hold the largest revenue share of 40 % by the end of 2036. There has been an increase in the demand for materials for the production of food and beverage packaging. In order to lessen the risk of quality loss, and contamination, the manufacturers are using packaging that is effectual. As per the analysis, edible grocery sales are predicted to increase by 550 Billion in the United States by 2026.
Product Type (Polyethylene, Polyvinyl Chloride, Polypropylene, Polystyrene, Polyamide, Polyurethane, Polyacrylamide)
The Polyethylene segment is set to garner a market gain of 25 % during the forecasted timeframe. This can be impelled by the increasing demand for the product from the different end-use sectors. Furthermore, the rising demand for HDPE and LDPE in food and beverages industries such as milk, juices, and other products. More than 11 million tonnes of HDPE have been processed worldwide in film and sheet extrusion in the year 2018.
Our in-depth analysis of the global market includes the following segments:
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Type |
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Application |
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Product Type |
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Customize this ReportPolymers Industry - Regional Synopsis
APAC Market Forecast
The polymers market in the Asia Pacific industry is set to hold largest revenue share of 30% by 2037, share in the market throughout the forecasted period. With the developing economies of the nations, disposable income, low cost of raw materials, and rise in the population are all reasons driving the market’s expansion in the particular region. Moreover, owing to the continuous expansion by developing countries such as India and Japan, the consumption of polymers will also be increased. Also, the increasing awareness related to environment-friendly substitutes is surging the demand for polymers in the region.
North America Market Statistics
The North America region is expected to have a 28% share of the polymers market in the forecast period. Increasing needs for polymers in many sectors such as aircraft, construction, and others are driving the demand for polymers including water-soluble polymer in the region. The growing investment by the government related to the construction industry in the North American region is further anticipated to contribute to the growth of the market in the region. For instance, Texas states have boosted the state’s construction pipelines to over USD 400 Billion, as per the report in 2019.
Companies Dominating the Polymers Landscape
- Dow Chemicals
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Bayer AG
- Royal DSM
- Nylene Canada Inc.
- BASF SE
- Exxon Mobil Corp.
- LyondellBasell Industries N.V.
- Lanxess
- Avient Corporation
- China Petrochemical Corporation (Sinopec)
In the News
- A $2 billion transaction was announced by LyondellBasell Industries N.V., a multinational plastic and chemical firm, to purchase 50% of Sasol's 1.5 million metric ton ethane cracker, 0.9 million ton low and linear low density polyethylene units, and related infrastructure. The transaction would be carried out through a 50:50 joint venture between LyondellBasell Industries and Sasol, an integrated energy and chemical firm with headquarters in Sandton, South Africa.
- Avient Corporation, a provider of specialized and sustainable material solutions and services has announced the expansion of its Mevopur bio-based medical grade polymer solution line. The bio-based polycarbonate, ABS, or styrene polymers are used in the new color and additive concentrates and tailored ready-to-use formulations.
Author Credits: Rajrani Baghel
- Report ID: 1387
- Published Date: Dec 20, 2024
- Report Format: PDF, PPT
