Polymers Market Size & Share, by Type (Thermoplastics, Elastomers Thermosets); Application (Packaging, Building & Construction, Automotive, Consumer Goods, Electrical & Electronics, Agriculture); Product Type (Polyethylene, Polyvinyl Chloride, Polypropylene, Polystyrene, Polyamide, Polyurethane, Polyacrylamide) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 1387
  • Published Date: Jul 29, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Polymers Market size is projected to cross USD 1436.48 Billion by the end of 2035, witnessing around 5.9% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of polymers was over USD 734.56 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 Market
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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.


  • 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

Base Year


Forecast Year



~ 5.9%

Base Year Market Size (2022)

 ~ USD 734.56 Billion

Forecast Year Market Size (2035)

 ~ USD 1436.48 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa
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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 2035. 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:


  • Thermoplastics
  • Elastomers Thermosets


  • Packaging
  • Building & Construction
  • Automotive
  • Consumer Goods
  • Electrical & Electronic
  • Agriculture

           Product Type

  • Polyethylene
  • Polyvinyl Chloride
  • Polypropylene
  • Polystyrene
  • Polyamide
  • Polyurethane
  • Polyacrylamide

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Polymers Industry - Regional Synopsis

APAC Market Forecast

The polymers market in the Asia Pacific is estimated to have the highest revenue with a 30% 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.

Research Nester
Polymers Market Size
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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:  Smruti Ranjan, Rajrani Baghel

  • Report ID: 1387
  • Published Date: Jul 29, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factor driving the growth of the market is an increase in the automotive and construction industries.

The market size of Polymers is anticipated to attain a CAGR of 5.9% over the forecast period, i.e., 2023-2035.

The major players in the market are Royal DSM, Solvay Plastics, Nylene Canada Inc., BASF SE, Exxon Mobil Corp., Lanxess, and others.

The thermoplastics segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Polymers Market Report Scope

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