Polymers Market Witnessing Significant Demand from 3D Printing Industry

The global polymers market valued at $666.5 billion in 2018. Moreover, it is estimated to grow with a CAGR of 5.15% during the forecast period of 2019-2025.

Hyderabad, India – July 6, 2019 /MarketersMedia/ —

Polymer is one of the widely used chemical products in almost all the sectors such a medical, aerospace, packaging, automotive, construction, electrical appliances, and medical sector, and consequently, the global polymers market is thriving. Polymers are used widely as a substitute of metal and mineral based products due to its high performance, cost-effectiveness, and low weight. As per the evaluations of a new marketscape report by IndustryARC, the global polymers market size valued at $666.5 billion in 2018. Moreover, it is estimated to grow with a global compound annual growth rate (CAGR) of 5.15% during the forecast period of 2019-2025. The report is titled Polymers Market which covers Polymers Market Size by Product and applications, Polymers market share by top 5 companies and also the market share by start-ups during the forecast period.

Global Polymers Market: Leading Segments
APAC generated the highest demand for polymers in 2018. Economic growth of the region along with emerging electronics and automotive industry are boosting the polymers market value. The region held the share of 45% in 2018 and with urbanization, the demand and market value is expected to boost further over the years.
Increase in the retail sector and prospering e-commerce industry is demanding for more packaging material that is influencing the significance of the polymers market. Moreover, several other industries such as pharmaceuticals, food and beverages, and electronics require plastic and polymers for packaging components. The application segment is projected to grow with a moderate CAGR of 4.10% through to end period.

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Global Polymers Market: Growth Drivers and Trends
Demand for polymers from different industries including automotive, construction, packaging, electronics and consumer goods are primarily due to rising trend for low weight and cost material. The polymers are observed to be the better substitutes than glass, and metals that is leveraging the polymers market.

To enhance the properties of the polymers, the specialty polymers additives are used to gain the desired properties out of polymers. The increasing demand for specialty polymers are fueling the growth of the polymers market.

Thermoplastic polymers segment type of polymers offers flame resistance and heat resistance. Growing demand for polymer in the electronic industry for the manufacturing of different electrical parts such as switches and sockets are driving the polymer market.

Growing demand for polymers to manufacture medical implants, disposable tools, gloves, vials, and in packaging is accelerating the growth prospects of the polymers market.

Polymers recycling is one of the factors that drives the growth of the polymers market. More and more recycling of plastics reduces the plastic waste.

Bio-based plastic and polymers are gaining prominent growth. The factor such as high degree of recyclability, cost-effectiveness are experiencing high adaptation rate, especially from the packaging sector.

Progression in 3D printing is improving the growth aspects of polymers and plastic manufacturing. The changing preference of consumers from metal 3D printing to plastic material 3D printing is leading to substantial growth in the polymers market.

Global Polymers Market: Competitive Landscape
The leading players in the polymers market are BASF SE, Lanxess AG, DowDupont. Inc., Braskem AG, Ashland, Croda, Evonik Industries, PolyOne, Ineos, Rhodia, Exxon Mobil Corporation, Chevron Corporation, LG Chem Ltd., SABIC, Lyondell Basell.

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Related Reports:
a. Plastic Polymers Market
https://www.industryarc.com/Report/16091/plastic-polymers-market.html

b. High Performance Polymers Market
https://www.industryarc.com/Report/11659/high-performance-polymers-market.html

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