Synthetic Polymers Market to Grow with a CAGR of 4.78% Globally through 2029

Surge in research and development activities is expected to drive the Global Synthetic Polymers Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “Synthetic Polymers Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Synthetic Polymers Market stood at USD31.46 billion in 2023 and is anticipated to grow with a CAGR of 4.78% in the forecast period, 2024-2029. Initiatives taken by government based on synthetic polymers has led to favorable market conditions for the Global Synthetic Polymers Market. Several factors contribute to the growth of various synthetic polymers products.

Governments worldwide are increasingly recognizing the urgent need to address the environmental impact of synthetic polymers. In response, they are implementing new rules and policies aimed at minimizing the use of these materials. The environmental concerns stem from the significant contribution of synthetic polymers to global plastic pollution, which has become a pressing issue. To tackle this problem, many countries have taken proactive measures, such as imposing restrictions on single-use plastic items, which are commonly manufactured using synthetic polymers. These efforts reflect a growing awareness and commitment to reducing the negative impact of these materials on our planet.

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Researchers around the world are tirelessly dedicating their efforts to the continuous development of innovative synthetic polymers. These groundbreaking materials aim to exhibit superior properties, including enhanced strength, improved durability, and exceptional resistance to a wide range of environmental factors. Through their meticulous research and experimentation, scientists are paving the way for a future where these advanced polymers will revolutionize various industries and contribute to the creation of more sustainable and resilient products.

The Global Synthetic Polymers Market is segmented into type, application, regional distribution, and company.

Based on its type, the styrene acrylic segment held the largest market share in the forecast period. The growing demand for styrene acrylic polymers from various industries is primarily responsible for the increase in its usage. These versatile polymers find applications in a wide range of sectors, including consumer goods, packaging, appliances, binders, concrete mixtures, and coating mixtures, among others. With their exceptional properties and diverse uses, the styrene acrylic polymers segment is expected to witness substantial growth over the forecast period, making it an attractive investment opportunity. Moreover, within this segment, the styrene-butadiene subcategory is projected to experience the highest compound annual growth rate (CAGR), further highlighting its potential and market significance.

Based on region, Asia Pacific segment is expected to grow during the forecast period. 

The presence of a substantial number of key players in the region contributes to the growth of the market. Moreover, the increasing demand for synthetic polymers in various end-use industries further fuels this growth. Additionally, countries like India and China play a significant role as prime suppliers of the raw materials needed for the manufacturing of synthetic polymers, which adds to the momentum of the market expansion.

Major companies operating in Global Synthetic Polymers Market are:

·         Alberdingk Boley GmbH

·         3M Company

·         Celanese Corporation

·         Dow Inc.

·         Asahi Kasei Corporation

·         BASF SE

·         Trinseo SA

·         Wacker Chemie AG

·         LG Chem Ltd

·         Lubrizol Corporation

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“Economic growth in emerging markets has been driving demand for synthetic polymers, particularly in industries such as packaging, construction, and consumer goods.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Global Synthetic Polymers Market By Type (Styrene Acrylic, Styrene Butadiene, 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 Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated the future growth potential of Global Synthetic Polymers Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Synthetic Polymers Market.

 

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