Global Synthetic Polymers Market Size By Type (Acrylic, Styrene Acrylic), By Application (Paints And Coatings, Adhesives And Sealants), By End Use Industry (Construction, Automotive), By Geographic Scope And Forecast

Synthetic Polymers Market Size And Forecast

Synthetic Polymers Market size was valued at USD 31.49 Billion in 2024 and is projected to reach USD 45.48 Billion by 2031, growing at a CAGR of 5.19% during the forecast period 2024-2031.

The increasing demand for synthetic polymers across the various end-use industries is one of the key factors driving the growth of the market. In addition to this, various applications in different end-user industries are demanding specialized synthetic polymers that meet their requirements and needs. The Global Synthetic Polymers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Synthetic Polymers Market Definition

Think of synthetic polymers as plastics and other materials we create in labs and factories by linking up smaller chemical building blocks. That's why we also call them "human-made" polymers. You've probably heard of some already, like polyethylene (PE), used in plastic bags; strong polyamides, like nylon; polystyrene (PS) in foam cups; not to mention synthetic rubber, tough poly(vinyl chloride) (PVC), sturdy epoxy, and non-stick Teflon. These polymers are built from repeating units called monomers. Polyethylene (PE), one of the simplest polymers, uses ethylene (or ethene) as its monomer. When it's a straight chain, it's called high-density polyethylene – or HDPE. Lots of other polymers have similar chain-like structures, kind of like polyethylene's.

Synthetic polymers are sometimes referred to as “plastics”, of which the well-known ones are polyethylene and nylon. The polymers which are formed by linking monomer units are known as addition polymers or also called chain-growth polymers. All these are said to be synthetic polymers. Synthetic polymers are generally derived from petroleum oil and are made up of carbon–carbon bonds as their backbone. A combination of pressure and heat in the presence of a catalyst alters the chemical bonds that hold monomers together, causing them to bond with one another.

A catalyst is used to accelerate chemical reactions between monomers. Some of the synthetic polymers which are being used in daily life are Teflon used in non-stick pans, nylons used in fabrics and textiles, and polyvinyl chloride used in pipes. Synthetic polymers have revolutionized several processes and functions, owing to the different favorable properties they comprise. Polymers can be classified based on their uses or applications, and some common classifications are commodity thermoplastics, engineering thermoplastics; high-performance engineering thermoplastics among others.

Global Synthetic Polymers Market Overview

The world of synthetic polymers is really taking off! They're becoming super popular in all sorts of industries. We're seeing a huge demand for them in things like automotive and transportation, building and construction, packaging, and even electrical and electronics stuff. And that's not all – they're popping up in agriculture, medicine, sports, and even leisure activities. One of the main reasons this market is booming is because of all the cool new tech advancements in synthetic polymers. Plus, they're increasingly showing up in the cosmetics and personal care industry, where they're used as film-formers, emulsifiers, rheology modifiers, thickeners, conditioners, and a bunch of other things!

One big problem we're facing is that the price of raw materials keeps jumping around, which is really slowing down growth in the market. And to make things even trickier, people are becoming more aware of environmental issues, which is also holding us back. But hey, it's not all bad news! The healthcare industry's increasing need for synthetic polymers is opening up some exciting potential opportunities for key players like us. Think about itnew polymers, like polyesters and polyamides, are quickly becoming popular as synthetic suture materials in all sorts of medical procedures.

In fact, synthetic polymers are already being used in a ton of pharmacologic and biomedical applications. We're talking about everything from suture material to prosthetic implants and even drug carriers.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Synthetic Polymers Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in Global Synthetic Polymers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Synthetic Polymers MarketSegmentation Analysis

The Global Synthetic Polymers Market is Segmented on the basis of Type, Application, End Use Industry, and Geography.

Synthetic Polymers Market, By Type

• Acrylic
• Styrene Acrylic
• Styrene Butadiene
• Vinyl Acetate Copolymer
• Polyvinyl Acetate
• Others

Based on Type, the market is segmented into Acrylic, Styrene Acrylic, Styrene Butadiene, Vinyl Acetate Copolymer, Polyvinyl Acetate, and Others. The styrene acrylic segment held the largest market share in the year 2021. This is mainly due to the increasing demand for styrene acrylic polymers from various end-use industries. It is increasingly being used in the applications such as consumer goods, packaging, appliances, binders, concrete mixtures, and coating mixtures among others. The styrene-butadiene segment is anticipated to grow at the highest CAGR over the forecast period.

Synthetic Polymers Market, By Application

• Paints and Coatings
• Adhesives and Sealants
• Nonwovens
• Carpets, Paper and Paperboard
• Others

Based on Application, the market is segmented into Paints and Coatings, Adhesives and Sealants, Nonwovens, Carpets, Paper and Paperboard, and Others. The paints and coatings segment dominated the Global Synthetic Polymers Market and is expected to continue its dominance over the forecast period. Increasing the residential and commercial construction sector owing to the rapid urbanization across the globe is one of the key factors that is driving the demand for paints and coatings. In addition to this, the rising production of automobiles is also driving the demand for paints and coatings.

Synthetic Polymers Market, By End Use Industry

• Construction
• Automotive
• Electronics
• Textile
• Healthcare
• Others

Based on End Use Industry, the market is segmented into Construction, Automotive, Electronics, Textile, Healthcare, and Others. The automotive segment dominated the Global Synthetic Polymers Market and is expected to continue its dominance over the forecast period. There are different types of synthetic polymers are used for the production of automobiles. Synthetic polymers are increasingly used in the tires, interior and exterior parts, and engine components in the automotive sector. The construction sector also held a significant market share in the Global Synthetic Polymers Market in 2021.

Synthetic Polymers Market, By Geography

• North America
• Europe
• The Asia Pacific
• Latin America
• Middle East and Africa

Looking at the Global Synthetic Polymers Market, we can break it down by regionNorth America, Europe, Asia Pacific, and the rest of the world. Guess what? Asia Pacific is leading the pack! This is mainly because a ton of the big players are located there. Plus, there's a growing demand for these polymers from different industries which is driving market growth. And let's not forget that countries like India and China are major suppliers of the raw materials needed to make the polymers. North America also holds a significant piece of the market pie.

Key Players

The “Global Synthetic Polymers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are 3M, Celanese Corporation, Dow, Asahi Kasei Corporation, BASF SE, Wacker Chemie AG, LG Chem, Lubrizol Corporation, Apcotex Industries Limited, Arkema, Arlanxeo, OMNOVA Solutions Inc.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2022, BASF SE announced that it has expanded the production capacity for its antioxidant Irganox 1010 at its site on Jurong Island, Singapore, by integrating an additional production line into the existing production facilities.
• In October 2020, Wacker Chemie AG announced that the company has expanded its Chinese polymer activities by investing around USD 100 million in building two new production plants at its Nanjing site.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

We dig deep into the market, looking at it from all angles – not just the numbers, but also the human side – breaking it down by different groups. We'll give you the market size (in USD Billion!) for each of those groups, so you know exactly where the money is. We'll also point out which region and segment is likely to be the rocket ship – the one with the most growth and the biggest slice of the pie. Our analysis will highlight what's driving demand in each region, plus we size up the competition, ranking the big players and tracking all their recent moves (new products, partnerships, expansions, acquisitions) over the last five years. You'll get detailed profiles on those companies, with an overview, key insights, product comparisons, and even a SWOT analysis. We’ll give you our take on where the market's headed, considering all the latest trends, growth opportunities, and the challenges that lie ahead in both new and established markets. We even use Porter's Five Forces to give you an in-depth look at the competitive landscape and map out the value chain. Finally, we’ll explore the market dynamics and pinpoint growth opportunities for the future, and to top it all off, we offer 6 months of analyst support after the sale.

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