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

Synthetic polymers are the type of polymer which are artificially produced by the polymerization of chemical molecules. A synthetic polymer is also known as a human-made polymer. Some examples of synthetic polymers are polyethylene (PE), polyamides (nylon), polystyrene (PS), synthetic rubber, poly(vinyl chloride) (PVC), epoxy, Teflon, and several others Polymers are referred to as repeated structural units known as as monomers. Polyethylene (PE) is considered to be one of the simplest polymers, it has ethylene or ethene as the monomer unit whereas the linear polymer is known as the high-density polyethylene-HDPE. Many polymeric materials have chain-like structures which resemble polyethylene.

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 synthetic polymer industry is fast expanding and gaining popularity across all end-use industries. There is a rising demand for synthetic polymers for the applications such as automotive and transportation, building and construction, packaging, electrical, and electronics. Other end-user industries are agriculture, medicine, sports, and leisure. The rising technological advancement in synthetic polymers is one of the key factors that is driving the growth of the market. Furthermore, rising applications of synthetic polymers in the cosmetics and personal care industry are also propelling the growth of the market. They are increasingly being used as film-formers, emulsifiers, rheology modifiers, thickeners, conditioners, etc in the chemical and personal care industry.

However, the fluctuation in raw material prices is one of the major factors that is hindering the growth of the market over the forecast period. Furthermore, growing environmental awareness among consumers further hampers the market’s growth. Moreover, the rising demand for synthetic polymers in the healthcare industry is one of the key factors that is providing potential opportunities for the key vendors in the market over the forecast period. Newly emerged polymers such as polyesters and polyamides as synthetic suture materials are rapidly entering medical applications. Furthermore, Synthetic polymers have been used for numerous pharmacologic and biomedical applications. These include suture material, prosthetic implants, and 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

On the basis of regional analysis, the Global Synthetic Polymers Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region commanded the highest market share in the Global Synthetic Polymers Market. The largest share is mainly due to the presence of a large number of key players across the region. Furthermore, the rising demand for synthetic polymers across the various end-use industries is the growth of the market. In addition to this, the countries such as India and China are the prime suppliers of the raw materials required for the manufacturing of synthetic polymers. The North American region accounted for a significant market share in the Global Synthetic Polymers Market.

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

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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