The synthetic polymers market size has grown strongly in recent years. It will grow from $31.76 billion in 2023 to $33.6 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The increase observed in the historical period can be attributed to factors such as industrialization and urbanization, the upsurge in manufacturing of consumer goods, advancements in material science, infrastructure development, and the expansion of the automotive industry.
The synthetic polymers market size is expected to see strong growth in the next few years. It will grow to $42.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be linked to the expanding packaging industry, an increased emphasis on sustainable polymers, the growth of the healthcare sector, and the global economic recovery. Key trends expected in the forecast period encompass the adoption of bio-based polymers, advancements in polymer processing technologies, the use of electrically conductive polymers, the development of polymer blends and alloys, and the application of polymers in medical and healthcare settings.
The anticipated growth in synthetic polymer market is set to be propelled by the increasing trends in residential and commercial construction. This sector involves the creation of structures for residential and commercial purposes, encompassing the entire process from planning and design to execution. Synthetic polymers find widespread application in this field owing to their versatility, durability, lightweight nature, cost-effectiveness, and minimal maintenance requirements. These qualities make synthetic polymers a preferred choice in various construction applications. For instance, in April 2023, data from the United States Census Bureau revealed an over 8% increase in the overall value of residential and non-residential constructions in the U.S. between 2020 and 2021. Additionally, reports from Oxford Economics in September 2021 projected a 42% increase, or $4.5 trillion, in global construction output from 2020 to 2030, reaching a total of $15.2 trillion. Hence, the surge in residential and commercial construction activities is a driving force behind the growth of the synthetic polymer market.
The anticipated rise in automotive production is also expected to contribute to the growth of the synthetic polymer market. Automotive production involves the manufacturing of various vehicles, including cars, trucks, motorcycles, and other motor vehicles. Synthetic polymers, especially composites, are extensively utilized in the automotive industry due to their durability, resistance to corrosion, and lightweight characteristics. For example, in May 2023, data from the European Automobile Manufacturers Association (ACEA) reported a global production of 85.4 million motor vehicles, indicating a 5.7% increase compared to 2021. Therefore, the increasing trend in automotive production is a significant factor propelling the growth of the synthetic polymer market.
A prominent trend in the synthetic polymers market is the focus on product innovations by major companies to maintain their market positions. In January 2022, Toray Industries Inc., a Japan-based manufacturer of textile materials, introduced Ecodear N510 fiber, an innovative product with 100% biobased synthetic polymer content. Derived from castor oil and corn, this sustainable product eliminates the need for fossil fuels, offering a softer and more breathable alternative for various applications, including clothing, textiles, and industrial products. This innovation combines sustainability with enhanced comfort, heat resistance, dimensional stability under humid conditions, and strong and durable performance.
Major companies operating in the synthetic polymer market are also prioritizing sustainability by developing biodegradable rheology modifiers. These modifiers alter the flow and deformation characteristics of materials and can naturally break down over time, contributing to environmental sustainability. For example, in February 2023, Clariant AG, a Switzerland-based chemicals company, introduced Aristoflex Eco T, a biodegradable rheology modifier that combines the performance of synthetic polymers with the environmental profile of biopolymers. With a renewable carbon index (RCI) of 71%, it is made from tara gum and 2-acrylamido-2-methylpropane sulfonic acid (AMPS), providing strong thickening and stabilizing performance while being readily biodegradable and naturally derived.
In August 2022, Agilent Technologies Inc., a U.S.-based electronics company, completed the acquisition of Polymer Standards Service GmbH (PSS), a Germany-based biochemical company specializing in synthetic polymers and products. This strategic move aims to strengthen Agilent Technologies Inc.'s position in the chemical and biopharmaceutical sectors, expand its product line, and enhance its offerings in the growing polymer analysis industry.
Major companies operating in the synthetic polymers market report are ExxonMobil Chemical, Sumitomo Chemical Co. Ltd., Dow Inc., SABIC, LG Chem Ltd., 3M Co, Mitsubishi Chemical Corporation, Evonik Industries, Toray Industries, Solvay SA, Chevron Phillips Chemical Company, DuPont, Arkema SA, Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Huntsman Corporation, Lubrizol Corporation, Kuraray, Trinseo LLC, Asahi Kasei Corporation, ZEON Corporation, Kraton Corporation, BASF SE, OMNOVA Solutions Inc., Apcotex Industries Limited., Lion Elastomers LLC, Alberdingk Boley GmbH.
Asia-Pacific was the largest region in the synthetic polymers market in 2023. The regions covered in the synthetic polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synthetic polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of polymers in synthetic polymers include styrene acrylic, styrene butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene, and others. Styrene-acrylic, for instance, is a copolymer derived from the polymerization of styrene and acrylic monomers. These polymers are employed in various applications, such as paints and coatings, adhesives and sealants, nonwovens, carpets, paper and paperboard, among others. The main end-users of synthetic polymers encompass the construction, automotive, electronics, textiles, healthcare, and other related industries.
The synthetic polymers market research report is one of a series of new reports that provides synthetic polymers market statistics, including synthetic polymers industry global market size, regional shares, competitors with a synthetic polymers market share, detailed synthetic polymers market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic polymers industry. This synthetic polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The synthetic polymers market consists of sales of polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and polystyrene (PS). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The synthetic polymers market size is expected to see strong growth in the next few years. It will grow to $42.19 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be linked to the expanding packaging industry, an increased emphasis on sustainable polymers, the growth of the healthcare sector, and the global economic recovery. Key trends expected in the forecast period encompass the adoption of bio-based polymers, advancements in polymer processing technologies, the use of electrically conductive polymers, the development of polymer blends and alloys, and the application of polymers in medical and healthcare settings.
The anticipated growth in synthetic polymer market is set to be propelled by the increasing trends in residential and commercial construction. This sector involves the creation of structures for residential and commercial purposes, encompassing the entire process from planning and design to execution. Synthetic polymers find widespread application in this field owing to their versatility, durability, lightweight nature, cost-effectiveness, and minimal maintenance requirements. These qualities make synthetic polymers a preferred choice in various construction applications. For instance, in April 2023, data from the United States Census Bureau revealed an over 8% increase in the overall value of residential and non-residential constructions in the U.S. between 2020 and 2021. Additionally, reports from Oxford Economics in September 2021 projected a 42% increase, or $4.5 trillion, in global construction output from 2020 to 2030, reaching a total of $15.2 trillion. Hence, the surge in residential and commercial construction activities is a driving force behind the growth of the synthetic polymer market.
The anticipated rise in automotive production is also expected to contribute to the growth of the synthetic polymer market. Automotive production involves the manufacturing of various vehicles, including cars, trucks, motorcycles, and other motor vehicles. Synthetic polymers, especially composites, are extensively utilized in the automotive industry due to their durability, resistance to corrosion, and lightweight characteristics. For example, in May 2023, data from the European Automobile Manufacturers Association (ACEA) reported a global production of 85.4 million motor vehicles, indicating a 5.7% increase compared to 2021. Therefore, the increasing trend in automotive production is a significant factor propelling the growth of the synthetic polymer market.
A prominent trend in the synthetic polymers market is the focus on product innovations by major companies to maintain their market positions. In January 2022, Toray Industries Inc., a Japan-based manufacturer of textile materials, introduced Ecodear N510 fiber, an innovative product with 100% biobased synthetic polymer content. Derived from castor oil and corn, this sustainable product eliminates the need for fossil fuels, offering a softer and more breathable alternative for various applications, including clothing, textiles, and industrial products. This innovation combines sustainability with enhanced comfort, heat resistance, dimensional stability under humid conditions, and strong and durable performance.
Major companies operating in the synthetic polymer market are also prioritizing sustainability by developing biodegradable rheology modifiers. These modifiers alter the flow and deformation characteristics of materials and can naturally break down over time, contributing to environmental sustainability. For example, in February 2023, Clariant AG, a Switzerland-based chemicals company, introduced Aristoflex Eco T, a biodegradable rheology modifier that combines the performance of synthetic polymers with the environmental profile of biopolymers. With a renewable carbon index (RCI) of 71%, it is made from tara gum and 2-acrylamido-2-methylpropane sulfonic acid (AMPS), providing strong thickening and stabilizing performance while being readily biodegradable and naturally derived.
In August 2022, Agilent Technologies Inc., a U.S.-based electronics company, completed the acquisition of Polymer Standards Service GmbH (PSS), a Germany-based biochemical company specializing in synthetic polymers and products. This strategic move aims to strengthen Agilent Technologies Inc.'s position in the chemical and biopharmaceutical sectors, expand its product line, and enhance its offerings in the growing polymer analysis industry.
Major companies operating in the synthetic polymers market report are ExxonMobil Chemical, Sumitomo Chemical Co. Ltd., Dow Inc., SABIC, LG Chem Ltd., 3M Co, Mitsubishi Chemical Corporation, Evonik Industries, Toray Industries, Solvay SA, Chevron Phillips Chemical Company, DuPont, Arkema SA, Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Huntsman Corporation, Lubrizol Corporation, Kuraray, Trinseo LLC, Asahi Kasei Corporation, ZEON Corporation, Kraton Corporation, BASF SE, OMNOVA Solutions Inc., Apcotex Industries Limited., Lion Elastomers LLC, Alberdingk Boley GmbH.
Asia-Pacific was the largest region in the synthetic polymers market in 2023. The regions covered in the synthetic polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the synthetic polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of polymers in synthetic polymers include styrene acrylic, styrene butadiene, acrylic, vinyl acetate copolymer, polyvinyl acetate, vinyl acetate ethylene, and others. Styrene-acrylic, for instance, is a copolymer derived from the polymerization of styrene and acrylic monomers. These polymers are employed in various applications, such as paints and coatings, adhesives and sealants, nonwovens, carpets, paper and paperboard, among others. The main end-users of synthetic polymers encompass the construction, automotive, electronics, textiles, healthcare, and other related industries.
The synthetic polymers market research report is one of a series of new reports that provides synthetic polymers market statistics, including synthetic polymers industry global market size, regional shares, competitors with a synthetic polymers market share, detailed synthetic polymers market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic polymers industry. This synthetic polymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The synthetic polymers market consists of sales of polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), and polystyrene (PS). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Synthetic Polymers Market Characteristics3. Synthetic Polymers Market Trends and Strategies32. Global Synthetic Polymers Market Competitive Benchmarking33. Global Synthetic Polymers Market Competitive Dashboard34. Key Mergers and Acquisitions in the Synthetic Polymers Market
4. Synthetic Polymers Market - Macro Economic Scenario
5. Global Synthetic Polymers Market Size and Growth
6. Synthetic Polymers Market Segmentation
7. Synthetic Polymers Market Regional and Country Analysis
8. Asia-Pacific Synthetic Polymers Market
9. China Synthetic Polymers Market
10. India Synthetic Polymers Market
11. Japan Synthetic Polymers Market
12. Australia Synthetic Polymers Market
13. Indonesia Synthetic Polymers Market
14. South Korea Synthetic Polymers Market
15. Western Europe Synthetic Polymers Market
16. UK Synthetic Polymers Market
17. Germany Synthetic Polymers Market
18. France Synthetic Polymers Market
19. Italy Synthetic Polymers Market
20. Spain Synthetic Polymers Market
21. Eastern Europe Synthetic Polymers Market
22. Russia Synthetic Polymers Market
23. North America Synthetic Polymers Market
24. USA Synthetic Polymers Market
25. Canada Synthetic Polymers Market
26. South America Synthetic Polymers Market
27. Brazil Synthetic Polymers Market
28. Middle East Synthetic Polymers Market
29. Africa Synthetic Polymers Market
30. Synthetic Polymers Market Competitive Landscape and Company Profiles
31. Synthetic Polymers Market Other Major and Innovative Companies
35. Synthetic Polymers Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Synthetic Polymers Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on synthetic polymers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for synthetic polymers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Type: Styrene Acrylic; Styrene Butadiene; Acrylic; Vinyl Acetate Copolymer; Polyvinyl Acetate; Vinyl Acetate Ethylene; Other Types
2) By Application: Paints and Coatings; Adhesives and Sealants; Nonwovens; Carpets, Paper and Paperboard; Other Applications
3) By End-user: Construction; Automotive; Electronics; Textile; Healthcare; Other End-Users
Key Companies Mentioned: ExxonMobil Chemical; Sumitomo Chemical Co. Ltd.; Dow Inc.; SABIC; LG Chem Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- ExxonMobil Chemical
- Sumitomo Chemical Co. Ltd.
- Dow Inc.
- SABIC
- LG Chem Ltd.
- 3M Co
- Mitsubishi Chemical Corporation
- Evonik Industries
- Toray Industries
- Solvay SA
- Chevron Phillips Chemical Company
- DuPont
- Arkema SA
- Eastman Chemical Company
- Celanese Corporation
- Wacker Chemie AG
- Huntsman Corporation
- Lubrizol Corporation
- Kuraray
- Trinseo LLC
- Asahi Kasei Corporation
- ZEON Corporation
- Kraton Corporation
- BASF SE
- OMNOVA Solutions Inc.
- Apcotex Industries Limited.
- Lion Elastomers LLC
- Alberdingk Boley GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 33.6 Billion |
| Forecasted Market Value ( USD | $ 42.19 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 28 |
