Synthetic Polymers Market Report 2025

The synthetic polymers market size has grown strongly in recent years. It will grow from $33.37 billion in 2024 to $35.16 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to industrialization and urbanization, rising consumer goods manufacturing, advancements in material science, infrastructure development, and automotive industry expansion.

The synthetic polymers market size is expected to see strong growth in the next few years. It will grow to $46.08 billion in 2029 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to the growing packaging industry, rising focus on sustainable polymers, expanding healthcare sector, and global economic recovery. Major trends in the forecast period include bio-based polymers, advanced polymer processing technologies, electrically conductive polymers, polymer blends and alloys, and medical and healthcare polymer applications.

The growing residential and commercial construction sector is anticipated to drive the expansion of the synthetic polymer market in the future. Residential and commercial construction involves the creation of buildings and structures intended for living and commercial use, encompassing the planning, design, and execution of projects that result in living spaces, offices, retail environments, hotels, and other commercial facilities. Due to their versatility, durability, lightweight nature, cost-effectiveness, and low maintenance needs, synthetic polymers are widely utilized in both residential and commercial construction, making them a popular choice for various applications. For instance, in April 2023, Statistics Canada, a national statistical agency, reported a 1% increase in building construction investment, totaling $20.6 billion, with positive growth across all sectors. The residential sector saw a rise of 1.1%, reaching $15 billion, while the non-residential sector increased by 0.8%, totaling $5.6 billion. Thus, the growing number of residential and commercial buildings is fueling the synthetic polymer market's growth.

The rise in automotive production is expected to boost the growth of the synthetic polymer market in the future. Automotive production refers to the manufacturing process of vehicles, including cars, trucks, motorcycles, and other motor vehicles. Synthetic polymers, particularly composites, are extensively utilized in the automotive industry because of their durability, corrosion resistance, and lightweight characteristics. For instance, in May 2023, the European Automobile Manufacturers Association, based in Belgium, reported that global motor vehicle production reached 85.4 million units in 2022, reflecting a significant 5.7% increase compared to 2021. Additionally, in February 2022, Brand Finance plc, a UK-based brand valuation firm, noted that the automotive sector achieved approximately 78 million unit sales, indicating a substantial 10% rise. Therefore, the increasing production of vehicles is contributing to 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 include 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 2024. 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.

Synthetic polymers are large molecules consisting of repeating units called monomers, chemically bonded together through a process known as polymerization. These polymers are artificially produced using various chemical methods and find extensive use across multiple industries owing to their versatility, durability, and customizable properties.

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.

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