Sci Revs Chem Com, Volume: 9( 2) DOI: -
Polymer Chemistry 2020-Market Analysis
- Yavuz Selim Silay
Chairman Department:Istanbul Consulting Group University
Istanbul Consulting Group, Turkey
E-mail: [email protected]
Polymers and Plastics are some of the most important and most generally used chemical product in trade and shopper markets. They are used for producing consumer products like coatings, lubricants, consumer goods, aerospace, building materials etc. The global polymer market is obtaining majorly disrupted by biopolymers-one amongst the world’s most organic compounds. The categorization of biopolymers is basically dependent on its end user industry. This market enjoys a varied range of end users as well as some promising ones like pharmaceutical, healthcare, food and drinkable business. In the medical industry, biodegradable polyesters are extremely useful in manufacturing surgical implants.
In the year 2018, the global biopolymers market experienced noticeable growth that is why its evaluated size was at $12 billion. The bio-polymers market is projected to register a CAGR of 22.68%, throughout the forecast period (2019-2024).
Asia-Pacific held a share of more than 44% in global polymers market in 2018, witnessing significant growth in the recent past. Globally, India is the third largest energy consumer due to increased consumption of petrochemicals and plastics primarily used for packaging in F&B industries. The prosperity of the country also has a multiplier effect on numerous important polymer end user sectors such as building & construction, automotive, and healthcare. Moreover, untapped rural market provides opportunities to tap the latest demand for consumer durables as well as packaged products are set to boost the polymers market in India. Pricing coupled with compatibility issues are foremost concerns among the polymers industry which needs to be addressed. The key factors that influence the price of polymers include supply-demand of feedstock, polymers and related finished products.
With the quick increasing demand for engineering plastics and their new applications, there are several players operating in this market. Theirs is an ever increasing number of varieties of world and native players in each country. This increase in competition and therefore the level of market fragmentation for engineering plastics highlights the attractiveness of the market.
Key Target Audience:
➢ Raw material suppliers
➢ Engineering plastics manufacturers
➢ Companies in end-use industries such as automotive, packaging, electrical & electronics, consumer appliances, and industrial & machinery
➢ Government & industry associations
➢ Regulatory bodies
A rapid infrastructural and construction activity, fuelled by the economic boom in emerging economies, is foretold to drive the construction polymers market growth. Fact.MR forecasts the global construction polymers market to represent a CAGR of ~ 6.5% in terms of value from 2019-2027.
The global construction polymers market consists of well-diversified global and regional players with the global players accounting for a substantial market share. The construction polymers market is highly fragmented into major countries such as China, India, United States, etc. and is consists of large number of local players. However, prominent players in the construction polymers market include BASF SE (Germany), DuPont (United States), Solvay SA (Belgium), Arkema SA (France), Evonik Industries AG (Germany), PolyOne Corporation (United States), etc. Furthermore, these key players are striving towards the development of bio-based construction polymers that has been identified as a recent trend within the construction polymers market.
Based on region, the polymer market is categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Globally, Asia-Pacific and North America are the major consumers for these compounds in the market. Economic growth of the Asian countries is the major factor contributing toward the growth of the market.
Europe is a major consumer of biopolymers in the world biopolymers market. Attributing to the laws and regulations in this region, Europe is estimated to remain dominant throughout the forecast period. After Europe, North America is forecasted to account for a major share by 2016 end. This region is estimated to witness significant growth during the forecast period. Asia Pacific is projected to witness sturdy growth in the world biopolymers market over the forecast period. This is mainly attributed to rapid industrialization and the need to curb pollution from manmade plastics and synthetic polymers in these regions. Latin America and Middle East & Africa are expected to take a position in the research and development of biopolymers throughout the forecast period.
The report on the Global Biopolymers Market gives an estimation of the development of the market based on historical studies and also provides forecasts on the basis of comprehensive research. The report gives a complete market analysis for the forecasted period from 2019 to 2026. The market is portioned into various segments with an in-depth outlook of the competitive outlook and a listing of the profiled key players. The market size in terms of revenue (USD MN) is calculated and provided for the study period along with the dynamics of the market such as the drivers and the restraints.
The market for bio-based polymer is expected to register a CAGR of 5.33% during the forecast period of 2019 – 2024. One of the major factors driving the market is the increasing demand for sustainable plastics. Higher price compared to petroleum-based polymers is expected to hinder the growth of the market studied.
➢ The packaging industry dominated the market in 2018, and is expected to grow during the forecast period.
➢ The increasing applications of biodegradable plastics are likely to act as an opportunity in the future.
➢ Europe dominated the market across the world, with the largest consumption from countries, such as France and the United Kingdom.
Global Biopolymer market is expected to witness significant growth over the forecast period. The biopolymer market accounted for USD 3.2 billion in 2015 and expected to reach USD 9.8 billion by the end of forecast period i.e. 2024. Biopolymer market Regardless of being a niche market, the global Further the market is anticipated to expand at compound annual growth rate of 11.2% over the forecast period i.e. 2016-2024. Europe 2020, Horizon 2020, Bio economy Strategy are some of the legal frameworks for the success of bio plastic industry in Europe. North-America is going to dominate the market followed by Europe region. Asia-pacific region anticipated to witness robust growth due to rapid industrialization and growing global pressure on developing regions to curb the pollution.
Key market trends:
Food and beverages industry is expected to witness a significant growth in the forecast period; Asia-Pacific is expected to register a fastest growth rate in the forecast period; Competitive landscape