The Synthetic Polymers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


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According to The Business Research Company’s Synthetic Polymers Global Market Report 2024, 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 growth in the historic period can be attributed to industrialization and urbanization, rising consumer goods manufacturing, advancements in material science, infrastructure development, automotive industry expansion..

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 growth in the forecast period can be attributed to growing packaging industry, rising focus on sustainable polymers, expanding healthcare sector, global economic recovery.. Major trends in the forecast period include bio-based polymers, advanced polymer processing technologies, electrically conductive polymers, polymer blends and alloys, medical and healthcare polymer applications..

Increasing residential and commercial construction is expected to propel the growth of the synthetic polymer market going forward. Residential and commercial construction refers to constructing buildings and structures for residential and commercial purposes. It involves the planning, design, and execution of construction projects that create living spaces, offices, retail spaces, hotels, and other commercial establishments. Synthetic polymers are extensively used in residential and commercial construction due to their versatility, durability, lightweight, cost-effectiveness, and reduced maintenance. These advantages make them a preferred choice in many construction applications. For instance, in April 2023, according to the reports shared by the United States Census Bureau, a US-based government agency, the overall value of residential and non-residential constructions in US increased by over 8 % between 2020 and 2021. Furthermore, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42 %, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, increasing residential and commercial buildings is driving the growth of the synthetic polymer market.

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The synthetic polymers market covered in this report is segmented –

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

Product innovations are a key trend gaining popularity in the synthetic polymers market. Major companies operating in the synthetic polymers market are developing innovative products to sustain their position in the market. For instance, in January 2022, Toray Industries Inc., a Japan-based textile material manufacturer, developed Ecodear N510 fiber. This innovative product incorporates 100 % biobased synthetic polymer content. Ecodear N510 is made from sebacic acid, which is derived from castor oil, and pentamethylenediamine, which is derived from corn. It is more sustainable, as it does not require the use of fossil fuels. It is also more comfortable to wear, as it is softer and more breathable. It is used in various applications, including clothing, textiles, and industrial products. Additionally, it provides sustainability, heat-resistant comfort, dimensional stability under humid conditions, and strong and durable performance.

The synthetic polymers market report table of contents includes:

1. Executive Summary
2. Synthetic Polymers Market Characteristics
3. Synthetic Polymers Market Trends And Strategies
4. Synthetic Polymers Market - Macro Economic Scenario
5. Global Synthetic Polymers Market Size and Growth
.............
32. Global Synthetic Polymers Market Competitive Benchmarking
33. Global Synthetic Polymers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Synthetic Polymers Market
35. Synthetic Polymers Market Future Outlook and Potential Analysis
36. Appendix

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