Polymers & plastics are some of the most important and most widely used chemical products in industry and consumer markets. Polymers /plastics are produced by chemically linking one or more “link” chemicals to produce long chains of strongly connected chemicals called polymers. They are used for manufacturing consumer products, such as coatings, lubricants, consumer goods, aerospace, building materials etc. Polymers and plastics are being used as an alternative to traditional metal or mineral based products due to their cost-effectiveness, high performance and low weight.
Plastics and Polymers Market Size
The global plastics and polymers market was valued at $611.9 billion in 2017. Asia-Pacific was the largest geographic region in the plastics and polymers market in 2017, accounting for $235 billion or 38.3% share in the market. China was the largest country in the market in 2017, accounting for $109.0 billion or 17.8% share in the market.
Plastics and Polymers Market Trend
Bio based plastic is gaining prominence among the users and manufacturers recently. Bio based plastics have a very high degree of recyclable potential and are made from renewable or non-petroleum raw materials. Cost optimization are made up of driving the demand for bio based plastics. Industries such as the packaging industries have been leading the adoption of the bio-based plastics for processed food packaging.
Plastics and Polymers Market Segmentation
The plastics and polymers market is segmented into Nylon, Polyester and Synthetic Fibers, Polyethylene, Polypropylene, Polyurethane, Rubber, Bioplastics, Expandable Polystyrene, Polystyrene, Polycarbonate, and ABS.
Nylon, Polyester and Synthetic Fibers market comprises of manufacturing and sale of nylon, polyester, synthetic fibers and their resins. The market is also involved in the manufacturing and marketing of ropes and harnesses for industrial and/or domestic use.
Rubber market includes manufacture and sale of synthetic and natural rubber and/or rubber products. Natural rubber includes rubber produced from rubber tree latex and synthetic rubbers which includes various polymers such as styrene-butadiene rubbers (SBR) and acrylonitrile butadiene rubber (NBR). Synthetic and natural rubbers are employed to manufacture various products such as tires, belts, hoses, gaskets, etc.
ABS (Acrylonitrile Butadiene Styrene) market comprises of establishments manufacturing and selling various acrylonitrile butadiene styrene (ABS) polymer and related products. ABS is a co-polymer produced by co-polymerization of three different chemicals, acrylonitrile, butadiene and styrene. It is a strong and versatile plastic that is employed in manufacturing various automotive, electrical, consumer and other products.
Polyethylene market comprises of manufacturing and sale of high density polyethylene (HDPE), low density polyethylene (LDPE), linear low-density polyethylene (LLDPE) and other polyethylene variants. Polyethylene is produced by polymerizing ethylene or ethylene and linear alpha olefins. Polyethylene has a wide variety of applications, mainly in packaging. Various advanced polyethylene types are also used to make medical products.
Polypropylene market includes the manufacture and sale of polypropylene and various polypropylene products. Polypropylene is manufactured by polymerizing propylene. It is a moldable plastic used to make containers and plastic furniture.
Polystyrene market includes manufacture and sale of polystyrene and polystyrene products. Polystyrene is produced by polymerizing styrene molecules. It is a cost-effective, rigid plastic used to manufacture disposable cutlery, laboratory ware, and various plastic consumer products.
Expanded Polystyrene(EPS) market comprises of manufacturing and sale of closed-cell foam polystyrene. EPS is tough, rigid and generally manufactured using pre-expanded polystyrene beads. EPS materials are used for cushioning fragile product packages. It has high air content and is also used for structural insulation by construction markets.
Polycarbonate market includes the manufacture and sale of polycarbonate plastics and polycarbonate products. Polycarbonates are the plastics that contain carbonate groups and are generally tough and strong. Some polycarbonates are also optically transparent. Polycarbonate plastics are used to make electrical components, parts for transportation market, for construction and also used in making decorative products.
Polyurethane market comprises of manufacturing and sale of polyurethane and polyurethane products. Polyurethane polymers are manufactured using several chemical ingredients including, isocyanates (mostly MDI and TDI), polyols, crosslinking and chain extending functional chemicals and surfactants. Polyurethanes can be foam or non-foam. Polyurethane is used to make varnishes, foams (for furniture), and for insulation.
Biodegradable Plastic market includes manufacture and sale of biodegradable plastic and biodegradable plastic products. Biodegradable plastics are designed to disintegrate in the natural ecosystem by microorganisms after a limited period of time, sometimes in limited environmental conditions.
The major players in the global plastics and polymers market are DowDupont Inc., LyondellBasell Industries N.V., Saudi Basic Industries Corporation (SABIC), Covestro AG, and LG Chem.
The countries covered in the global plastics and polymers market are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.