Synthetic Polymers Market Is On The Rise In The Next 10 Years - Report Comparison on Douglas Insights
The global market for synthetic polymers is booming. More and more companies are producing these materials in order to take advantage of the growing demand for them. The synthetic polymers market is projected to grow by a 5.6% CAGR over the forecast period from this year to 2029.
Isle of Man, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Douglas Insights' comparison engine has been added to the *Synthetic Polymers Market report*. Clients can now check out the market size, share, trends, constraints, and drivers in seconds. The engine uses filters and advanced algorithms to help clients compare research reports by using published ratings and dates as well as tables. Douglas Insights provides insights on factors affecting market trends and offers a basis for practical decisions leading to increased productivity.
**Market Overview**
The synthetic polymer market is expected to grow considerably in size over the next decade. The *CAGR is 5.6%* for the market between *2022 and 2029*. The fundamental application analysis of synthetic polymer reveals its increasing demand in the aerospace, architecture, healthcare, and automobile industries. The recent rise in industrial and residential construction propels the mandate for polymer paints and varnishes. Additionally, an influx of viral and infectious ailments spurs the demand for medical equipment like catheters, surgical gloves, wraps, bandages, and stethoscopes.
Climate change and environmental anomalies are changing the focus of governments on the increased use of synthetic polymers, which are non-degradable and have harmful chemicals. Governments are employing new rules and policies to minimize the use of synthetic polymers and investing in research for its degradable alternative. While there is an opportunity in the cosmetic industry, the strict regulation of specific chemicals and their usage impedes the growth of the synthetic polymer market. Conversely, fluctuating prices of crude oil and other synthetic components slow down the production of some leading polymer types.
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**Regional Overview-**
The market size encompasses the regional markets of North America, South America, Europe, the Middle East and Africa (M.E.A.), and Asia-Pacific (APCA). Asia-Pacific countries have large quantities of raw materials used in the production of synthetic polymers and therefore have a competitive advantage over other regions. They also own the largest share of the synthetic polymer market and are expected to maintain their lead in the coming years because of rapid development and urbanization.
**Market Key Players-**
The leading vendors in the synthetic polymers market are America's Celanese Corporation, Dow Chemical, OMNOVA Solutions, Trinseo, Lion Elastomers, and Lubrizol; Japan's Asahi Kasei, Kumho Petrochemical, Sumitomo Chemical, and Zeon; India's Jubilant Agri & Consumer Products, and Apcotex Industries; Europe's Wacker Chemie, BASF, Arkema, ARLANXEO, Versalis, and Sibur; South Korea's LG Chem and China's Shanghai Baolijia Chemical.
Synthetic polymers include fibre, latex and rubber, but based on recent trends, synthetic latex polymer is expected to dominate the market. The growing application of styrene acrylics a subtype of Synthetic latex in building construction and roof coatings, has increased its demand. Synthetic latex is also used in paints, coatings, paper, adhesives, sealants and carpets and makes up the bulk of the electronic and architectural industry. The painting and coating industry dominated its application sector—and contributed to its market acceleration in the Asia-Pacific region.
In addition, the synthetic polymer trends also affect the smart polymer market, which has key influences on ongoing research against coronavirus. As the risk of viral diseases grows, and more people are exposed to viral diseases every year, smart polymers and by relevance, synthetic polymers are high in demand in the biomedical sector and drug delivery systems.
Despite the restraints on its aggressive use because of harmful consequences, the synthetic polymer will continue to grow as long as urbanization and citywide construction in Asia-Pacific and other regions are on the rise.
*Key questions answered in this report*
· COVID 19 impact analysis on global Synthetic Polymers industry.
· What are the current market trends and dynamics in the Synthetic Polymers market and valuable opportunities for emerging players?
· What is driving Synthetic Polymers market?
· What are the key challenges to market growth?
· Which segment accounts for the fastest CAGR during the forecast period?
· Which product type segment holds a larger market share and why?
· Are low and middle-income economies investing in the Synthetic Polymers market?
· Key growth pockets on the basis of regions, types, applications, and end-users
· What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
*Unique data points of this report*
· Statistics on Synthetic Polymers and spending worldwide
· Recent trends across different regions in terms of adoption of Synthetic Polymers across industries
· Notable developments going on in the industry
· Attractive investment proposition for segments as well as geography
· Comparative scenario for all the segments for years 2018 (actual) and 2031 (forecast)
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*Medical Polymers Market*- Medical polymers are biocompatible and vital components of the healthcare industry. They’re used for several human contact and non-contact purposes and are primarily demanded to manufacture medical devices, impacts, and disposables like tools, vials, gloves, and packaging.
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