According to the recent study the polymer market is projected to reach an estimated $990.4 billion by 2027 from $744.3 billion in 2021, at a CAGR of 4.9% from 2021 to 2027. Growth in this market is primarily driven by growing demand for plastic and rubber in the automotive and construction sector and ease of availability and cost efficiency.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in polymer market by product type (thermoplastic, thermoset, and elastomers), end use industry (automotive, building and construction, industrial, packaging, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Thermoplastic polymer market is expected to remain the largest segment during the forecast period.”

Based on product type, the polymer market is segmented into thermoplastic, thermoset, and elastomers. Lucintel forecasts that the thermoplastic polymer market is expected to remain the largest segment due to increasing demand for thermoplastics in the food packaging industry, owing to their high mechanical strength, cost efficiency, and ease of manufacturing.

“Within the polymer market, the packaging segment is expected to remain the largest end use industry”

Based on end use industry the packaging segment is expected to witness the highest growth over the forecast period due to growing demand for plastic in food and pharmaceutical packaging.

“Asia pacific will dominate the polymer market in near future”

Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing automotive production and growth in construction and industrial sectors.

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Major players of polymer market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. are among the major polymer provi Dow Chemical Company, BASF SE, SABIC, China Petrochemical Corporation (Sinopec), and Exxon Mobil Corporation ders.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/polymer-market.aspx or helpdesk@lucintel.com