Homopolymers Market to Make Great Impact In Near Future by 2026
Homopolymers are polymers made up of just one type of monomers. They are broadly used in plastic processing for the manufacture of products, which can lower the weight of a particular product. Homopolymers possess properties such as excellent weight-to-strength ratio, good resistance to chemicals, weldability, low density, and high resistance to moisture. Homopolymers are considered high volume products in several end-use industries. Polypropylene is a widely used homopolymer.
Planning to lay down strategy for the next few years? Our report can help shape your plan better.
The homopolymers market is driven by the high demand for these in the packaging industry. Rise in demand in the retail sector is also boosting the homopolymers market. Several emission norms set by the government and strict environmental regulations to lower carbon emission is also propelling the homopolymers market. Usage of homopolymers lowers the weight of the automobile component and subsequently increases fuel efficiency. However, automotive manufacturers are shifting to copolymers due to their high thermal conductivity and better durability. This is a major factor restraining the homopolymers market.
Based on end-use industry, the homopolymers can be segmented into automotive, medical, packaging, textile, electrical & electronics, building & construction, and others. Homopolymers are primarily used in automotive to reduce the weight of the vehicle and increase its fuel efficiency. Packaging is the most dominant end-user industry for homopolymers.
On the basis of arrangement of monomer units they can be classified as linear, branched, cross linked and network polymers. Linear polymers have single continuous chain of monomer units whereas branched chains have side chains of monomer units on the main chain of polymer. High-density polyethylene (HDPE) is an example of linear polymer. Low-density polyethylene (LDPE) is an example of branched polymer. Cross linked polymers have interconnections between polymeric chains whereas network homopolymers have numerous interconnections between parent chains which make them more complicated than cross linked.
In terms of region, the global homopolymers market can be split into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is estimated to hold large market of the global homopolymers market in the near future. India and China are anticipated to be the key countries for the homopolymers market in the region. The market in Asia Pacific is expected to expand due to the technological advancements in materials used and high demand for homopolymers in the automotive industry. The market in Europe and North America is anticipated to exhibit steady growth during the forecast period. Middle East & Africa is also a growing region of the homopolymers market. The market in the region is estimated to expand at a rapid pace. The market in Latin America is likely to expand at a moderate pace in the near future.
Key players operating in the global homopolymers are Braskem S.A., LyondellBasell Industries, Reliance Industries Limited, Sasol Limited, Total Petrochemicals USA Inc., The Dow Chemical Company, L.C.Y. Chemical Corporation, IRPC Public Company Limited., The Polyolefin Company (Singapore) Pte Ltd., and National Petrochemical Industrial Company.