Polymers Market - Forecast(2020 - 2025)
The global polymers market size was at around $666.5 billion as of 2018, and its value is poised to grow at a CAGR of 5.1% during the forecast period (2019-2025). Increasing consumption of polymers in various end-user industries such as packaging, construction, automobiles, and healthcare, for the manufacturing of elastomers, adhesives, and surface coatings, is projected to fuel the growth of the market. Polymeric materials are usually obtained from oils such as petroleum and crude oil, but significant research is initiated to develop innovative methods of producing these materials using renewable energy sources. Polymers are the chains of monomer units. The structural and chemical composition of the chain determines the physical properties of the final materials. The major types of polymers are polyacrylonitrile, polypropylene, polyvinyl chloride, neoprene, and polystyrene, which are used to reduce the dependency on renewable fossil fuels. The replacement of renewable energy so