Coherent Market Insights Estimates Significant Growth in Polymers Market in Next Five Years

 

Polymers Market

Polymers are materials made of long, repeating chains of molecules and are the building blocks of modern day industries and electronics. Yet, the market for this product is fairly new. Coherent Market Insights estimates that sales of polymers will increase significantly in the next five years. This forecast is based on the sales of polyvinyl chloride. This is a great industry opportunity for those who want to start a business in polymer manufacturing. If you are considering starting a business in polymer manufacturing, now is the time to take action.

How to accurately predict the polymer market size is relatively difficult. The current global polymers market is actually quite diverse. There are numerous end-use industry groups and manufacturing profiles which are not represented in the market size. There are several key trends that are increasing demand for polymers in the global markets. First, increasing demand from the government sector, including central and local governments is driving increased demand in the market size. Japan is a great example in Asia Pacific polymers market, because of the large number of small and medium sized industries. Second, there is an increase in the demand from the packaging industry. With an increasing number of manufacturers in the packaging industry, demand for packaging products is growing at a higher rate than other polymers products.

Third, demand is also increasing for packaging in the Middle East and Europe. North America is the second largest market for polymers, but there are emerging markets in Mexico, Brazil and Germany. Also, emerging countries like Pakistan and Myanmar are witnessing increase in their demand for polymers packaging. However, emerging nations continue to remain a relatively small polymers market. It is believed that there are several end-use industries in the world that have been primarily targeted by polymer technology.

As per CMI, the polymers market is expected to experience four major growth factors. Firstly, due to the recent increase in demand, the raw materials needed to manufacture polymers will reduce, causing the price to decrease. Secondly, as more products become polymer-based, cost reduction across all polymers products will continue. Finally, due to a large number of polymers developed over the last several years, polymers are expected to reach new applications on several different continents in the coming year and beyond.


Location: India

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