According to TechSci Research report, “Global Polymers Market –Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Global Polymers Market is anticipated to register a high CAGR during the forecast period. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.
Polymers are revolutionizing the agricultural industry with their versatile properties and ability to meet specific needs. These large molecular compounds are increasingly integrated into various aspects of agriculture, ranging from crop protection and irrigation to packaging and soil health. The collaboration between polymers and agriculture showcases the power of innovative cross-industry partnerships. Addressing global water scarcity concerns, polymers play a pivotal role in improving water retention, reducing runoff, and enhancing irrigation practices. For instance, superabsorbent polymers retain significant amounts of water, gradually releasing it to plants and minimizing irrigation frequency. Moreover, polymers facilitate controlled release of fertilizers and pesticides, ensuring optimal nutrient delivery while minimizing environmental impact. Encapsulated systems based on polymers protect beneficial compounds, promoting gradual release for plant growth without overuse risks. Polymers also enhance soil structure through erosion prevention and improved aeration. Soil stabilizers made from polymers bind soil particles, reducing wind and water erosion. In the post-harvest phase, polymers find utility in packaging and preserving crops. Barrier films made from polymers extend the shelf life of produce by creating a protective shield against moisture and oxygen. As sustainability gains prominence, biodegradable polymers emerge as environmentally friendly alternatives, naturally breaking down to reduce plastic waste in agriculture. The intersection of polymers and agriculture drives the demand for specialized polymers tailored to agricultural applications. As polymers gain traction in agriculture, their applicability expands to other industries, contributing to the growth of the polymer market. In the dynamic landscape of global industries, governments are playing an increasingly proactive role in fostering growth and innovation. They are strategically investing in research and development (R&D) initiatives to drive polymer innovation. By allocating funding to research programs focused on polymer chemistry, processing techniques, and product development, governments stimulate the creation of novel materials with enhanced properties and applications. Moreover, governments actively facilitate technology transfer from research institutions to industries, promoting fruitful collaboration between academia and the private sector. This collaborative approach enables the successful commercialization of cutting-edge polymer technologies and expedites market growth. Additionally, in response to growing environmental concerns, governments are implementing regulations and incentives to encourage the adoption of sustainable polymers, including biodegradable and bio-based polymers. These commendable initiatives not only drive the development of eco-friendly materials but also support the principles of the circular economy. The global polymers market is currently undergoing a dynamic transformation, with collaborations and partnerships emerging as crucial drivers of growth and innovation. Collaborative endeavors facilitate the exchange of ideas, leading to faster advancements and novel solutions that may not have otherwise arisen. Collaborations play a pivotal role in addressing environmental concerns by enabling companies to collectively develop sustainable materials, recycling technologies, and strategies for waste reduction. An example of a recent collaboration in the realm of polymers is the partnership between Avantium and SCGC, which aims to advance CO2-based polymers and scale them up for pilot testing. This collaboration seeks to develop innovative solutions that contribute to the sustainability of the plastics industry. Additionally, ExxonMobil has achieved a significant milestone by making its first commercial sale of certified circular polymers, derived from plastic waste processed at their advanced recycling facility. This achievement represents a significant stride towards establishing a circular economy in polymer production and utilization. Another notable collaboration is between Helian Polymers and Arctic Biomaterials, where Arctic Biomaterials, renowned for their Pharadox PHA materials, has partnered with Helian Polymers to explore new horizons in the field of polymers.
However, harmful effects of plastics on the environment are expected to slow down the growth of the market in the coming years.
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The Global Polymers Market segmentation is based on Type, Product, Application, By Company, and Region.
Some of the major companies operating in the Global Polymers Market include:
- The Dow Chemical Company
- LyondellBasell Industries N.V.
- Exxon Mobil Corporation
- Saudi Basic Industries Corp.
- BASF SE
- INEOS AG
- Eni S.p.A.
- Chevron Phillips Chemical Company LLC
- LANXESS AG
- Covestro AG
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“Certain regions, particularly the Asia Pacific, are projected to exert significant demand for polymers worldwide. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their polymers productivity each year, are expected to contribute to a remarkable growth of the Global Polymers Market in the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.
Global Polymers Market By Type (Thermoplastics, Thermosets and Others), By Product (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyurethane, Polyethylene Terephthalate (PET), Polystyrene and Others), By Application (Packaging, Building & Construction, Automotive, Electrical & Electronic, Household, Agriculture and Others), By Region, Competition, Forecast and Opportunities, 2018-2028F has evaluated the future growth potential of Global Polymers Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Polymers Market.
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