Polymers Market size was over USD 760.36 billion in 2024 and is anticipated to cross USD 1.51 trillion by 2037, witnessing more than 5.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of polymers is assessed at USD 827.47 billion.
With the increasing number of cars using advanced sensor systems, there is tremendous growth in the polymer market. The advancement in the automotive industry has led to the development of light sensors, that are used in lightweight vehicles. As per the International Energy Agency, the sale of electric light commercial vehicles across the globe surged by more than 70 % in the year 2021.
Furthermore, polymers play a critical role in lowering the energy consumption. Also, they have become a valuable material that is used for the generation of electricity, and its storage. Several studies are going on in relation to the use of polymers for fuel cells, and supercapacitors batteries.
Author Credits: Rajrani Baghel
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