Polymers Market Size

Polymers Market size was valued at USD 721.4 Billion in 2023 and is expected to exceed USD 1.38 Trillion by the end of 2036, registering over 5.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of polymers is evaluated at USD 757.1 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.

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of polymers is evaluated at USD 757.1 Billion.

The polymers market size was valued at USD 721.4 Billion in 2023 and is expected to exceed USD 1.38 Trillion by the end of 2036, registering over 5.3% CAGR during the forecast period i.e., between 2024-2036. The major factor driving the growth of the market is an increase in the automotive and construction industries.

North America industry share is expected to cross 28% by 2036, impelled by the increasing needs for polymers in many sectors such as aircraft, construction, and others.

Dow Chemicals, Bayer AG, Royal DSM, Nylene Canada Inc., BASF SE, Exxon Mobil Corp., LyondellBasell Industries N.V., Lanxess, Avient Corporation, China Petrochemical Corporation, (Sinopec)

Polymers Market Size