Global Polymers Market to be dominated by utilization of polymers in agriculture industry through 2028.
Initiatives taken by the government to support the
production of polymers are the major drivers for the Global Polymers Market.
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.
Browse over XX market data Figures and spread through 165 Pages and
an in-depth TOC on "Global Polymers Market.”
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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