The global polymer industry is expected to grow at a CAGR of 3.9% from 2015 to 2020, as per Lucintel. The demand for polymers is driven by growth in end use markets, such as packaging, building & construction, consumer goods, horticulture, automotive, rail transport, electronics and telecommunications. Polymers are continuously substituting metals, glass, paper, and other traditional materials in various applications due to their lightweight, strength and design flexibility along with low-cost. The thermoplastics segment is expected to witness the highest growth over the next five years. Increasing applications of engineered plastics in various fields, such as construction, automotive, and industrial manufacturing equipment, are expected to drive this industry.
On the basis of its comprehensive research, Lucintel forecasts that majority of the market segments for the global polymer industry would register good growth from 2015 to 2020. Rising applications of PE, PP, PS in automotive and packaging; increasing reliance of PET and PVC in bottling of beverages; extensive use of PE,PC, PVC,PMMA films for greenhouse covering; dependence on PU, PVC for footwear are some of the key factors driving demand in the thermoplastics segment. Consistent growth of the automotive sector is expected to increase demand for elastomers in tires. Continuous technological advancements in commercial development of polymers with improved properties and processing characteristics at competitive prices for most applications will be the key factor to future growth. The APAC region is expected to make great gains over the next five years due to envisaged increase in per capita consumption of plastics.
07-May-15 
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