Polymer Resin Market Research Report: Information by Resin Types (Polystyrene, Polyethylene, Polyvinylchloride, Polypropylene, Expandable Polystyrene and Others), Application (Electrical & Electronics, Construction, Medical, Automotive, Consumer, Industrial, Packaging and Others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa ) - Forecast till 2030

Polymer Resin Market overview

The polymer resin is produced from organic acids and polyhydric alcohols. Polymer resins are very flexible and offer great resistance against heat, chemicals, and flame. Polymer resin has a wide range of applications in automobiles and cars. Car factories and the manufacturing plants that produce spare parts for vehicles use polymer resin, and polymer resin is one of the most used products in this sector. The polymer resin is used to manufacture several automobile-related products such as seat belts, carpets and etc. These polymers can also be used in the injection molding process for automobiles and responsible for the durability of the components. Apart from that, polymer resin is also used in construction. There are so many uses of polymer resin in construction. They are used in door frames, durable floor tiles, and others things. Polymer resins are used due to their versatility because the liquid form can be given the desired shape.

The polymer resin is also used in the packaging sector, and it has a huge application in all types of packaging material. As with increasing economics and people’s income, the demand for the food sector is rapidly increasing. The polymer resin is used in the packaging of bottles, foods, and beverages. Polymer resin application is also in the textiles. In textiles, polymer resin is used to manufacture common kinds of fabrics and other clothing components. It is used to make the button, zippers, and other common clothing products.

According to polymer resin market analysis, the market was valued at $76 billion in 2018, and it is expected to reach 138.43 billion in the polymer resin market forecast period with a CAGR rate of 7.2%. The polymer resin is a liquid product that hardens to make long-lasting thick coatings, and that is why it is widely used in electrical and electronics, packaging, medical, construction, and textiles. Due to the different uses of polymer resin, it boosts the polymer resin market Demand. The need for lightweight materials in an electric vehicle will drive the Demand in the polymer resin market forecast period.

Covid-19 analysis

Coronavirus outbreak has affected all the businesses around the world. Due to this virus, many people have lost their job, and the global economy is down. As a result, it has shown its impact on businesses. Businesses around the world are going through tough times. Both the private and public sector is suffering from the covid-19 outbreak. The countries have imposed lockdown and social distancing guidelines to fight the spread of the virus. And it has affected the businesses, as due to lockdown, the businesses are closed, so the production work on a halt. Due to low production, the demand has also declined. The most affected sectors are the automotive and construction sector. Due to the shortage of laborers and shut down in the countries then manufacturing work has stopped. And the people are going through financial problems amidst the pandemic. So, the consumption of consumer goods has decreased. All these factors are affecting the polymer resin market growth. The use of polymer resin in the automotive and construction sector has decreased, and it has a negative impact on the polymer resin market. The market is expected to see growth after the post-covid-19 situation.

Market Dynamics

There are so many factors that are boosting the polymer resin market growth, but like every market, there are some restraints and challenges that are hampering the polymer resin market trends growth.

Market drivers

One of the major drivers of polymer resin market trends growth is the wide application of polymer resin in automotive sectors. In the automotive sector, polymer resin is used to make seat belts, carpets, bumpers, and other materials as well. The polymer resin is used in automobiles due to its lightweight mature so that it won’t increase the weight of the vehicle. Due to its lightweight nature, it is used in electric vehicles. And the adoption of electric vehicles and the huge application of polymer resin is driving the polymer resin market size. The market will see rapid growth over the years with increasing demand for automobiles with increasing population. Apart from automotive, polymer resin is also used in the construction sector. It is widely used to make doors, tiles, and other things. With rapid urbanization, development of infrastructure, and increasing per capita income of people, the polymer resin market size will grow. And the need for polymer resin in the construction sector is another major driver in the market. Also, polymer resin is used in the packaging Industries as well. The economics is growing; as a result, the consuming power of people is also increasing, and it will drive the food sector. As a result, it will drive the polymer resin market revenue. The polymer resin market also has other applications in textiles sectors to make common fabrics, and it is used to make buttons and zippers. The adoption of polymer resin in various sectors will drive the market demand in the forecast period.

Market opportunities

Increasing environmental concern and awareness has encouraged the government to promote electric vehicles as they emit low carbon dioxide. The adoption of electric vehicles will increase in the coming years. The polymer resin is used in electric vehicles because it is lightweight, so with the increasing adoption of electric vehicles, the polymer resin market will also grow. Apart from that, increasing per capita income of people and economics will also boost the polymer resin market revenue in the coming years.

Market restraints

One of the major market restraints for the polymer resin market is the awareness of the health side effects of polymer resin. Polymer resin can cause many health problems, and with increasing awareness, it has become a concern for the market. Apart from that, the lack of availability of raw materials has become a restraint for the polymer resin market.

Market challenges

There are many alternatives to polymer resin that are also used in automotive, construction, and textiles. And the availability of these alternative materials has become a challenge for the polymer resin market. There are some underdeveloped areas that don’t use polymer resin; as a result, it has become a challenge for the market.

Cumulative growth analysis

Polymer resin has a wide range of uses in major sectors like automotive and construction. And with the rapid growth of these sectors, the polymer resin market will also grow in the forecast period. The polymer resin market was valued at $76 billion in 2018, and it is expected to reach $121.43 billion in the polymer resin forecast period with a CAGR rate of 6.83%.

Market segmentation

The polymer resin market is segmented on the basis of types, applications, and regions.

• By type- By type, the polymer resin market is further divided into polystyrene, polyethylene, polypropylene, polyvinyl chloride, and others.


• By application- by application, the market is divided into electronic and electrical, automotive, construction, medical and consumer, Industrial, and others.


• By region- by region, the polymer resin market includes North America, Europe, Asia Pacific, and others.

Regional analysis

The major regions in the polymer resin market are North America, Europe, Asia Pacific, and the rest of the world. North America holds the highest polymer resin market share due to the presence of a large number of petroleum-based manufacturing companies located in this region. Additionally, high demand for oil& had extraction has increased the use of polymer resin in this region. The personal care industry and the cosmetic industry are growing rapidly in this region due to the strong economy, and it is expected to drive the demand for the global polymer resin market in this region.

The European region holds the second-highest polymer resin market share due to the increasing adoption of medical devices and equipment. The medical industry is growing rapidly due to the increasing population and chronic diseases. As a result, it will drive the polymer resin market growth. The Asia Pacific will also show steady growth due to construction activities, infrastructure development, increasing consumer sector in this region. Big countries like India, China, and Japan had a huge demand for polymer resin, and it is expected to boost the demand of the market.

Competitive landscape

The major key players in the global polymer resin market are:

• BASF SE (Germany), 


• Evonik Industries (Germany), 


• DuPont (US), 


• Solvay SA (Belgium), 


• SABIC (Saudi Arabia), 


• Royal DSM (Netherlands), 


• LG Chem (South Korea), 


• Covestro (Germany), 


• Celanese Corporation (US), 


• Bayer AG (Germany).

Recent developments

September 2021- Tethon 3D has disclosed the issuing and release of its latest patent that allows the 3D printing of composite resins. The (U.S. Patent number 11,126,088) ‘Photopolymer Development Resin Base for Use with Three-dimensional Printer’ includes the product line produced by Tethon 3D by the name of ‘Genesis,’ a set of photo-curing polymer resins to be used in the making and full-scale production of DLP and SLA 3D printing materials.August 2021- Danimer Scientific announced the acquisition plans for Novomer, Inc. by the end of the third quarter, likely to allow both the firm to expand their portfolio of Nodax PHA bioplastics in the future and reduce its costs. Novomer, based in Rochester, N.Y., is a producer of conversion technology, which offers low net carbon inputs for manufacturing PHA-based resins and several other biodegradable materials.August 2021- The Yokohama Rubber Co. Ltd. Has built a hybrid material, which substantially lowers the weight of automotive air-conditioning hoses. The firm is now boosting the production of a commercial product and focuses on full market launch by the year 2024. The latest ultralight hose is produced from a rubber–resin polymer alloy with a sea-island structure with the sea phase obtained made of resin and the island phase made of rubber.In September 2020, INEOS Olefins & Polymers announced its partnership with Saica Natur.In September 2021, Tethon 3D, the prominent producer of innovative materials for ceramic 3D additive manufacturing, has announced the issuing and publication of its new patent, which allows the 3D printing of composite resins.