The polymers market is rapidly evolving. Since the 1960s, global production of plastics increased twentyfold. According to a study by Grand View Research, the global plastics market is expected to reach USD 654.38 billion by 2020.
Continuous innovation and new technologies allowed polymer producers to develop exciting new products that surpass the benefits of traditional materials such as glass, metals, paper, wood, leather and ceramics. Low cost, availability of raw materials, flexibility of use and easy manufacturing made plastics the material of choice in many new industries.
Growing demand in a changing market
Global plastics demand was 233.75 million tons in 2013 and is expected to reach 334.83 million tons by 2020, growing at a CAGR of 5.3% from 2014 to 2020, according to the same study. Key driving factors for global plastic demand is the massive growth of end-use industries such as plastic packaging, construction and automotive.
Discover the new and emerging opportunities for polymers suppliers. Download our white paper to learn why taking a digital approach to marketing and sales is necessary to take advantage of such opportunities.
In addition, demand for high-performance plastics is being fueled by the automotive industry that is actively seeking for materials that will enhance fuel efficiency.
But growing environmental concerns, efficient plastics disposal and recycling, sustainability, and raw material prices are posing a serious challenge to the market players. The polymer producers who thrive in this rapidly changing environment will be the ones who can:
- Offer materials that product designers can easily use in more sustainable ways
- Make good use of innovative new sources of raw material – improving the quality of recycled or bioplastic products
- Use the limitless possibilities of new polymers to secure new, high-value applications, and capture the imaginations of design engineers
Taking advantage of new opportunities
In our latest whitepaper, Matmatch highlights some current, emerging and future opportunities for plastics producers, including:
- The continued growth of fluoropolymers applications
- How bioplastics could represent the future of packaging
- Exciting prospects for new polymers, such as Poly(N-isopropylacrylamide)
A number of other important topics are covered, such as how and why the polymer economy is moving from a linear to a circular model. Plus, we discuss why a digital approach to marketing and sales is necessary, and how it will help polymers suppliers take an advantage of the new channels and audiences.
Download the full white paper for free now: