The global polymer industry experienced robust growth over the last five years, and is expected to grow during forecast period. The demand for polymers is driven by the growth in end-user market, increasing plastic consumption, and increasing demand for essential light weight and significant low cost materials, as compared to its alternative. The application segment in the global polymer market includes industrial sectors, such as horticulture, consumer goods, packaging, building & construction, medical, packaging, automotive, transportation, food industry, and electronics and communication. Polymers are replacing metals, glass, paper and other traditional materials in various applications, due to their strength, design flexibility, along with low cost. The increasing applications of polyethylene in automotive and packaging industry, increasing dependency on PVC in bottling of beverages, indicates that the polymer sector will witness more demand from these industries during forecast period. The main issue faced by the polymer market is to address the concern related to environmental issues, limited use as engineering materials, and the feedstock supply.
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Polymers are high weight molecules made of reposted chemical units called monomer. The property and quality of polymer depends upon the interaction bonds, additives, and length of polymer chain. Polymers are natural, as well as synthetic in nature. Natural polymers are DNA and proteins that are fundamental to biological structure. Synthetic polymers are manufactured by polymerization of many small molecules. Polymers can be classified as organic, inorganic and hybrid polymers. On the basis of type, the global polymer market is classified into thermosetting, elastomers, and thermoplastics. Among the various types, the thermosetting segment dominated the global polymer market.
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