Synthetic polymers, also known as plastics, are human-made or synthetic organic polymers that have become ubiquitous in modern life. While natural polymers like cellulose have been used for centuries, synthetic polymers first emerged in the late 19th century and their production has expanded dramatically since then due to their flexibility, durability and low costs. Some of the most widely used synthetic polymers today include polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS) and polyurethanes.

Growth of the Global Synthetic Polymer Industry

After first being introduced, the plastics industry experienced rapid growth especially after World War 2 as new applications were discovered. Production increased from 1.7 million metric tons in 1950 to over 400 million metric tons globally by the early 21st century. This was driven by substitution of traditional materials like wood, stone, natural fibers, animal products and metals by plastics in various applications. Sectors like packaging, construction, automotive and electronics now have significant usage of plastics which were nearly non-existent just a century ago. In terms of value, the global plastics industry was estimated to be around $580 billion in 2019.

Sectoral Demand for Plastic Materials

The main sectors driving Synthetic Polymers demand globally include packaging, building & construction, automotive and electronics & electrical. Packaging is the dominant end-use sector representing over 40% of total plastics demand owing to extensive usage of plastics in food, beverage and other consumer packaging. The construction industry follows as the second largest user of plastics primarily for piping, insulation, windows and other construction applications. Automotive, electrical & electronics and agriculture are other high growth application sectors of plastics benefiting from increasing consumption worldwide. Synthetic plastics have found versatile applications ranging from lightweight vehicle components to complex molded parts in electronics as traditional materials get replaced.

Future Outlook for the Global Synthetic Polymer Industry

While plastics have transformed manufacturing and daily lives, challenges related to plastic waste and environmental pollution have emerged. This is driving strategic changes towards more sustainable plastic production and consumption patterns globally. Sustainability initiatives include developing bioplastics from renewable biomass, increasing recycled plastics usage, banning certain single-use plastic items and promoting circular economy models. Government policy support through regulations on plastic waste management and incentives for advanced recycling technologies will be key. The industry is also investing in R&D for innovative eco-friendly plastic materials. Overall, driven by factors like increasing global population and incomes, ongoing substitution of other materials as well as sustainability measures, the global synthetic polymers is projected to grow at around 4-5% annually through 2030 according to industry forecasts. Applications in high growth areas such as electric vehicles are also emerging.

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