With the emergence and long-term Impact of COVID-19, the Global Monomers Market is to reach USD 55.88 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Monomers Market is poised to raise up to USD 55.88 Billion by 2030. Monomers are small, molecular units that can join together to form larger molecules known as polymers through a process called polymerization. These building blocks play a crucial role in various biological, chemical, and industrial processes. Monomers help in the production of various consumer goods such as electronics, appliances, textiles, packaging materials, and household products. The increasing demand in the Plastic and automotive industries are the key factors responsible for the monomers market growth of the Monomers over the forecast period 2023-2030.
According to the International Energy Agency’s report, in the first quarter of 2023, approximately 2.3 million electric cars were sold worldwide, representing a growth of about 25% compared to the same period last year. According to the Organisation Internationale des Constructeurs d’Automobiles, in 2021, motor vehicle production is USD 77.71 million units and increased to USD 80.14 million units in 2022. The increasing demand in the automotive sector and growth in the production of various types of plastics are the primary factors of growth in the market.
Also, technological advancement in end-use industries to improve the strength and durability of advanced monomers accelerate market growth. Moreover, increased investment by key players and rapid urbanization are anticipated to create a positive outlook for the market. However, stringent policies regarding the usage of monomers stifle market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Monomers Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in terms of revenue owing to factors such as increased usage in end-user industries such as plastic, automotive, and packaging sectors, technological advancement in various industries, and a rise in disposable income in the region. Europe is the fastest-growing region due to increased demand for polymers and investing in research and development activities to develop new materials to improve the efficiency and performance of products in the region.
The global Monomers Market is highly competitive owing to the presence of several key manufacturers such as 3M Company, Asahi Kasei Jyuko Co., Ltd., BASF SE, Wacker Chemie AG, LG Chem LTD., Lubrizol Corporation, and others.
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Key findings of the study suggest:
- Global Monomers Market is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2023-2030.
- In the type segment, synthetic emerged as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to rapid technological advancement in various industries.
- Europe is expected to grow at a high CAGR followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Type:
- Synthetic
- Natural
By Category:
- Polar Monomer
- Non polar Monomer
By End-use:
- Plastics
- Pharmaceutical
- Textile
- Agriculture
- Automotive
- Paints & Coatings
- Defense
- Packaging
- Electronics & Telecommunication
- Aerospace
- Building & Construction
- Industrial
- Energy
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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