About Synthetic Resin Strategic Insights
A synthetic resin is a chemical substance that is synthesized to closely resemble the properties of its natural counterpart. Synthetic resins based on polyethylene, polyvinyl chloride, formaldehyde, aliphatic, and glycidyl amine occur in a wide range of products, such as plastics, paints, and varnishes. Products that are manufactured with synthetic resins provide better long-term corrosion protection of metal substrates because of their increased durability, owing to which its market demand is being spurred. The growth can be attributed to the increasing demand for paints, coatings, adhesives, and sealants from the bolstering building and construction industry across various regions globally. However, the increasing adoption of bio-based resins as an eco-friendly alternative over the coming years is anticipated to impede the global synthetic resins market growth over the forecast period. Synthetic resins, which are either derived from plant sources or synthetically manufactured in laboratories, are extensively used in these industries. However, the rise of bio-based resins as an eco-friendly alternative could potentially impede the growth of the synthetic resins market. Despite the challenges, the market presents opportunities for innovation, particularly in the development of bio-based resins. It’s always a good idea to conduct your own research or consult with a market research professional for more detailed insights.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Synthetic Resin Strategic Insights market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Celanese Corporation (United States), Dow Inc. (United States), Asahi Kasei Corporation (Japan), BASF SE (Germany), Wacker Chemie AG (Germany), LG Chem Ltd. (South Korea), Lubrizol Corporation (United States), Apcotex Industries Limited (India) and Arkema S.A. (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are LyondellBasell Industries N.V. (United States), SABIC (Saudi Arabia), Covestro AG (Germany), Mitsui Chemicals, Inc. (Japan) and Sumitomo Chemical Co., Ltd. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Synthetic Resin Strategic Insights market by Type (Thermosetting Resins (Polyester, Vinyl Ester, Epoxy, Phenolic, Urethane, and Others) and Thermoplastic Resins (Polycarbonate, Acrylic, Nylon, Polyethylene, Polyvinyl Chloride, Polyethylene Terephthalate, Polypropylene, Polybutylene Terephthalate, Vinyl, and Others).), Application (Packaging, Printing Inks, Pipes & Hoses, Walls & Floors, Wood Finishes, Sheets & Films, Medical Devices, Paint & Coatings, Adhesives & Sealants, Electronic Fabrications, Transportation Components and Others.) and Region.
On the basis of geography, the market of Synthetic Resin Strategic Insights has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Transportation will boost the Synthetic Resin Strategic Insights market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Solid will boost the Synthetic Resin Strategic Insights market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Adoption of Recyclable Resins
Market Growth Drivers:
Rising Demand in Packaging and Rising environmental concerns drive the adoption of eco-friendly and biodegradable synthetic resins.
Challenges:
Environmental Concerns & Regulations
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Advancements in Polymer Technology and Growth in 3D Printing Applications
Market Leaders and their expansionary development strategies
In January 2023 BASF acquired the polyamide business of Solvay for €1.6 billion. This acquisition strengthens BASF's position in the engineering plastics market, particularly in high-performance polyamides.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Neonatal Intensive Care, Venture Capitalists and Private Equity Firms and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.