Selbyville, Delaware, Sept. 20, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Hybrid Polymer Market size may surpass USD 12 billion by 2030.
The rising emphasis on biodegradable and eco-friendly packaging will be a key driver for hybrid polymer industry growth. Global retailers are under pressure from regulators to turn the tide on burgeoning plastic waste. As a result, the usage of sustainable packaging solutions, such as hybrid packaging, has become critical. Businesses are also aligning with plastic waste reduction strategies, such as the UK Plastics Pact, to offer improved environmental performance for packaging. These trends will contribute to the rising popularity of hybrid polymer composite materials for packaging applications.
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Growing demand for green cleaning solutions to drive industry development
Based on product, the report bifurcates the hybrid polymer market into cleaning solutions, electrode material, sealant & adhesive, coating, concrete additive, and others. The cleaning solution segment will be valued at over USD 1 billion by 2030, given the burgeoning consumption of environment-friendly cleaning solutions. Consumers are becoming increasingly aware of the presence of toxic chemicals in cleaning products and their adverse impacts, leading to the development of greener cleaning products. Hybrid polymer cleaning technology provides a superior visual impact with added benefits of stain protection and water resistance in surface care applications, further augmenting segmental growth.
High prevalence of water scarcity to boost product demand from the water treatment segment
In terms of application, the hybrid polymer market is divided into automotive & transportation, construction, water treatment, oil & gas, electrical and electronic, and others. Of these, the water treatment segment is slated to depict a CAGR of more than 4% through 2030, driven by the growing water scarcity in several countries. This factor has encouraged government bodies to take initiatives such as the treatment of wastewater from municipalities, to facilitate its reuse. Consequently, the demand for PAA (polyacrylic acid)-based water-soluble hybrid polymers will grow to address issues related to hardness ions in water.
Browse key industry insights spread across 350 pages with 476 market data tables & 27 figures & charts from the report, “Hybrid Polymer Market Size By Product (Coating, Sealant & Adhesive, Concrete Additive, Electrode Material, Cleaning Solutions), Application (Construction, Automotive & Transportation, Electrical & Electronic, Oil & Gas, Water Treatment), Type (Biodegradable, Non-Biodegradable), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape and Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/hybrid-polymer-market
Biodegradable hybrid polymers to gain massive popularity
With respect to type, the hybrid polymer market is segregated into non-biodegradable and biodegradable segments. The biodegradable segment among these is expected to witness substantial growth through 2030. This is a result of the increasing application scope of hybrid polymer materials in the fast-growing biomaterial sector, which plays a major role in solving complex biomedical issues including repair, regeneration, and replacement of tissues. Bio polymeric materials are also gaining widespread adoption in packaging and pharmaceutics, among other applications.
Europe to emerge as a lucrative revenue pocket
On the regional front, the Europe hybrid polymer market is likely to record a revenue of over USD 3 billion by 2030, owing to the robust product demand from the thriving automotive and construction industries in countries such as Germany and the UK. Governments have been introducing strict norms to ensure safe food packaging. These factors, alongside the abundant availability of raw materials, rapid technological innovations, and the rapid adoption of eco-friendly hybrid polymer sealants and adhesives.
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Business expansion to remain a major strategy for industry participants
The competitive landscape of the hybrid polymer market is inclusive of companies such as Bostik (Arkema Group), Stahl, WACKER, Kaneka, AGC Inc., 3M, and The Sherwin-Williams Company, among others. These market players are focusing on mergers and acquisitions, collaborations, and business expansions to retain their footprint in the global market.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
