A recent report ongoing study by Infinium Global Research on the polymers and biopolymers market provides an in-depth analysis of segments and sub-segments in the Africa as well as regional polymers and biopolymers market. The study also highlights the impact of drivers, restraints, and macro indicators on the Africa and regional polymers and biopolymers market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the Africa polymers and biopolymers market. The Africa polymers and biopolymers market was valued at USD 14,043.1 million in 2022 and is expected to reach USD 19,350.9 million in 2030 with a CAGR of 4.14% during the forecast period 2023-2030.
Africa is a continent rich in natural resources and is home to many different polymers and biopolymers industries. Polymers are large molecules composed of repeating structural units, while biopolymers refer to polymers synthesized by living organisms. The most important polymers and biopolymers industries in Africa include the production of plastics, rubber, and cellulose. Plastics are the most widely used type of polymer in Africa, with the majority of the production occurring in South Africa. The production of rubber is mainly centered in Nigeria, while cellulose production is mainly focused in Egypt. Additionally, the plastics industry in Africa is mainly focused on the production of packaging materials, such as bottles and containers. The production of rubber is mainly used for tires and other automotive parts, while cellulose is used in the production of paper, cardboard, and other products.
The use of plastics has been growing across industries such as construction, automotive, packaging, and others driving the growth of the market during the projected period in the African region. Primarily, the adoption of plastics is growing in the automotive and packaging sector of Africa. Plastics are gradually replacing metal and glass in automotive uses in Africa because they are lightweight, affordable, and can be blended and molded to fit most requirements. Plastic integration has aided the automotive industry's ability to build high-performance vehicles with increased safety features and fuel economy. Rising demand for bio-polymers due to growing awareness of sustainability in the plastic industry of Africa. However, fluctuations in the supply and prices of raw materials may restrain the growth of the market. Africa is increasingly becoming a popular investment destination for companies wishing to grow their industrial operations, which may provide growth opportunities to the market.
The Africa polymers and biopolymers market is segmented into Nigeria, South Africa, Egypt, and the rest of Africa. Egypt is expected to grow at the fastest rate during the forecast period. This is due to the increasing demand for plastics in the country, driven by the growing population and increasing consumption. Nigeria is the largest economy in Africa and the 24th largest in the world. The country has seen steady growth in its polymers and biopolymers market over the past few years. Additionally, South Africa is a major producer and consumer of polymers and biopolymers in the African region. The polymers and biopolymers market in South Africa is driven by the growing demand from the automotive and construction industry, as well as the rising demand for packaging materials. Moreover, the growing demand for polymers and biopolymers in the automotive industry, construction industry, and packaging industry is expected to drive the growth of the market. The country has a well-established automotive industry, which is expected to expand further in the coming years.
|Market Size in 2022||USD 14,043.1 Million|
|Market Size by 2030||USD 19,350.9 Million|
|Growth Rate from 2023 to 2030||CAGR of 4.14%|
|No. of Pages||80|
|Market Segmentation||By Product Type, By Application, and By End-use Sector|
|Regional Scope||Nigeria, South Africa, and Rest of Africa|
The report on Africa polymers and biopolymers market covers segments such as product type, application, and end-use sector. On the basis of product type, the sub-markets include polymers, and biopolymers. On the basis of application, the sub-markets include films, roto moulding, injection moulding, packaging, pipes, woven sacks, and others. On the basis of end-use sector, the sub-markets include automotive, appliances, furniture, caps & closures, fertilizer, agriculture, fibre & filaments, dwc pipes, and others.
The report provides profiles of the companies in the market such as Advanced Polymer, Inc., Sasol Limited, Plastimed, SAFRIPOL, Dow, BASF SE, Exxon Mobil Corporation, Indorama Ventures Public Company Limited, Tufbag, and Solvay.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the polymers and biopolymers market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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