Leading Companies Shaping the Global Polymer Market

• Published Date: March 08, 2024

What is Polymer?

A polymer is a material or substance containing of very large molecules termed “macromolecules”, composed of numerous repeating subunits. Because of their extensive range of properties, both natural and synthetic polymers play important as well as ubiquitous parts in everyday life.

The global demand for polymer is observing significant growth, and its market is likely to reach a value of USD 946,991.38 million by 2030.

Let's take a closer look at some prominent companies operating in the polymer market.

BASF SE

Headquarters: Germany

BASF is committed to creating chemistry for a sustainable future, merging economic success with environmental stewardship and social accountability. With approximately 112,000 employees globally, BASF serves customers across numerous sectors and nearly every corner of the globe.

Its diverse portfolio spans six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. BASF plays a significant role in the polymer industry, producing a wide array of polymer materials used in various applications. In 2023, BASF reported sales of ERU 68.9 billion, reflecting its substantial presence and impact on global markets.

Huntsman Corporation

Headquarters: U.S.

Huntsman Corporation is a multinational chemical manufacturer as well as marketer serving both consumer & industrial markets. The company, with an extensive product portfolio including polyurethanes, performance products, and adhesives, caters to renowned customers such as BMW, GE, Chevron, Procter & Gamble, Unilever, and Walkaroo.

Operating in over 30 countries, Huntsman boasts more than 70 manufacturing, R&D, and operations facilities. The company's workforce of approximately 9,000 associates is spread across four business divisions. In 2020, Huntsman Corporation reported revenues of around USD 6 billion.

Royal DSM

Headquarters: Netherlands

Royal DSM, is a science-based business, stated an income of EUR 9.204 billion in 2021. Specifying in nourishment, well-being, and sustainable living solutions, DSM is a front-runner in polymer innovations. Through it is enhanced polymer techs, DSM advances materials for numerous sectors, such as healthcare, automotive, and electronics. Such polymers help in improving the performance of products, sustainability, and effectiveness. DSM's promise to driving positive change through science underlines its vital role in shaping a more supportable future.

Covestro AG

Headquarters: Germany

Covestro stands out as a leading manufacturer of premium polymer materials playing a role, in promoting sustainability and enhancing quality of life. With a focus on serving sectors such, as transportation, building, technology, leisure, beauty and chemistry the company strives to achieve circularity and environmental balance by the year 2035. In the year 2023 Covestro recorded revenues amounting to EUR 14.4 billion operating across 48 production facilities globally and employing 17,500 full time staff members.

Clariant International Limited

Headquarters: Switzerland

Clariant International Limited is a major specialty chemical company globally, delivering innovative and sustainable solutions across various industries. With a portfolio tailored to meet specific needs and a focus on addressing key trends like energy efficiency and renewable resources, Clariant plays a crucial role in driving forward environmental progress.

Saudi Arabia Basic Industries Corporation (SABIC)

Headquarters: Saudi Arabia

SABIC manufactures and markets a wide range of chemicals, plastics, and other materials for the transportation, agri-nutrients, construction, medical devices, packaging, clean energy, and electrical & electronics sectors.

The company’s manufacturing, sales, technology, and innovation facilities are located throughout the globe and managed by four regional offices: the Middle East and Africa, Asia, the Americas, and Europe. The company’s innovation hubs are located in five key geographies: the U.S., Europe, the Middle East, South Asia, and North Asia. Additionally, the company currently owns 9,948 global patents. It generated revenue of USD 674.1 million in 2022.

Eastman Chemical Company

Headquarters: U.S.

Initially Eastman Chemical Company, a subsidiary of Kodak has become an entity focusing on specialty materials. Founded in 1920 and based in Kingsport, Tennessee it runs 36 manufacturing plants worldwide. Has 14,000 employees.

Since its spinoff, from Eastman Kodak in 1994 Eastman has been generating a sales revenue of around USD 10.5 billion. With a specialization in materials, chemicals and fibers that cater to everyday needs the company holds a significant position, within the chemical industry.

The Dow Chemical Company

Headquarters: U.S.

The Dow Chemical Company plays an important role in the polymer sector. With industrial facilities in 30 nations and a staff of approximately 35,800 workforces, Dow is a major player in making several kinds of polymers utilized in everyday items.

In 2023, Dow stated sales of around USD 45 billion, highlighting its significant existence in the industry. Through its novelty and making capabilities, Dow endures to contribute to progressions in polymer tech and applications globally.

Mitsui Chemicals Inc.

Headquarters: Japan

Founded in 1912 Mitsui Chemicals Group is a chemical company known for its deep-rooted cultural history. It is publicly traded on the Tokyo Stock Exchange. Is highly regarded for its reliability and adherence, to tradition. The company is dedicated to ensuring customer satisfaction and upholding stewardship by focusing on the development of friendly materials and products that improve the quality of life.

Their diverse product lineup includes solutions for Life & Healthcare Mobility, ICT as Basic & Green Materials. Mitsuis materials are utilized in applications such as personal care items, packaging, footwear and automotive parts. With a vision for growth, it operates headquarters in China, Germany, the United States and Singapore to support its workforce of, over 18,000 employees worldwide.

Evonik Industries Ag

Headquarters: Germany

Evonik Industries AG is a key company in the world of specialty chemicals. With a workforce of more than 33,000 individuals spread across more than 100 sites, this company plays a major part in various sectors, despite not directly manufacturing final products such as electric vehicles or pharmaceuticals. Instead, their groundbreaking advancements contribute to the enhancement of electric vehicle batteries, the promotion of eco-friendly practices in aviation, the optimization of medication efficiency, and the improvement of 3D printer performance.

Leveraging their expertise in polymers, Evonik specializes in developing unique polymers tailored for automotive applications, construction projects, electronics manufacturing, and healthcare solutions. These specialized polymers not only elevate product quality but also promote sustainability within these sectors.

Over the last twelve months leading up to 2023, Evonik Industries AG reported an impressive revenue figure of USD 17.22 billion.

Exxon Mobil Corporation

Headquarters: U.S.

Exxon Mobil Corporation is a top worldwide energy company intensely involved in the petroleum and petrochemical industries. In polymer making, ExxonMobil grips substantial power, manufacturing a range of plastics and polymers. Using pioneering techs, the business produces top-tier polymer materials for varied applications such as wrapping, automotive parts, construction materials, and consumer products.

ExxonMobil's ability in polymer chemistry allows it to serves to a wide range of industry requirement, nurturing improvement and innovation in polymer materials. Despite facing challenges like industry refining margin drops, augmented maintenance activities, and divestments, ExxonMobil noted full-year 2023 earnings of USD 12.1 billion, reflecting a USD 2.8 billion decrease compared to 2022.