Global Plastic Material And Resins Market Size 2024, Forecast To 2033
11 Mar, 2024
The plastic material and resins market size has experienced rapid growth in recent years, climbing from $898.26 billion in 2023 to $998.8 billion in 2024, with a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to increased demand for industrial packaging products, growth of motor vehicles, and expansion in the construction industry. Looking ahead, the market is anticipated to continue its rapid expansion, reaching $1498.73 billion in 2028 at a CAGR of 10.7%. This growth is expected to be driven by new developments in packaging, technological advancements in manufacturing processes, and efforts to develop environmentally friendly materials.
Global Plastic Material And Resins Market Key Driver
New advancements in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are anticipated to propel the market forward in 2023, 2024, and 2028. Convenience features like resealable packs, easy-opening mechanisms, stand-up pouches, and smaller pack sizes for single-servings are being introduced to meet consumer needs, while additional promotional packs and brand extensions are being developed to foster customer loyalty. Similarly, the emergence of biodegradable plastics, which naturally degrade through microbial actions, including bacteria, algae, and fungi, is gaining momentum, promising a more sustainable approach to packaging. These innovations in packaging are expected to bolster plastic consumption, thereby stimulating market growth.
Get A Free Sample Of The Global Plastic Material And Resins Market ReportGlobal Plastic Material And Resins Market Segments
The plastic material and resins market covered in this report is segmented –
1) By Type: Polypropylene-Plastic Material and Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins
2) By Application: Packaging, Housewares, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications
3) By End Userr Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries
By Geography:The regions covered in the plastic material and resins market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Asia-Pacific was the largest region in the plastic material and resins market in 2023. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Plastic Material And Resins Industry Players
LyondellBasell Industries Holdings BV, Total SE, Ineos AG, Lotte Chemical Corporation, BASF SE, Covestro AG, Formosa Plastics Corp., Huntsman International LLC, Westlake Chemical Corp, Dow, Nolato, Sintex Industries Ltd (India), Abu Dhabi National Oil Company (Adnoc), Zamil Plastic Industries Ltd, Sealed Air Corp., Silgan Holdings Inc., Northern Vinyl Supplies, Australian Vinyls Corporation (Australia), Plastral (Australia), Dagu Chemical Co. Ltd., China Petrochemical Corporation, ENPI Group, SPREA MISR, Sumitomo Chemical Company Limited (China), Yabang Investment Holding Group Co. Ltd., Zhenjiang Chimei Chemical Co. Ltd., Sanmu Group, DuPont, Cosmoplast, Exxon Mobil, Sunstar Engineering Italy S.R.L., Shanghai Huayi (Group), Awgifts Europe, Ncs Resins (Pty) Ltd, Are Plastocure cc, Celanese Corp., Jain Irrigation Systems Ltd (India), Soltex Group, Braskem, Horizon Plastics International, Qatar Petrochemical Company, Kkalpana Industries India Ltd, Chevron Phillips, Formulated Resins Ltd, Flowcrete South Africa, Glezco Plasticos, Messe Brasil, Plastic OJSC, Rosti Poland Sp., BÜFA Composite Systems, VIP Industries Ltd, Solvay S.A., Graham Packaging Company, China National Petroleum Corporation, GAP Polymers, Black Horse Plastic Products, Sonoco Products Company, Bemis Company, Sichuan Jinlu Group Co. Ltd., LG Chemical, INEOS Group, SA de CV, TCR Plastics, Berry Global Group Inc., Matsui Technologies India Ltd, RESITEC PRODUCTION SA, Osterman's Latin American Polymers, POLYNT SPA, Amcor Plc, Xinghua Xinfeng Plastic Co. Ltd., Johannes H. Andress GMBH & CO. KG, Brovary Plastic Plant, Eastman Chemical Company, Geeta Plastic Products, Advanced Polymer Trading FZC (APT), Arabian Plastic Industrial Company Limited, Saudi Aramco, HEKRO PET, PolyOne Corporation, Reliance Industries Ltd, Borealis Group
Get The Full Global Plastic Material And Resins Market ReportPlastic Material And Resins Market Overview
The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include no vulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins.
Plastic Material And Resins Global Market Report 2023 provides data on the global plastic material and resins market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The plastic material and resins market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.