Resins are organic compounds consisting of a non-crystalline or viscous liquid substance. Natural resins are typically fusible and flammable organic substances that are transparent or translucent and are yellowish to brown in color. Some examples of resins include frankincense, myrrh and benzoin.
The global plastic material and resins market was valued around $431 billion in 2017. Asia Pacific was the largest region in the plastic material and resins market in 2017, accounting for around 38% of the total market. China was the largest market accounting for around 22% of the total market.
The search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can manipulate their dimensions based on the changes in the environment.
The top five companies covered are LyondellBasell Industries, Dow Chemical Company, BASF SE, Bayer Material Science, and Formosa Plastics Group. LyondellBasell Industries was the largest company in the plastic material and resins market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The plastic material and resins market is segmented Polypropylene (PP), High-density polyethylene (PE-HD), Polyvinyl chloride (PVC) and Polyethylene terephthalate (PET), Polyurethane (PUR), Low-density polyethylene (LDPE) and Polystyrene.
Polypropylene (PP) is a smooth surface plastic that cracks easily when bent. It is resilient and resistant to fatigue and highly resistant to most acids and alkalis.
High-density polyethylene (PE-HD) is a polyethylene thermoplastic made from petroleum. When it is used in pipes, plastic bottles and plastic bags, it is also called "alkathene" or "polythene.
Polyvinyl Chloride (PVC) is a thermoplastic made of 57% chlorine and 43% carbon derived predominantly from oil / gas via ethylene.
Polyethylene Terephthalate (PET) high gloss, crack-resistant transparent plastic is used largely in making carbonated beverage bottles.
Polyurethane (PUR) is used in foam seating, foam insulation panels and foam seals and gaskets.
Low-density polyethylene (LDPE) is a thermoplastic made using monomer ethylene.
Polystyrene is a synthetic thermoplastic material through polymerizing styrene. It is used in modeled products, foams and sheet materials.
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