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Plastic Resins Market Size to Worth Around USD 980.4 Bn by 2030

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The global Plastic Resins market size is expected to reach USD 980.4 billion by 2030 and is expected to expand at a CAGR of 6.4% from 2021 to 2030.

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Growth Factors

 Increasing product consumption in construction, automotive, and electrical & electronics applications is expected to propel the market growth. Regulatory intervention to reduce gross vehicle weight to improve fuel efficiency, as well as to reduce carbon emissions, has driven automotive OEMs to adopt resins as a substitute to steel and aluminum for fabricating automotive components. This, in turn, will boost the market growth.

Rising product demand from the construction, automotive, and electrical & electronics sectors is the key factor driving the market growth. The rapidly developing global automotive industry is expected to trigger the product demand in applications, such as under-the-hood components, exteriors, and interiors of automobiles. The increasing application of resins in the automotive industry is spurred by the demand for lightweight and inexpensive multi-utility vehicle models with high fuel efficiency and emphasis on aesthetics and comfort.

Report Coverage

Report Scope Details
Market Size USD 980.4 billion by 2030
Growth Rate CAGR of 6.4% From 2021 to 2030
Base Year 2021
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Product, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned BASF SE; Dow, Inc.; SABIC; Evonik Industries AG; Sumitomo Chemical; Arkema; Celanese Corp.; Eastman Chemical Company; Chevron Phillips Chemical Co., LLC; Lotte Chemical Corp.; Covestro AG; Toray Industries, Inc.; Teijin Ltd.

Report Highlights

 The crystalline resins product segment dominated for the maximum revenue share of more than 62% in 2020 and is expected to maintain its dominance throughout the forecast period. The Polyethylene (PE) resin sub-segment accounted for a prominent share in the crystalline type segment owing to their increasing demand from food packaging, stretch wrap, medical applications, etc.

The engineering plastic segment held for a small share in the market. However, it is expected to witness an above-average growth during the forecast period as these plastics possess good mechanical & thermal properties, wear & chemical resistance, and dimensional stability. The super engineering plastic segment is expected to grow at a CAGR of 4.5% during the forecast period.

The packaging segment accounted for the largest revenue share of more than 36% in 2020 and is projected to expand further at a steady CAGR over the forecast period. The growing packaging industry supported by the increasing demand for packaged foods and beverages will boost the segment growth.

China accounted for the highest revenue share of 33% in 2020. China is self-sufficient in terms of plastic production, with an adequate number of plants and production capacity required to fulfill the local demand. Furthermore, China exports various types of plastics to neighboring countries owing to a large production base.

Europe is expected to witness a below-average growth rate over the coming years. Stringent environmental regulations by regulatory bodies, such as the European Chemicals Agency (ECHA) and the European Commission, characterize the market in Europe.

Key Players

  • Dow, Inc.
  • Evonik Industries AG
  • Sumitomo Chemical
  • Arkema
  • Celanese Corp.
  • Eastman Chemical Company
  • Chevron Phillips Chemical Co., LLC
  • Lotte Chemical Corp.
  • Covestro AG
  • Toray Industries, Inc.
  • Teijin Ltd.

Market Segmentation

  • Product
    • Crystalline
      • Epoxy
      • Polyethylene
      • Polypropylene
    • Non-crystalline
      • Polyvinyl Chloride (PVC)
      • Polystyrene (PS)
      • Acrylonitrile Butadiene Styrene (ABS)
      • Polymethyl Methacrylate (PMMA)
    • Engineering Plastic
      • Nylon
      • Polybutylene Terephthalate (PBT)
      • Polycarbonate (PC)
      • Polyamide
    • Super Engineering Plastic
      • Polyphenylene Sulfide (PPS)
      • Polyether Ether Ketone (PEEK)
      • Liquid Crystal Polymer (LCP)
  • Application
    • Packaging
      • Food
      • Beverage
      • Medical
      • Retail
      • Others
    • Automotive
    • Construction
    • Electrical & Electronics
      • OA Equipment and Home Appliances
      • Electronic Materials
      • Others
    • Logistics
    • Consumer Goods
    • Textiles & Clothing
      • Clothing
      • Industrial use
      • Others
    • Furniture & Bedding
    • Agriculture
    • Medical Devices
    • Others
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Poland
      • Spain
    • China
    • Asia
      • India
      • Japan
      • Thailand
      • Malaysia
      • Indonesia
      • Vietnam
      • Singapore
      • Philippines
    • Pacific
    • Central & South America
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • United Arab Emirates (UAE)
      • Oman

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape        List of Suppliers        List of Buyers

Chapter 7.  Global Plastic Resins Market, By Product

7.1.  Plastic Resins Market, by Product, 2021-2030

7.1.1.    Crystalline        Market Revenue and Forecast (2017-2030)

7.1.2.    Non-crystalline        Market Revenue and Forecast (2017-2030)

7.1.3.    Engineering Plastic        Market Revenue and Forecast (2017-2030)

7.1.4.    Super Engineering Plastic        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Plastic Resins Market, By Application

8.1.  Plastic Resins Market, by Application, 2021-2030

8.1.1.    Packaging        Market Revenue and Forecast (2017-2030)

8.1.2.    Automotive        Market Revenue and Forecast (2017-2030)

8.1.3.    Construction        Market Revenue and Forecast (2017-2030)

8.1.4.    Electrical & Electronics        Market Revenue and Forecast (2017-2030)

8.1.5.    Logistics        Market Revenue and Forecast (2017-2030)

8.1.6.    Consumer Goods        Market Revenue and Forecast (2017-2030)

8.1.7.    Textiles & Clothing        Market Revenue and Forecast (2017-2030)

8.1.8.    Furniture & Bedding        Market Revenue and Forecast (2017-2030)

8.1.9.    Agriculture        Market Revenue and Forecast (2017-2030)

8.1.10.  Medical Devices      Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Plastic Resins Market, Regional Estimates and Trend Forecast

9.1.  North America

9.1.1.    Market Revenue and Forecast, by Product (2017-2030)

9.1.2.    Market Revenue and Forecast, by Application (2017-2030)

9.1.3.    U.S.        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.1.4.    Rest of North America        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.2.  Europe

9.2.1.    Market Revenue and Forecast, by Product (2017-2030)

9.2.2.    Market Revenue and Forecast, by Application (2017-2030)

9.2.3.    UK        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.2.4.    Germany        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.2.5.    France        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.2.6.    Rest of Europe        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.3.  APAC

9.3.1.    Market Revenue and Forecast, by Product (2017-2030)

9.3.2.    Market Revenue and Forecast, by Application (2017-2030)

9.3.3.    India        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.3.4.    China        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.3.5.    Japan        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.3.6.    Rest of APAC        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.4.  MEA

9.4.1.    Market Revenue and Forecast, by Product (2017-2030)

9.4.2.    Market Revenue and Forecast, by Application (2017-2030)

9.4.3.    GCC        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.4.4.    North Africa        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.4.5.    South Africa        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.4.6.    Rest of MEA        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.5.  Latin America

9.5.1.    Market Revenue and Forecast, by Product (2017-2030)

9.5.2.    Market Revenue and Forecast, by Application (2017-2030)

9.5.3.    Brazil        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

9.5.4.    Rest of LATAM        Market Revenue and Forecast, by Product (2017-2030)        Market Revenue and Forecast, by Application (2017-2030)

Chapter 10.  Company Profiles

10.1.              SABIC

10.1.1.  Company Overview

10.1.2.  Product Offerings

10.1.3.  Financial Performance

10.1.4.  Recent Initiatives

10.2.              Dow, Inc.

10.2.1.  Company Overview

10.2.2.  Product Offerings

10.2.3.  Financial Performance

10.2.4.  Recent Initiatives

10.3.              Evonik Industries AG

10.3.1.  Company Overview

10.3.2.  Product Offerings

10.3.3.  Financial Performance

10.3.4.  Recent Initiatives

10.4.              Sumitomo Chemical

10.4.1.  Company Overview

10.4.2.  Product Offerings

10.4.3.  Financial Performance

10.4.4.  Recent Initiatives

10.5.              Arkema

10.5.1.  Company Overview

10.5.2.  Product Offerings

10.5.3.  Financial Performance

10.5.4.  Recent Initiatives

10.6.              Celanese Corp.

10.6.1.  Company Overview

10.6.2.  Product Offerings

10.6.3.  Financial Performance

10.6.4.  Recent Initiatives

10.7.              Eastman Chemical Company

10.7.1.  Company Overview

10.7.2.  Product Offerings

10.7.3.  Financial Performance

10.7.4.  Recent Initiatives

10.8.              Chevron Phillips Chemical Co., LLC

10.8.1.  Company Overview

10.8.2.  Product Offerings

10.8.3.  Financial Performance

10.8.4.  Recent Initiatives

10.9.              Lotte Chemical Corp.

10.9.1.  Company Overview

10.9.2.  Product Offerings

10.9.3.  Financial Performance

10.9.4.  Recent Initiatives

10.10.           Covestro AG

10.10.1.               Company Overview

10.10.2.               Product Offerings

10.10.3.               Financial Performance

10.10.4.               Recent Initiatives

Chapter 11.  Research Methodology

11.1.              Primary Research

11.2.              Secondary Research

11.3.              Assumptions

Chapter 12.  Appendix

12.1.              About Us

Glossary of Terms

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