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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Philippines Plastic Market Size
The Philippines plastic market reached around USD 1929.2 million in 2023. The market is projected to grow at a CAGR of 6.4% between 2024 and 2032 to reach nearly USD 3371.6 million by 2032.
| Philippines Plastic Market Report Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical Period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | 1,929.2 |
| Market Size 2032 | USD Million | 3,371.6 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 6.4% |
| CAGR 2024-2032 - Market by Type | Polyvinyl Chloride | 7.1% |
| CAGR 2024-2032 - Market by End Use | Housewares | 7.2% |
| 2023 Market Share by End Use | Packaging | 47.6% |
Philippines Plastic Market Outlook
- As per the World Bank, 2.7 million tons of plastic waste is generated each year in the Philippines.
- In 2018, the Philippines’ plastic industry contributed USD $2.3 billion to the domestic GDP.
- The Philippines annually recycles 28% of its key plastic resins, which indicates significant growth potential for this market.
Philippines Plastic Market Report Snapshots
Philippines Plastic Market Size
Philippines Plastic Market Growth
Philippines Plastic Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached nearly USD 1929.2 million in 2023.
The market is projected to grow at a CAGR of 6.4% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 3371.6 million in 2032.
The different types of plastics in the market are polyethylene, polyethylene terephthalate, polyvinyl chloride, polypropylene, polycarbonate, polyurethane, and polystyrene, among others.
The different applications of plastics are injection moulding, blow moulding, casting, thermoforming, and extrusion, among others.
The different end users of plastics include packaging, building and construction, automotive and transportation, electrical and electronics, housewares, furniture, and medical devices, among others.
The key market players are Sumitomo Chemical Co. Ltd., DuPont de Nemours Inc., JG Summit Holdings, Inc. (JG Summit Olefins Corporation), LyondellBasell Industries N.V., NPC Alliance Corporation (NPCA), Petron Corporation, Philippine Resins Industries, Inc., Chemrez Technologies, Inc., and Nan Ya Plastic Corporation, among others.
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