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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Plastic Resins Market Growth
The global plastic resins industry is being driven by the heightened demand for plastic resins in various industry verticals including construction, automotive, packaging, and consumer goods, among others. Meanwhile, the rising demand for plastics in the manufacturing industry for the production of electronic devices and appliances is expected to provide a boost to the overall market growth. Moreover, the thriving construction industry is also predicted to propel the demand for the product in the forecast period. In addition, the exponential demand for plastic resins in the production of exterior as well as interior of automobiles is predicted to bolster the market growth, which is fuelled by the rising disposable incomes and increased demand for passenger vehicles among consumers. In 2021, plastic resins witnessed a robust demand in the production of disposable surgical wear such as gloves, gowns, hair covers, and protective shoes, among others, as the rampant spread of COVID-19 led to the increased adoption of protective gears around the globe.
Plastic Resins Market Report Snapshots
*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
In 2023, the global plastic resins market attained a value of nearly USD 638.18 billion.
The market is projected to grow at a CAGR of 2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 762.69 billion by 2032.
The major drivers of the industry, such as the increased demand for plastics in the automotive and construction industry, rising demand for plastic resins in the manufacturing and packaging industry, heightened investments in the manufacturing sector, growing demand for plastic goods, and the rapid investments in the R&D of plastic resins manufacturing, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising demand for plastic resins across various industry verticals.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant products include polyethylene terephthalate (PET), high density polyethylene (HDPE), polyvinyl chloride (PVC), low density polyethylene (LDPE), polypropylene (PP), and polystyrene (PS), among others.
The significant applications include packaging, automotive, construction, electrical and electronics, and consumer goods, among others.
The major players in the industry are Arkema S.A., Celanese Corporation, DuPont de Nemours, Inc., Evonik Industries AG, and Formosa Plastics Corporation, among others.
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