News

The global plastic resins market size is expected to be worth around US$ 980.4 billion by 2030, according to a new report by Vision Research Reports.

The global plastic resins market size was valued at US$ 716.0 billion in 2020 and is anticipated to grow at a CAGR of 6.4% during forecast period 2021 to 2030.

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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.

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.

Key Players

• BASF SE
• SABIC
• 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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