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Plastics Industry Growth and Prospects

Plastics Industry Data Book - Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market

Plastics Industry Data Book | Forecast 2030

Plastics Industry Data Book – Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market

Grand View Research’s plastics industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

 

Access the Global Plastics Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

 

Plastic Resins Market Report Highlights

  • The global plastic resins market was valued at USD 731.25 billion in 2021 and is estimated to grow at a CAGR of 4.5% from 2022 to 2030

 

  • Crystalline resins (epoxy, polyethylene, and propylene) segment accounted for a prominent share in the market by the end of 2021 and is further expected to witness maximum growth over the forecast period

 

  • As of 2021, China accounted for the maximum revenue share in the market, with 33.0%. Rising consumer disposable income in the country and ascending demand for luxury cars are expected to have a positive impact on the automotive industry

 

  • The advent of bio-based plastic resins has played a prominent role in food and beverage, and pharmaceutical applications. Polymers such as PET and PC are increasingly utilized in the beverages packaging and consumer goods sector

 

Order your copy of the Free Sample of “Plastics Industry Data Book – Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

 

Plastic Additives Market Report Highlights

 

  • Extended consumer base, rapid urbanization and increasing disposable income across various parts across the globe has led to an increase in the overall usage of plastic additives. Rapid industrializations coupled with increasing focus on maximizing industrial output, particularly in emerging economies including China, India and Brazil, is expected to drive the market at a fast pace over the forecast period. The global plastic additives industry is anticipated to reach USD 62.50 billion by 2022.

 

  • Plasticizers dominated the global market accounting for 51.7% of the volume share in 2014. However, they are expected to lose significant market over the forecast period owing to their carcinogenic properties. The product is being banned from its usage in child care articles and toys, across numerous regions including Europe due to its toxic nature. This may result in moderate growth of the segment over the forecast period.

 

Plastic Compounds Market Report Highlights

 

  • In terms of revenue, the automotive end-use segment accounted for the largest revenue share of the global market in 2020 and is expected to witness prominent growth over the forecast period

 

  • Asia Pacific was the dominant regional market in 2020 owing to the growing demand for automobiles in the region coupled with favorable FDI norms by various governments encouraging the adoption of Electric Vehicles (EVs)

 

  • Strategic partnerships, capacity expansions, and new product developments are popular strategies adopted by a majority of players operating in this market

 

  • For instance, in January 2021, Eurostar Engineering Plastics was acquired by Ascend Performance Materials, a Houston-based manufacturer of polyamide 66 resin

 

  • This acquisition helped both the companies to expand their compounding product market globally

 

Recycled Plastics Market Report Highlights

 

  • The building & construction application segment is expected to witness the fastest CAGR over the forecast period, in terms of revenue

 

  • The segment growth is attributed to the rising demand for recycled plastics in composite lumber, roofing tiles, insulation, rocks, and fences

 

  • The electrical & electronics application segment accounted for the maximum revenue share in 2021

 

  • This is attributed to the high demand for lightweight, durable electronics and electrically well-insulated products for reduced heat loss and improved performance of the electronic components and products

 

  • Asia Pacific accounted for the largest revenue share in 2021. The market in China recycled is estimated to witness significant growth to reach a net worth of USD 17.3 billion by 2030

 

Competitive Insights

The global plastics industry is fragmented in nature with the presence of various key players such as BASF SE, Dow Inc., DuPont, Evonik Industries AG, SABIC, Sumitomo Chemical Co., Ltd., Arkema, and Celanese Corporation as well as a few medium and small regional players operating in different parts of the world. The global plastic molding companies face intense competition from each other as well as from the regional players who have strong distribution networks and good knowledge about suppliers & regulations.

 

The companies in the market compete on the basis of product quality offered and the technology used for the production of plastics. Major players compete on the basis of application development capability and new technologies used in product formulation. Recognized players such as BASF SE are investing in research & development activities to formulate new and advanced plastics, which gives them a competitive edge over the other players.

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