Plastic Market Synopsis

Plastic Market Size Was Valued at USD  624.90 Billion in 2023, and is Projected to Reach USD  1,003.17 Billion by 2032, Growing at a CAGR of 5.40% From 2024-2032.

Plastic is a general term for a category of materials, primarily organic, that may be molded when softened by heat and chemicals. These polymers are obtained mainly from petrochemicals although they can be from renewable raw materials. The versatility of plastics has made them indispensable in several sectors today; packaging, construction, medicine, and electrical/VISPS. Some of the factors that can explain their enormous use include; They are lightweight, they do not corrode easily and are relatively cheaper to manufacture. Nevertheless, use of plastics has lead to environmental concerns especially on the issue of waste and polythene pollution has received major concern hence boost in recycling process and research on bio-degradable material.

  • Market on plastics refers to a newaderoand expanding segment of the economy that involves the production, distribution and use of various types of plastics and plastic products. This market is important in a vast range of industries such as packaging and automotive, construction and electronics in addition to healthcare. With regard to the types of plastics in use today they are flexibility plus, durability plus cheap Astreams of plastics across the globe has been said to be on the rise to rapidly grow due to the light weight but high strength materials they act as today But this growth also comes with a lot of problems mainly towards environmentalism and pollution and waste management.
  •  The initial differentiation of the major type of the small amount of plastic also often correlates with the polymer type and may be divided into polyethylene, polypropylene, polyvinyl chloride, polystyrene, and polyethylene terephthalate. The characteristics that define one type of polymer from other types of polymers are unique for every type of usage. That is, PE is extensively applied in films, containers, and household utensils for its advantage in flexibility and chemical resistance. PP finds its popularity in automotive parts, textiles and packaging material due to high melting point and strength. PVC is widely used in pipes and fittings for constructions while, PS is used in trishaws, disposable utensils and containers, electrical insulations, and packaging material. PET is used for packaging of beverages and food products usually because of good clarity and high strength.
  •  The following are some variables that can be associated with the expansion of the plastic market. Shift in the population demographics and Consumers lifestyle in today’s society has led to more packaged goods and consequently created demand for plastic packing. This has also been directed by the automotive industry that is using lightweight materials to improve fuel economy and less emissions hence promoting the use of engineering plastics. In construction applications, plastics are used due to their durability, resistance to corrosion and ease of installation. The use of polymer science has been developed further with new technologies to incorporate high-performance plastic with better properties making more uses.
  • However, expansion is accompanied by numerous issues that relate to the environmental degradation of the plastic market. Single use of plastics has become a cause for major concern due to the disposal problems resulting in the world being surrounded by plastic himself. National and global authorities, as well as other regulatory entities, are starting to enact severe measures regarding the removal of plastic products and the calls for recycling. Some of the policy measures would require as follows; Ban on the use of single-use plastics, put into practice EPR schemes, and provide policy incentives for the promotion of biodegradable plastics. Such regulations are calling for more conservative and environmentally friendly material such as the bioplastics and the recycled plastics.
  •  currently there is still research being underway for development of better plastics in the market and this is an implication that plastics is an evolving market. Bio-plastics derived from plants, these include corn starch and Sugarcane are generally accepted as good organic substitutes to conventional plastics. Thus, a lot of improvement in terms of the Research and Development in recycle plastice recycling focusing on the technology in recycling plastics and the end product of recycle plastics is of desirable quality. Also, the trend of smart plastics, self-healing, shape memory, and conductivity is coming to light in different aspects of industries such as electronics and healthcare.
  • Distribution of the plastic market is in somewhat different categories across the regions. China and India region is the largest and growing market because of the growth in industrialization, urbanization, and consumers purchasing power. North America and Europe are other large zones of consumption but the emphasis is made on the environmental policies and highly developed recycling systems. In these zones, the focus is placed in restriction of plastic material and reinforcement of circularity. The Latin American and Africa regions are experiencing growth opportunities due to an increase in industries and investments in structures.
  • The discovered trend indicates that the future of the plastic market depends on the mouthful growth with proper production sustainability. Since the issue of the environment is still on the rise concerning market practices, the use of green technologies and sustainable material shall be crucial. It is probable that expenditure on research and development will increase by more so that the firms may develop products that are compliant with the legislation and the customer demands. Governments’ cooperation with key industries as well as consumers’ involvement will be vital in managing the plastic waste problem and promoting the circular economy. However, it is essential to notice that the market of plastics is still opened for developments and has numerous opportunities due to the constantly expanding field of applications and new materials development.

Plastic Market Trend Analysis

Increasing Demand for Biodegradable Plastics

  • The market of biodegradable plastics has expanded vastly in the recent past because of growing awareness and toughening of rules pertaining to use of plastics. The expansion for such management is as a result of multiple factors that are Market winds necessary for the consumer to embrace sustainable products only and sustainable management by the corporations that engage into the production of biodegradable products as well as rules and regulations that govern corporate America in buying of the biodegradable products on the market. New polymers which are biodegradable have come into the market with better performance characteristics than the traditional polymers, hence the possibility of using biodegradable polymers in packaging, agriculture, and consumer products among others.
  •  This has led to the increased use of biodegradable plastics by major corporations in order to meet this new standards thereby increasing the market growth. Also, improving production capabilities and increasing the number of production run are helping make biodegradable plastics cheaper hence, increasing the chance of their acceptance in different sectors. More efforts have been made all over the world to reduce the use of plastics, their impact on the environment, and consequently the need for biodegradable plastics will continue to experience a steep rise.

Expansion in Recycling Technologies

  • The technologies for recycling the plastic market are expanding greatly due to synergistic impacts of environmental, economic, and technological forces. Rising consciousness on plastics across the world and enforced government regulations are driving the necessity of higher recycling processes. The classical technique of recycling has been upgraded by innovations like chemical recycling and artificial intelligence reconnoitering systems, which make a large number of plastics reusable. Large scale funding from the public and private domain is boosting the recycling technology innovations at a faster pace.
  • New closed loop systems are introduced whereby companies deal with as many forms of plastic waste as possible, thus avoiding the use of virgin plastic production. There is a synergy among the key players in the industry starting from manufacturers to recyclers and even policy makers and this has brought about a circular economy where waste plastic is used to produce other valuable products. It is also important to note that customer pressure especially from the environmentally conscious customers is also driving businesses to incorporate recycled-plastics in their production lines. It is also pertinent to understand that the recycling technologies plastic market has the potential to grow at a very healthy rate which will act as agents of change to the future world and help in the conservation of plastics and also the reduction of plastics affecting the environment.

Plastic Market Segment Analysis:

Plastic Market is segmented based on product type, application, and end-user.

By Product Type, Polyethylene (PE ) segment is expected to dominate the market during the forecast period

  • In terms of product type, the market segment of plastic signifies the variety of different material that has distinct characteristics and uses Polyethylene or PE is one of the most popular types of plastics on the global market and is widely known for its low cost and versatility, and it is widely used in packaging and carrying containers and various household utensils. Polypropylene (PP) has very good resistance to chemical solvents as well as fatigue and, therefore, can be used widely in car parts, fabrics and containers. This material is known under the brand name Polyvinyl Chloride or PVC: it has high wear resistance and is used in constructions; pipes and fittings or medical equipment’s. A polymeric material: PS is disposable, LD, amorphous, useful for insulating and packaging material like, cutlery. Polyethylene Terephthalate (PET) are normally used for fresh /non-alcoholic beverages and food packaging due to its moisture & gases resistance. Polyurethane commonly referred to as PU is selected for its flexible and long-wearing characteristics in applications that are foam, elastomer, and coatings. Other thermoplastic called Acrylonitrile Butadiene Styrene (ABS) is also characterized by both high impact strength and rigidity that makes its uses in automotive industries, electronics products, toys and the like.
  • Polycarbonate (PC) is relatively azoic possessing very high impact and optical characteristics used in eyeglass lens, electronic and automotive glazing. Polylactic Acid (PLA), a totally biodegradable plastic product which is derived from renewable resources is fast upstaging the packaging/disposables market. In particular, plastics that are biodegradable have begun to appear more frequently thanks to concerns for the environment and government intervention. Compared to the traditional plastics, engineering plastics are characterized by higher mechanical and thermal performance and finding application in car manufacturing, aerospace and electronics. Its rather wide list of types emphasizes the material’s importance for different branches of industries due to innovational developments as well as the global tendencies towards sustainable development.

By Application  , Packaging segment held the largest share in 2023

  • The segments according to the application of the plastic show a variety of uses in the different field. Plastics are used because of their light weight, and strength in packaging, especially in food and beverages, and generic products. For construction, common items which are used include PVC and polyethylene for pipes, insulation, and windows in the form of frames as they are resistant to weather and can be easily fitted. Automotive industry utilizes plastics for trims, hoods, instrument panels, bumpers, fuel tanks and other parts to cut the overall weight of automobiles hence improving on fuel economies.
  •  Electrical and Electronics industry require plastics for insulation, casings and connections, aspects that allow for safety and efficiency. Toy, home use product, and furniture industries are that acquire consumer products from plastics because of its cheapness and flexibility in designs. Used in the manufacture of apparel materials such as polyester and nylon in the textile industry to give fabrics strength and workability. In medicine, they are used for disposable syringes, IV bags, and myriad medical products; they offer sterility and safety. Finally, in the field of agriculture, irrigation, green houses, mulch films and other uses of plastics leads to increased yields and rational use of resources. The usage of plastics in these sectors also shows that plastics are an essential part of recent industrialization and people’s everyday life.

Plastic Market Regional Insights:

Asia Pacific  is Expected to Dominate the Market Over the Forecast period

  • It is estimable that the Asia Pacific area will continue ruling the entire global market of plastic for the duration of the forecasted period owing to escalating industrialization, urbanization, and the increasing middle-class population. The key regions including China, India, Japan, and South Korea are showing a considerable demand for plastics in packaging, automotive, construction, and electronics sectors. As observed, China has the largest market share for plastics in the region due to great production and consumption headways as well as massive investment in the production and innovation of plastics.
  • Besides, the region has also displayed acceptable economic policies that have supported its competitive edge because of availability of raw material suppliers, and relatively cheaper labor than other regions. Furthermore, growing preference for bioplastic and the policy to ban plastic items in several countries of Asia Pacific is anticipated to boost the innovations and sustainable practices in the market. Thus, it is quite evident that the Asia Pacific plastic market will grow at a very high rate and will further strengthen its position on the global map.

Active Key Players in the Plastic Market

  • BASF SE (Germany)
  • SABIC (Saudi Arabia)
  • Dow, Inc. (US)
  • DuPont (US)
  • Evonik Industries AG (Germany)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • Arkema (France)
  • Celanese Corporation (US)
  • Eastman Chemical Company (US)
  • Chevron Phillips Chemical Co., LLC (US)
  • Lotte Chemical Corporation (South Korea)
  • Exxon Mobil Corporation (US)
  • Formosa Plastics Corporation (Taiwan)
  • Covestro AG (Germany)
  • Toray Industries, Inc. (Japan)
  • Mitsui & Co. Plastics Ltd. (Japan)
  • TEIJIN LIMITED (Japan)
  • INEOS Group ( Uk)
  • Eni S.p.A. (Italy)
  • LG Chem (South Korea)
  • LANXESS (Germany)
  • CHIMEI (Taiwan)
  • Other Key Players

Key Industry Developments in the Plastic Market

  • In December 2023, Biesterfeld AG and Celanese Corporation announced the expansion of their distribution partnership to boost their respective reach for plastics across the regions including Europe, Middle East & Africa, Southeast Asia, and Brazil.
  • In June 2023, MKS Plastics, announced their investment of USD 14 million for the expansion of their production facility in Tangipahoa Parish. The company estimates doubling its production capacity along with catering the customers across petroleum and chemical industry.

Plastic Market Scope:

Global Plastic Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 624.90 Bn.

Forecast Period 2024-32 CAGR:

5.40%

Market Size in 2032:

USD 1,003.17 Bn.

Segments Covered:

 By Product Type

  • Polyethylene (PE )
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Polystyrene (PS)
  • Polyethylene Terephthalate (PET)
  • Polyurethane (PU)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polycarbonate (PC)
  • Polylactic Acid (PLA)
  • Biodegradable Plastics
  • Engineering Plastics

By Application

  • Packaging
  • Construction
  • Automotive
  • Electrical & Electronics
  • Consumer Goods
  • Textile
  • Medical
  • Agriculture

By End-User Industry

  • Packaging Industry
  • Building & Construction Industry
  • Automotive Industry
  • Electrical & Electronics Industry
  • Consumer Goods Industry
  • Textile Industry
  • Medical & Healthcare Industry
  • Agriculture Industry

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Demand from Packaging Industry

Key Market Restraints:

  • Environmental Concerns and Regulatory Restrictions

Key Opportunities:

  • Expansion in Recycling Technologies

Companies Covered in the report:

  • BASF SE (Germany),SABIC (Saudi Arabia),Dow, Inc. (US),DuPont (US),Evonik Industries AG (Germany),Sumitomo Chemical Co., Ltd. (Japan),Arkema (France),Celanese Corporation (US),Eastman Chemical Company (US),Chevron Phillips Chemical Co., LLC (US),Lotte Chemical Corporation (South Korea),Exxon Mobil Corporation (US),and Other Major Players.

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Plastic Market by Product Type
 4.1 Plastic Market Snapshot and Growth Engine
 4.2 Plastic Market Overview
 4.3 Polyethylene
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Polyethylene: Geographic Segmentation Analysis
 4.4 High-Density Polyethylene
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 High-Density Polyethylene: Geographic Segmentation Analysis
 4.5 Low-Density Polyethylene
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Low-Density Polyethylene: Geographic Segmentation Analysis
 4.6 Linear Low-Density Polyethylene
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Linear Low-Density Polyethylene: Geographic Segmentation Analysis
 4.7 Polypropylene
  4.7.1 Introduction and Market Overview
  4.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.7.3 Key Market Trends, Growth Factors and Opportunities
  4.7.4 Polypropylene: Geographic Segmentation Analysis
 4.8 Polyvinyl Chloride
  4.8.1 Introduction and Market Overview
  4.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.8.3 Key Market Trends, Growth Factors and Opportunities
  4.8.4 Polyvinyl Chloride: Geographic Segmentation Analysis
 4.9 Polystyrene
  4.9.1 Introduction and Market Overview
  4.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.9.3 Key Market Trends, Growth Factors and Opportunities
  4.9.4 Polystyrene: Geographic Segmentation Analysis
 4.10 Expanded Polystyrene
  4.10.1 Introduction and Market Overview
  4.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.10.3 Key Market Trends, Growth Factors and Opportunities
  4.10.4 Expanded Polystyrene: Geographic Segmentation Analysis
 4.11 Polyethylene Terephthalate
  4.11.1 Introduction and Market Overview
  4.11.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.11.3 Key Market Trends, Growth Factors and Opportunities
  4.11.4 Polyethylene Terephthalate: Geographic Segmentation Analysis
 4.12 Polyurethane
  4.12.1 Introduction and Market Overview
  4.12.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.12.3 Key Market Trends, Growth Factors and Opportunities
  4.12.4 Polyurethane: Geographic Segmentation Analysis
 4.13 Acrylonitrile Butadiene Styrene
  4.13.1 Introduction and Market Overview
  4.13.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.13.3 Key Market Trends, Growth Factors and Opportunities
  4.13.4 Acrylonitrile Butadiene Styrene: Geographic Segmentation Analysis
 4.14 Polycarbonate
  4.14.1 Introduction and Market Overview
  4.14.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.14.3 Key Market Trends, Growth Factors and Opportunities
  4.14.4 Polycarbonate: Geographic Segmentation Analysis
 4.15 Polylactic Acid
  4.15.1 Introduction and Market Overview
  4.15.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.15.3 Key Market Trends, Growth Factors and Opportunities
  4.15.4 Polylactic Acid: Geographic Segmentation Analysis
 4.16 Biodegradable Plastics
  4.16.1 Introduction and Market Overview
  4.16.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.16.3 Key Market Trends, Growth Factors and Opportunities
  4.16.4 Biodegradable Plastics: Geographic Segmentation Analysis
 4.17 Engineering Plastics
  4.17.1 Introduction and Market Overview
  4.17.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.17.3 Key Market Trends, Growth Factors and Opportunities
  4.17.4 Engineering Plastics: Geographic Segmentation Analysis

Chapter 5: Plastic Market by Application
 5.1 Plastic Market Snapshot and Growth Engine
 5.2 Plastic Market Overview
 5.3 Packaging
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Packaging: Geographic Segmentation Analysis
 5.4 Construction
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Construction: Geographic Segmentation Analysis
 5.5 Automotive
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Automotive: Geographic Segmentation Analysis
 5.6 Electrical&Electronics
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Electrical&Electronics: Geographic Segmentation Analysis
 5.7 ConsumerGoods
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 ConsumerGoods: Geographic Segmentation Analysis
 5.8 Textile
  5.8.1 Introduction and Market Overview
  5.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.8.3 Key Market Trends, Growth Factors and Opportunities
  5.8.4 Textile: Geographic Segmentation Analysis
 5.9 Medical
  5.9.1 Introduction and Market Overview
  5.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.9.3 Key Market Trends, Growth Factors and Opportunities
  5.9.4 Medical: Geographic Segmentation Analysis
 5.10 Agriculture
  5.10.1 Introduction and Market Overview
  5.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.10.3 Key Market Trends, Growth Factors and Opportunities
  5.10.4 Agriculture: Geographic Segmentation Analysis

Chapter 6: Plastic Market by End-UseIndustry
 6.1 Plastic Market Snapshot and Growth Engine
 6.2 Plastic Market Overview
 6.3 PackagingIndustry
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 PackagingIndustry: Geographic Segmentation Analysis
 6.4 Building & ConstructionIndustry
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Building & ConstructionIndustry: Geographic Segmentation Analysis
 6.5 Automotive Industry
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Automotive Industry: Geographic Segmentation Analysis
 6.6 Electrical & Electronics Industry
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Electrical & Electronics Industry: Geographic Segmentation Analysis
 6.7 Consumer Goods Industry
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Consumer Goods Industry: Geographic Segmentation Analysis
 6.8 Textile Industry
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Textile Industry: Geographic Segmentation Analysis
 6.9 Medical & Healthcare Industry
  6.9.1 Introduction and Market Overview
  6.9.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.9.3 Key Market Trends, Growth Factors and Opportunities
  6.9.4 Medical & Healthcare Industry: Geographic Segmentation Analysis
 6.10 Agriculture Industry
  6.10.1 Introduction and Market Overview
  6.10.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.10.3 Key Market Trends, Growth Factors and Opportunities
  6.10.4 Agriculture Industry: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Plastic Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 BASF SE (GERMANY)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 SABIC (SAUDI ARABIA)
 7.4 DOW
 7.5 INC (US)
 7.6 DUPONT (US)
 7.7 EVONIK INDUSTRIES AG (GERMANY)
 7.8 SUMITOMO CHEMICAL CO
 7.9 LTD (JAPAN)
 7.10 ARKEMA (FRANCE)
 7.11 CELANESE CORPORATION (US)
 7.12 EASTMAN CHEMICAL COMPANY (US)
 7.13 CHEVRON PHILLIPS CHEMICAL CO LLC (US)
 7.14 LOTTE CHEMICAL CORPORATION (SOUTH KOREA)
 7.15 EXXON MOBIL CORPORATION (US)
 7.16 FORMOSA PLASTICS CORPORATION (TAIWAN)
 7.17 COVESTRO AG (GERMANY)
 7.18 TORAY INDUSTRIES INC
 7.19 (JAPAN)
 7.20 MITSUI & CO
 7.21 PLASTICS LTD
 7.22 (JAPAN)
 7.23 TEIJIN LIMITED (JAPAN)
 7.24 INEOS GROUP (UK)
 7.25 ENI S.P.A
 7.26 (ITALY)
 7.27 LG CHEM (SOUTH KOREA)
 7.28 LANXESS (GERMANY)
 7.29 CHIMEI (TAIWAN)
 7.30 OTHER ACTIVE PLAYERS

Chapter 8: Global Plastic Market By Region
 8.1 Overview
8.2. North America Plastic Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Product Type
   8.2.4.1 Polyethylene
   8.2.4.2 High-Density Polyethylene
   8.2.4.3 Low-Density Polyethylene
   8.2.4.4 Linear Low-Density Polyethylene
   8.2.4.5 Polypropylene
   8.2.4.6 Polyvinyl Chloride
   8.2.4.7 Polystyrene
   8.2.4.8 Expanded Polystyrene
   8.2.4.9 Polyethylene Terephthalate
   8.2.4.10 Polyurethane
   8.2.4.11 Acrylonitrile Butadiene Styrene
   8.2.4.12 Polycarbonate
   8.2.4.13 Polylactic Acid
   8.2.4.14 Biodegradable Plastics
   8.2.4.15 Engineering Plastics
  8.2.5 Historic and Forecasted Market Size By Application
   8.2.5.1 Packaging
   8.2.5.2 Construction
   8.2.5.3 Automotive
   8.2.5.4 Electrical&Electronics
   8.2.5.5 ConsumerGoods
   8.2.5.6 Textile
   8.2.5.7 Medical
   8.2.5.8 Agriculture
  8.2.6 Historic and Forecasted Market Size By End-UseIndustry
   8.2.6.1 PackagingIndustry
   8.2.6.2 Building & ConstructionIndustry
   8.2.6.3 Automotive Industry
   8.2.6.4 Electrical & Electronics Industry
   8.2.6.5 Consumer Goods Industry
   8.2.6.6 Textile Industry
   8.2.6.7 Medical & Healthcare Industry
   8.2.6.8 Agriculture Industry
  8.2.7 Historic and Forecast Market Size by Country
   8.2.7.1 US
   8.2.7.2 Canada
   8.2.7.3 Mexico
8.3. Eastern Europe Plastic Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Product Type
   8.3.4.1 Polyethylene
   8.3.4.2 High-Density Polyethylene
   8.3.4.3 Low-Density Polyethylene
   8.3.4.4 Linear Low-Density Polyethylene
   8.3.4.5 Polypropylene
   8.3.4.6 Polyvinyl Chloride
   8.3.4.7 Polystyrene
   8.3.4.8 Expanded Polystyrene
   8.3.4.9 Polyethylene Terephthalate
   8.3.4.10 Polyurethane
   8.3.4.11 Acrylonitrile Butadiene Styrene
   8.3.4.12 Polycarbonate
   8.3.4.13 Polylactic Acid
   8.3.4.14 Biodegradable Plastics
   8.3.4.15 Engineering Plastics
  8.3.5 Historic and Forecasted Market Size By Application
   8.3.5.1 Packaging
   8.3.5.2 Construction
   8.3.5.3 Automotive
   8.3.5.4 Electrical&Electronics
   8.3.5.5 ConsumerGoods
   8.3.5.6 Textile
   8.3.5.7 Medical
   8.3.5.8 Agriculture
  8.3.6 Historic and Forecasted Market Size By End-UseIndustry
   8.3.6.1 PackagingIndustry
   8.3.6.2 Building & ConstructionIndustry
   8.3.6.3 Automotive Industry
   8.3.6.4 Electrical & Electronics Industry
   8.3.6.5 Consumer Goods Industry
   8.3.6.6 Textile Industry
   8.3.6.7 Medical & Healthcare Industry
   8.3.6.8 Agriculture Industry
  8.3.7 Historic and Forecast Market Size by Country
   8.3.7.1 Bulgaria
   8.3.7.2 The Czech Republic
   8.3.7.3 Hungary
   8.3.7.4 Poland
   8.3.7.5 Romania
   8.3.7.6 Rest of Eastern Europe
8.4. Western Europe Plastic Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Product Type
   8.4.4.1 Polyethylene
   8.4.4.2 High-Density Polyethylene
   8.4.4.3 Low-Density Polyethylene
   8.4.4.4 Linear Low-Density Polyethylene
   8.4.4.5 Polypropylene
   8.4.4.6 Polyvinyl Chloride
   8.4.4.7 Polystyrene
   8.4.4.8 Expanded Polystyrene
   8.4.4.9 Polyethylene Terephthalate
   8.4.4.10 Polyurethane
   8.4.4.11 Acrylonitrile Butadiene Styrene
   8.4.4.12 Polycarbonate
   8.4.4.13 Polylactic Acid
   8.4.4.14 Biodegradable Plastics
   8.4.4.15 Engineering Plastics
  8.4.5 Historic and Forecasted Market Size By Application
   8.4.5.1 Packaging
   8.4.5.2 Construction
   8.4.5.3 Automotive
   8.4.5.4 Electrical&Electronics
   8.4.5.5 ConsumerGoods
   8.4.5.6 Textile
   8.4.5.7 Medical
   8.4.5.8 Agriculture
  8.4.6 Historic and Forecasted Market Size By End-UseIndustry
   8.4.6.1 PackagingIndustry
   8.4.6.2 Building & ConstructionIndustry
   8.4.6.3 Automotive Industry
   8.4.6.4 Electrical & Electronics Industry
   8.4.6.5 Consumer Goods Industry
   8.4.6.6 Textile Industry
   8.4.6.7 Medical & Healthcare Industry
   8.4.6.8 Agriculture Industry
  8.4.7 Historic and Forecast Market Size by Country
   8.4.7.1 Germany
   8.4.7.2 UK
   8.4.7.3 France
   8.4.7.4 Netherlands
   8.4.7.5 Italy
   8.4.7.6 Russia
   8.4.7.7 Spain
   8.4.7.8 Rest of Western Europe
8.5. Asia Pacific Plastic Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Product Type
   8.5.4.1 Polyethylene
   8.5.4.2 High-Density Polyethylene
   8.5.4.3 Low-Density Polyethylene
   8.5.4.4 Linear Low-Density Polyethylene
   8.5.4.5 Polypropylene
   8.5.4.6 Polyvinyl Chloride
   8.5.4.7 Polystyrene
   8.5.4.8 Expanded Polystyrene
   8.5.4.9 Polyethylene Terephthalate
   8.5.4.10 Polyurethane
   8.5.4.11 Acrylonitrile Butadiene Styrene
   8.5.4.12 Polycarbonate
   8.5.4.13 Polylactic Acid
   8.5.4.14 Biodegradable Plastics
   8.5.4.15 Engineering Plastics
  8.5.5 Historic and Forecasted Market Size By Application
   8.5.5.1 Packaging
   8.5.5.2 Construction
   8.5.5.3 Automotive
   8.5.5.4 Electrical&Electronics
   8.5.5.5 ConsumerGoods
   8.5.5.6 Textile
   8.5.5.7 Medical
   8.5.5.8 Agriculture
  8.5.6 Historic and Forecasted Market Size By End-UseIndustry
   8.5.6.1 PackagingIndustry
   8.5.6.2 Building & ConstructionIndustry
   8.5.6.3 Automotive Industry
   8.5.6.4 Electrical & Electronics Industry
   8.5.6.5 Consumer Goods Industry
   8.5.6.6 Textile Industry
   8.5.6.7 Medical & Healthcare Industry
   8.5.6.8 Agriculture Industry
  8.5.7 Historic and Forecast Market Size by Country
   8.5.7.1 China
   8.5.7.2 India
   8.5.7.3 Japan
   8.5.7.4 South Korea
   8.5.7.5 Malaysia
   8.5.7.6 Thailand
   8.5.7.7 Vietnam
   8.5.7.8 The Philippines
   8.5.7.9 Australia
   8.5.7.10 New Zealand
   8.5.7.11 Rest of APAC
8.6. Middle East & Africa Plastic Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Product Type
   8.6.4.1 Polyethylene
   8.6.4.2 High-Density Polyethylene
   8.6.4.3 Low-Density Polyethylene
   8.6.4.4 Linear Low-Density Polyethylene
   8.6.4.5 Polypropylene
   8.6.4.6 Polyvinyl Chloride
   8.6.4.7 Polystyrene
   8.6.4.8 Expanded Polystyrene
   8.6.4.9 Polyethylene Terephthalate
   8.6.4.10 Polyurethane
   8.6.4.11 Acrylonitrile Butadiene Styrene
   8.6.4.12 Polycarbonate
   8.6.4.13 Polylactic Acid
   8.6.4.14 Biodegradable Plastics
   8.6.4.15 Engineering Plastics
  8.6.5 Historic and Forecasted Market Size By Application
   8.6.5.1 Packaging
   8.6.5.2 Construction
   8.6.5.3 Automotive
   8.6.5.4 Electrical&Electronics
   8.6.5.5 ConsumerGoods
   8.6.5.6 Textile
   8.6.5.7 Medical
   8.6.5.8 Agriculture
  8.6.6 Historic and Forecasted Market Size By End-UseIndustry
   8.6.6.1 PackagingIndustry
   8.6.6.2 Building & ConstructionIndustry
   8.6.6.3 Automotive Industry
   8.6.6.4 Electrical & Electronics Industry
   8.6.6.5 Consumer Goods Industry
   8.6.6.6 Textile Industry
   8.6.6.7 Medical & Healthcare Industry
   8.6.6.8 Agriculture Industry
  8.6.7 Historic and Forecast Market Size by Country
   8.6.7.1 Turkey
   8.6.7.2 Bahrain
   8.6.7.3 Kuwait
   8.6.7.4 Saudi Arabia
   8.6.7.5 Qatar
   8.6.7.6 UAE
   8.6.7.7 Israel
   8.6.7.8 South Africa
8.7. South America Plastic Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Product Type
   8.7.4.1 Polyethylene
   8.7.4.2 High-Density Polyethylene
   8.7.4.3 Low-Density Polyethylene
   8.7.4.4 Linear Low-Density Polyethylene
   8.7.4.5 Polypropylene
   8.7.4.6 Polyvinyl Chloride
   8.7.4.7 Polystyrene
   8.7.4.8 Expanded Polystyrene
   8.7.4.9 Polyethylene Terephthalate
   8.7.4.10 Polyurethane
   8.7.4.11 Acrylonitrile Butadiene Styrene
   8.7.4.12 Polycarbonate
   8.7.4.13 Polylactic Acid
   8.7.4.14 Biodegradable Plastics
   8.7.4.15 Engineering Plastics
  8.7.5 Historic and Forecasted Market Size By Application
   8.7.5.1 Packaging
   8.7.5.2 Construction
   8.7.5.3 Automotive
   8.7.5.4 Electrical&Electronics
   8.7.5.5 ConsumerGoods
   8.7.5.6 Textile
   8.7.5.7 Medical
   8.7.5.8 Agriculture
  8.7.6 Historic and Forecasted Market Size By End-UseIndustry
   8.7.6.1 PackagingIndustry
   8.7.6.2 Building & ConstructionIndustry
   8.7.6.3 Automotive Industry
   8.7.6.4 Electrical & Electronics Industry
   8.7.6.5 Consumer Goods Industry
   8.7.6.6 Textile Industry
   8.7.6.7 Medical & Healthcare Industry
   8.7.6.8 Agriculture Industry
  8.7.7 Historic and Forecast Market Size by Country
   8.7.7.1 Brazil
   8.7.7.2 Argentina
   8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research
 

Plastic Market Scope:

Global Plastic Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD 624.90 Bn.

Forecast Period 2024-32 CAGR:

5.40%

Market Size in 2032:

USD 1,003.17 Bn.

Segments Covered:

 By Product Type

  • Polyethylene (PE )
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Polystyrene (PS)
  • Polyethylene Terephthalate (PET)
  • Polyurethane (PU)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polycarbonate (PC)
  • Polylactic Acid (PLA)
  • Biodegradable Plastics
  • Engineering Plastics

By Application

  • Packaging
  • Construction
  • Automotive
  • Electrical & Electronics
  • Consumer Goods
  • Textile
  • Medical
  • Agriculture

By End-User Industry

  • Packaging Industry
  • Building & Construction Industry
  • Automotive Industry
  • Electrical & Electronics Industry
  • Consumer Goods Industry
  • Textile Industry
  • Medical & Healthcare Industry
  • Agriculture Industry

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Growing Demand from Packaging Industry

Key Market Restraints:

  • Environmental Concerns and Regulatory Restrictions

Key Opportunities:

  • Expansion in Recycling Technologies

Companies Covered in the report:

  • BASF SE (Germany),SABIC (Saudi Arabia),Dow, Inc. (US),DuPont (US),Evonik Industries AG (Germany),Sumitomo Chemical Co., Ltd. (Japan),Arkema (France),Celanese Corporation (US),Eastman Chemical Company (US),Chevron Phillips Chemical Co., LLC (US),Lotte Chemical Corporation (South Korea),Exxon Mobil Corporation (US),and Other Major Players.
Please Wait...

Frequently Asked Questions :

What would be the forecast period in the Plastic Market research report?

The forecast period in the Plastic Market research report is 2024-2032.

Who are the key players in the Plastic Market?

BASF SE (Germany),SABIC (Saudi Arabia),Dow, Inc. (US),DuPont (US),Evonik Industries AG (Germany),Sumitomo Chemical Co., Ltd. (Japan),Arkema (France),Celanese Corporation (US),Eastman Chemical Company (US),Chevron Phillips Chemical Co., LLC (US),Lotte Chemical Corporation (South Korea),Exxon Mobil Corporation (US),and Other Major Players.

What are the segments of the Plastic Market?

The Plastic Market is segmented into Product Type,  Application , End-User and Region. By Product Type, the market is categorized into Polyethylene (PE), High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE),Polypropylene (PP),Polyvinyl Chloride (PVC),Polystyrene (PS): Expanded Polystyrene (EPS),Polyethylene Terephthalate (PET), Polyurethane (PU), Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Polylactic Acid (PLA), Biodegradable Plastics, Engineering Plastics.ByApplication, the market is categorized into Packaging, Construction, Automotive,Electrical&Electronics,ConsumerGoods,Textile,Medical,Agriculture.ByEnd-Use Industry, the market is categorized into PackagingIndustry,Building&ConstructionIndustry, Automotive Industry, Electrical & Electronics Industry, Consumer Goods Industry, Textile Industry, Medical & Healthcare Industry, Agriculture Industry. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Plastic Market?

Plastic is a general term for a category of materials, primarily organic, that may be molded when softened by heat and chemicals. These polymers are obtained mainly from petrochemicals although they can be from renewable raw materials. The versatility of plastics has made them indispensable in several sectors today; packaging, construction, medicine, and electrical/VISPS. Some of the factors that can explain their enormous use include; They are lightweight, they do not corrode easily and are relatively cheaper to manufacture. Nevertheless, use of plastics has lead to environmental concerns especially on the issue of waste and polythene pollution has received major concern hence boost in recycling process and research on bio-degradable material.

How big is the Plastic Market?

Plastic Market Size Was Valued at USD  624.90 Billion in 2023, and is Projected to Reach USD  1,003.17 Billion by 2032, Growing at a CAGR of 5.40% From 2024-2032.