PLASTIC RESINS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The plastic resins market is estimated to be valued at USD 833.98 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. The plastic resins market has been growing steadily over the past few decades. Plastic resins refer to basic organic polymers that can be molded or shaped, usually by the application of heat and pressure. They are the primary raw materials used in the production of a wide variety of plastic products across industries. Some of the commonly used plastic resins include polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polyurethanes (PU), polyethylene terephthalate (PET), and polyamide (PA). They provide properties like durability, lightweight, and versatility making plastics substitution for traditional materials in many applications. Growing demand from the packaging, automotive, construction, and electronic industries is expected to drive further growth in the demand for plastic resins worldwide.

 Market Dynamics:

The global plastic resins market is projected to witness significant growth over the forecast period owing to several factors like growing plastic consumption in emerging economies, rising demand from the packaging industry, and favorable government policies promoting plastics usage. However, environmental concerns pertaining to plastic waste and stringent regulations to curb carbon emissions pose challenges to market players. At the same time, ongoing research to develop bio-based and biodegradable resins as well as adoption of recycled plastics present new opportunities for sustainable market growth. Resin producers are investing in advanced recycling technologies and partnerships to leverage these opportunities. Adoption of lightweight but high performance resins in automotive manufacturing using innovative production processes is another key market trend.

Key Features of the Study:

• This report provides an in-depth analysis of the global plastic resins market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global plastic resins market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Dow, DuPont, BASF SE, SABIC, Sumitomo Chemical Co., Ltd., Evonik Industries AG, Celanese Corporation, Eastman Chemical Company, Chevron Phillips Chemical Co., LLC, LOTTE Chemical Corporation, Exxon Mobil Corporation, Formosa Plastics Corporation, TORAY INDUSTRIES, INC., MITSUI & CO. LTD, TEIJIN LIMITED, LG Chem, and Avient Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global plastic resins market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global plastic resins market

Detailed Segmentation-

• By Type:
• • Crystalline Resin
    • Epoxy
    • Polyethylene
    • Others
  • Non-crystalline Resin
    • Polyvinyl Chloride (PVC)
    • Polystyrene (PS)
    • Others
  • Engineering Plastic
    • Nylon
    • Polybutylene Terephthalate (PBT)
    • Others
  • Others
• By Application:
• • Packaging
  • Automotive
  • Construction
  • Electrical & Electronics
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Dow
  • DuPont
  • BASF SE
  • SABIC
  • Sumitomo Chemical Co., Ltd.
  • Evonik Industries AG
  • Celanese Corporation
  • Eastman Chemical Company
  • Chevron Phillips Chemical Co., LLC
  • LOTTE Chemical Corporation
  • Exxon Mobil Corporation
  • Formosa Plastics Corporation
  • TORAY INDUSTRIES, INC.
  • MITSUI & CO. LTD
  • TEIJIN LIMITED
  • LG Chem
  • Avient Corporation