Increasing emphasis on sustainable and environmentally friendly materials across various industries is expected to drive market expansion in the near future at a CAGR of 5.50% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Resins Market”.

The resins market is estimated to register a CAGR of 5.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Resins market— DuPont, Arkema, BASF SE, INEOS Holdings Ltd., Hexion, Invista, LyondellBasell, Mitsubishi Engineering-Plastics Corporation, Mitsui Chemicals, Nova Chemicals, Qenos, Radici Group, SABIC, Repsol, Sumitomo Chemical Co. Ltd., Teijin Limited, Tosoh Corporation, Toray Group.

Market Highlights

The global resins market is accounted to register a CAGR of 5.50% during the forecast period and is estimated to reach USD 867.0 billion by 2032.

Resins play a pivotal role in the development of eco-friendly products and solutions, as they can be engineered to be recyclable, low in volatile organic compounds (VOCs), and energy-efficient in their production. Additionally, resins' versatility and adaptability make them indispensable for innovative and sustainable applications in sectors such as construction, packaging, automotive, and electronics, aligning with the global shift towards a more sustainable and responsible approach to material selection and product development.  The resin market is poised to continue thriving as it provides essential solutions to meet the growing demand for environmentally responsible materials and processes across a wide spectrum of industries.

Segment Analysis

The global Resins market has been segmented based on type and end use industry.

On the basis of type, the market is segmented into Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene and Others. The polyethylene segment was attributed to holding the largest market share in 2022, due to its versatility, cost-effectiveness, and widespread utility in various industries.

Based on end use industry, the global Resins market has been segmented into Packaging, Automotive & Transportation, Building & Construction, Consumer Goods/Lifestyle, Electrical & Electronics, Agriculture and Others. The building & construction segment was expected to hold the largest market share in 2022, due to its extensive and consistent demand for structural support solutions.

Regional Analysis

The global Resins market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Resins market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Resins market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Resins market comprises of Middle East, Africa, and Latin America.

The largest market share for Resins was maintained by the North American regional sector. This increase is attributed to the robust manufacturing and construction industries that heavily rely on resins for a multitude of applications. Additionally, stringent quality standards, regulatory compliance, and a strong focus on sustainability are key drivers, as resins can be tailored to meet eco-friendly and safety requirements. The region's technological advancements and research and development activities further solidify its leadership in the resin market, as North America continues to innovate and provide solutions that cater to the evolving demands of various industries.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Resins is driven by stringent environmental regulations, pushing industries to adopt eco-friendly and sustainable materials, as well as the growing focus on energy-efficient and green building practices.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's robust industrial growth, particularly in sectors like manufacturing, construction, and packaging, where resins find extensive applications. Additionally, the pursuit of sustainable and environmentally friendly solutions is compelling industries in Asia Pacific to adopt resins that can meet stringent regulations and align with global sustainability trends.

Furthermore, the rest of the world's Resins market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the robust growth in the construction and infrastructure sectors, increasing industrialization, and a growing focus on sustainable and eco-friendly material solutions in the region.

Key Findings of the Study

• The global Resins market is expected to reach USD 867.0 billion by 2032, at a CAGR of 5.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's robust industrial growth, particularly in sectors like manufacturing, construction, and packaging, where resins find extensive applications


• Based on end use industry, the building & construction segment was attributed to holding the largest market in 2022, with an approximate market share of 45-50%.


• DuPont, Arkema, BASF SE, INEOS Holdings Ltd., Hexion, Invista, LyondellBasell, Mitsubishi Engineering-Plastics Corporation, Mitsui Chemicals, Nova Chemicals, Qenos, Radici Group, SABIC, Repsol, Sumitomo Chemical Co. Ltd., Teijin Limited, Tosoh Corporation, Toray Group.