Table of Contents
1. EXECUTIVE SUMMARY
1.1. Market Attractiveness Analysis
1.1.1. Global Plastics Market, by Type
1.1.2. Global Plastics Market, by Application
2. MARKET INTRODUCTION
2.1. Definition
2.2. Scope of the Study
2.3. Assumptions & Limitations
2.4. Market Structure
3. RESEARCH METHODOLOGY
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. MARKET DYNAMICS
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
4.6. Trends
5. MARKET FACTOR ANALYSIS
5.1. Supply Chain Analysis
5.1.1. Raw Material Suppliers
5.1.2. Manufacturers/Producers
5.1.3. Distribution & Sales Channel
5.1.4. End-Users
5.2. Porter’s Five Forces Model
5.2.1. Bargaining Power of Suppliers
5.2.2. Bargaining Power of Buyers
5.2.3. Threat of New Entrants
5.2.4. Threat of Substitutes
5.2.5. Intensity of Rivalry
5.3. Regulatory Scenario
5.4. Pricing Trend Analysis
6. GLOBAL PLASTICS MARKET, BY TYPE (VALUE AND VOLUME)
6.1. Introduction
6.2. Polyethylene (PE)
6.2.1. Market Estimates & Forecast, 2020–2027
6.2.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.3. Polypropylene (PP)
6.3.1. Market Estimates & Forecast, 2020–2027
6.3.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.4. Polyurethane (PU)
6.4.1. Market Estimates & Forecast, 2020–2027
6.4.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.5. Polyvinyl Chloride (PVC)
6.5.1. Market Estimates & Forecast, 2020–2027
6.5.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.6. Polyethylene Terephthalate (PET)
6.6.1. Market Estimates & Forecast, 2020–2027
6.6.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.7. Polystyrene (PS)
6.7.1. Market Estimates & Forecast, 2020–2027
6.7.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.8. Acrylonitrile Butadiene Styrene (ABS)
6.8.1. Market Estimates & Forecast, 2020–2027
6.8.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.9. Polybutylene Terephthalate (PBT)
6.9.1. Market Estimates & Forecast, 2020–2027
6.9.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.10. Polyphenylene Oxide (PPO)
6.10.1. Market Estimates & Forecast, 2020–2027
6.10.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.11. Polycarbonate (PC)
6.11.1. Market Estimates & Forecast, 2020–2027
6.11.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.12. Polyamide (PA)
6.12.1. Market Estimates & Forecast, 2020–2027
6.12.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.13. Polyether Ether Ketone (PEEK)
6.13.1. Market Estimates & Forecast, 2020–2027
6.13.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.14. Polysulfone (PSU)
6.14.1. Market Estimates & Forecast, 2020–2027
6.14.2. Market Estimates & Forecast, By Region/Country, 2020–2027
6.15. Others
6.15.1. Market Estimates & Forecast, 2020–2027
6.15.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7. GLOBAL PLASTICS MARKET, BY APPLICATION (VALUE AND VOLUME)
7.1. Introduction
7.2. Packaging
7.2.1. Market Estimates & Forecast, 2020–2027
7.2.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.3. Building & Construction
7.3.1. Market Estimates & Forecast, 2020–2027
7.3.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.4. Automotive & Transportation
7.4.1. Market Estimates & Forecast, 2020–2027
7.4.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.5. Electrical & Electronics
7.5.1. Market Estimates & Forecast, 2020–2027
7.5.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.6. Medical
7.6.1. Market Estimates & Forecast, 2020–2027
7.6.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.7. Consumer Goods
7.7.1. Market Estimates & Forecast, 2020–2027
7.7.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.8. Agriculture
7.8.1. Market Estimates & Forecast, 2020–2027
7.8.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.9. Furniture & Bedding
7.9.1. Market Estimates & Forecast, 2020–2027
7.9.2. Market Estimates & Forecast, By Region/Country, 2020–2027
7.10. Others
7.10.1. Market Estimates & Forecast, 2020–2027
7.10.2. Market Estimates & Forecast, By Region/Country, 2020–2027
8. GLOBAL PLASTICS MARKET, BY REGION (VALUE AND VOLUME)
8.1. Overview
8.2. North America
8.2.1. Market Estimates & Forecast, 2020–2027
8.2.2. Market Estimates & Forecast, by Type, 2020–2027
8.2.3. Market Estimates & Forecast, by Application, 2020–2027
8.2.4. US
8.2.4.1. Market Estimates & Forecast, 2020–2027
8.2.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.2.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.2.5. Canada
8.2.5.1. Market Estimates & Forecast, 2020–2027
8.2.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.2.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.3. Europe
8.3.1. Market Estimates & Forecast, 2020–2027
8.3.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.4. Germany
8.3.4.1. Market Estimates & Forecast, 2020–2027
8.3.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.5. UK
8.3.5.1. Market Estimates & Forecast, 2020–2027
8.3.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.6. France
8.3.6.1. Market Estimates & Forecast, 2020–2027
8.3.6.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.6.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.7. Russia
8.3.7.1. Market Estimates & Forecast, 2020–2027
8.3.7.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.7.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.8. Italy
8.3.8.1. Market Estimates & Forecast, 2020–2027
8.3.8.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.8.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.9. Spain
8.3.9.1. Market Estimates & Forecast, 2020–2027
8.3.9.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.9.3. Market Estimates & Forecast, by Application, 2020–2027
8.3.10. Rest of Europe
8.3.10.1. Market Estimates & Forecast, 2020–2027
8.3.10.2. Market Estimates & Forecast, by Type, 2020–2027
8.3.10.3. Market Estimates & Forecast, by Application, 2020–2027
8.4. Asia Pacific
8.4.1. Market Estimates & Forecast, 2020–2027
8.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.4. China
8.4.4.1. Market Estimates & Forecast, 2020–2027
8.4.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.5. Japan
8.4.5.1. Market Estimates & Forecast, 2020–2027
8.4.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.6. India
8.4.6.1. Market Estimates & Forecast, 2020–2027
8.4.6.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.6.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.7. South Korea
8.4.7.1. Market Estimates & Forecast, 2020–2027
8.4.7.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.7.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.8. Southeast Asia
8.4.8.1. Market Estimates & Forecast, 2020–2027
8.4.8.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.8.3. Market Estimates & Forecast, by Application, 2020–2027
8.4.9. Rest of Asia Pacific
8.4.9.1. Market Estimates & Forecast, 2020–2027
8.4.9.2. Market Estimates & Forecast, by Type, 2020–2027
8.4.9.3. Market Estimates & Forecast, by Application, 2020–2027
8.5. Latin America
8.5.1. Market Estimates & Forecast, 2020–2027
8.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.5.4. Brazil
8.5.4.1. Market Estimates & Forecast, 2020–2027
8.5.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.5.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.5.5. Mexico
8.5.5.1. Market Estimates & Forecast, 2020–2027
8.5.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.5.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.5.6. Argentina
8.5.6.1. Market Estimates & Forecast, 2020–2027
8.5.6.2. Market Estimates & Forecast, by Type, 2020–2027
8.5.6.3. Market Estimates & Forecast, by Application, 2020–2027
8.5.7. Rest of Latin America
8.5.7.1. Market Estimates & Forecast, 2020–2027
8.5.7.2. Market Estimates & Forecast, by Type, 2020–2027
8.5.7.3. Market Estimates & Forecast, by Application, 2020–2027
8.6. Middle East & Africa
8.6.1. Market Estimates & Forecast, 2020–2027
8.6.2. Market Estimates & Forecast, by Type, 2020–2027
8.6.3. Market Estimates & Forecast, by Application, 2020–2027
8.6.4. South Africa
8.6.4.1. Market Estimates & Forecast, 2020–2027
8.6.4.2. Market Estimates & Forecast, by Type, 2020–2027
8.6.4.3. Market Estimates & Forecast, by Application, 2020–2027
8.6.5. GCC Countries
8.6.5.1. Market Estimates & Forecast, 2020–2027
8.6.5.2. Market Estimates & Forecast, by Type, 2020–2027
8.6.5.3. Market Estimates & Forecast, by Application, 2020–2027
8.6.6. Rest of Middle East & Africa
8.6.6.1. Market Estimates & Forecast, 2020–2027
8.6.6.2. Market Estimates & Forecast, by Type, 2020–2027
8.6.6.3. Market Estimates & Forecast, by Application, 2020–2027
9. COMPETITIVE LANDSCAPE
9.1. Market Introduction
9.2. Major Strategic Initiatives and Alliances
9.3. Competitive Landscape
9.4. Global Market Strategy Analysis
10. COMPANY PROFILES
10.1. BASF SE
10.1.1. Company Overview
10.1.2. Financial Overview
10.1.3. Products Offerings
10.1.4. Key Developments
10.1.5. SWOT Analysis
10.1.6. Key Strategies
10.2. SABIC
10.2.1. Company Overview
10.2.2. Financial Overview
10.2.3. Products Offerings
10.2.4. Key Developments
10.2.5. SWOT Analysis
10.2.6. Key Strategies
10.3. DowDuPont
10.3.1. Company Overview
10.3.2. Financial Overview
10.3.3. Products Offerings
10.3.4. Key Developments
10.3.5. SWOT Analysis
10.3.6. Key Strategies
10.4. Evonik Group
10.4.1. Company Overview
10.4.2. Financial Overview
10.4.3. Products Offerings
10.4.4. Key Developments
10.4.5. SWOT Analysis
10.4.6. Key Strategies
10.5. Sumitomo Chemicals
10.5.1. Company Overview
10.5.2. Financial Overview
10.5.3. Products Offered
10.5.4. Key Developments
10.5.5. SWOT Analysis
10.5.6. Key Strategies
10.6. Arkema
10.6.1. Company Overview
10.6.2. Financial Overview
10.6.3. Products Offered
10.6.4. Key Developments
10.6.5. SWOT Analysis
10.6.6. Key Strategies
10.7. Celanese Corporation
10.7.1. Company Overview
10.7.2. Financial Overview
10.7.3. Products Offered
10.7.4. Key Developments
10.7.5. SWOT Analysis
10.7.6. Key Strategies
10.8. Eastman Chemical Company
10.8.1. Company Overview
10.8.2. Financial Overview
10.8.3. Products Offerings
10.8.4. Key Developments
10.8.5. SWOT Analysis
10.8.6. Key Strategies
10.9. Chevron Phillips Chemical Co. LLC
10.9.1. Company Overview
10.9.2. Financial Overview
10.9.3. Products Offered
10.9.4. Key Developments
10.9.5. SWOT Analysis
10.9.6. Key Strategies
10.10. Lotte Chemical Corporation
10.10.1. Company Overview
10.10.2. Financial Overview
10.10.3. Products Offered
10.10.4. Key Developments
10.10.5. SWOT Analysis
10.10.6. Key Strategies
10.11. ExxonMobil
10.11.1. Company Overview
10.11.2. Financial Overview
10.11.3. Products Offered
10.11.4. Key Developments
10.11.5. SWOT Analysis
10.11.6. Key Strategies
10.12. Formosa Plastics
10.12.1. Company Overview
10.12.2. Financial Overview
10.12.3. Products Offered
10.12.4. Key Developments
10.12.5. SWOT Analysis
10.12.6. Key Strategies
10.13. Covestro
10.13.1. Company Overview
10.13.2. Financial Overview
10.13.3. Products Offered
10.13.4. Key Developments
10.13.5. SWOT Analysis
10.13.6. Key Strategies
10.14. TORAY
10.14.1. Company Overview
10.14.2. Financial Overview
10.14.3. Products Offered
10.14.4. Key Developments
10.14.5. SWOT Analysis
10.14.6. Key Strategies
10.15. Mitsui Plastics
10.15.1. Company Overview
10.15.2. Financial Overview
10.15.3. Products Offered
10.15.4. Key Developments
10.15.5. SWOT Analysis
10.15.6. Key Strategies
10.16. Teijin Plastics
10.16.1. Company Overview
10.16.2. Financial Overview
10.16.3. Products Offered
10.16.4. Key Developments
10.16.5. SWOT Analysis
10.16.6. Key Strategies
11. APPENDIX
LIST OF TABLES
TABLE 1 Global Plastics Market, By Region, 2020–2027
TABLE 2 North America: Plastics Market, By Country, 2020–2027
TABLE 3 Europe: Plastics Market, By Country, 2020–2027
TABLE 4 Asia-Pacific: Plastics Market, By Country, 2020–2027
TABLE 5 Middle East & Africa: Plastics Market, By Country, 2020–2027
TABLE 6 Latin America: Plastics Market, By Country, 2020–2027
TABLE 7 Global Plastics Type Market, By Region, 2020–2027
TABLE 8 North America: Plastics Type Market, By Country, 2020–2027
TABLE 9 Europe: Plastics Type Market, By Country, 2020–2027
TABLE 10 Asia-Pacific: Plastics Type Market, By Country, 2020–2027
TABLE 11 Middle East & Africa: Plastics Type Market, By Country, 2020–2027
TABLE 12 Latin America: Plastics Type Market, By Country, 2020–2027
TABLE 13 Global Plastics Application Market, By Region, 2020–2027
TABLE 14 North America: Plastics Application Market, By Country, 2020–2027
TABLE 15 Europe: Plastics Application Market, By Country, 2020–2027
TABLE 16 Asia-Pacific: Plastics Application Market, By Country, 2020–2027
TABLE 17 Middle East & Africa: Plastics Application Market, By Country, 2020–2027
TABLE 18 Latin America: Plastics Application Market, By Country, 2020–2027
TABLE 19 Global Plastics Type Market, By Region, 2020–2027
TABLE 20 Global Plastics Application Market, By Region, 2020–2027
TABLE 21 North America: Plastics Market, By Country, 2020–2027
TABLE 22 North America: Plastics Type Market, 2020–2027
TABLE 23 North America: Plastics Application Market, 2020–2027
TABLE 24 Europe: Plastics Market, By Country, 2020–2027
TABLE 25 Europe: Plastics Type Market, 2020–2027
TABLE 26 Europe: Plastics Application Market, 2020–2027
TABLE 27 Asia-Pacific: Plastics Market, By Country, 2020–2027
TABLE 28 Asia-Pacific: Plastics Type Market, 2020–2027
TABLE 29 Asia-Pacific: Plastics Application Market, 2020–2027
TABLE 30 Middle East & Africa: Plastics Market, By Country, 2020–2027
TABLE 31 Middle East & Africa: Plastics Type Market, 2020–2027
TABLE 32 Middle East & Africa: Plastics Application Market, 2020–2027
TABLE 33 Latin America: Plastics Market, By Country, 2020–2027
TABLE 34 Latin America: Plastics Type Market, 2020–2027
TABLE 35 Latin America: Plastics Application Market, 2020–2027
LIST OF FIGURES
FIGURE 1 Global Plastics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of The Global Plastics Market
FIGURE 4 Supply Chain Analysis of The Global Plastics Market
FIGURE 5 Share of The Global Plastics Market, By Country, 2020 (%)
FIGURE 6 Global Plastics Market, 2020–2027
FIGURE 7 Sub-Segments of Type
FIGURE 8 Global Plastics Market Size, By Type, 2020 (%)
FIGURE 9 Share of The Global Plastics Market, By Type, 2020–2027
FIGURE 10 Global Plastics Market Size, By Application, 2020 (%)
FIGURE 11 Share of The Global Plastics Market, By Application, 2020–2027
Plastics Market
Plastics Market Can Project Expansion At A Rate Of 4.3% Over The Analysis Period (2020 To 2027), says Market Research Future (MRFR). The market size can touch USD 791.2 Billion by 2027
$791.2 Billion
Market Size
4.3%
CAGR
North America
Dominating Region
2020-2027
Forecast Period
Segmentation
Key Players
- BASF SE (Germany)
- SABIC (Saudi Arabia)
- DowDuPont (US)
- Evonik Group (Germany)
- Sumitomo Chemicals (Japan)
- Arkema Group (France)
- Celanese Corporation (US)
- Eastman Chemical Company (US)
- Chevron Phillips Chemical Co. LLC (US)
- Lotte Chemical Corporation (South Korea)
- ExxonMobil (US)
Drivers
- Increasing demand in several end-use industries.
- Growing awareness regarding the usage of bio-based plastics in several industries.
Plastics Market Overview
The plastics market can project expansion at a rate of 4.3% over the analysis period (2020 to 2027), says Market Research Future (MRFR). The market size can touch USD 791.2 Billion by 2027-end, expects MRFR.
Surge in plastic use in industries such as automotive, electrical & electronics and construction encourage significant growth of the plastics market. Regulations focused on reducing the total vehicular weight for higher fuel efficiency and lower carbon emissions are fostering the plastic consumption rate as replacement of various metals, such as steel and aluminum. Plastics are increasingly being used to manufacture a number of automotive components. The construction sector’s booming expansion in emerging countries including Brazil, India, Mexico, and China, has been pivotal for the plastics industry as well. This can be the result of the rise in foreign investments in these construction markets owing to the ease of FDI norms as well as need for better industrial and public infrastructure.
Having said that, the halt of the production activities following the COVID-19 outbreak has induced major losses for several end-use sectors including automotive, utility, consumer goods and packaging. Needless to say, the demand for different plastics has gone down as well. However, rapid rise in COVID-19 cases worldwide has raised the need for plastics in several medical devices, including ventilators, testing equipment, syringes, gloves, medical bags, and surgical trays. In a few ways, COVID-19 has emerged as a significant opportunity for the plastics industry and will continue to give rise to growth avenues.
Key Players
- BASF SE (Germany)
- SABIC (Saudi Arabia)
- DowDuPont (US)
- Evonik Group (Germany)
- Sumitomo Chemicals (Japan)
- Arkema Group (France)
- Celanese Corporation (US)
- Eastman Chemical Company (US)
- Chevron Phillips Chemical Co. LLC (US)
- Lotte Chemical Corporation (South Korea)
- ExxonMobil (US)
- Formosa Plastics (Taiwan)
- Covestro AG (Germany)
- TORAY Industries (Japan)
- Mitsui Plastics (Japan)
- Teijin Plastics (Japan)
Pricing Analysis
However, volatile raw material prices of plastics are projected to hinder the growth of the market over the forecast period. Plastic materials are largely manufactured from petroleum products; therefore, the price of crude oil is one of the major factors that affect the price of plastic. In addition, capacity constraints and stockpiling from the end users are also factors that are making plastic prices volatile in the global market.
In 2018, the polypropylene (PP) resin was priced around USD 1,067 to 1,225 per tons, across the globe. Plastic resin producers have increased the prices of their products after the increase in crude oil prices. Increase in the plastic resin prices may hit the profitability of the end users from various industries such as automotive, construction, and packaging.
Market Drivers
- Increasing demand in several end-use industries
- Rising demand for lightweight materials in the automotive industry and stringent regulations pertaining to reduce carbon emissions
- Increasing usage of plastics as an alternative to other heavy materials such as metals, ceramics, and glass
- Growing awareness regarding the usage of bio-based plastics in several industries
Market Restraints
- Volatile raw material prices
Segmentation
By Type
- Polyethylene (PE): Polyethylene (PE) product segment held the largest market share of more than 30%. PE resin are extensively used in the packaging applications on account of their superior properties such as durability, cost, and efficiency.
- Polyether Ether Ketone (PEEK): The product segment is projected to register significant CAGR over the forecast period.
By Application
- Packaging: The largest application segment and the high demand in the packaging industry on account of robust growth in the packaging applications in various industries such as healthcare, food & beverage, cosmetics, personal care, consumer goods, and home appliances is driving the demand.
- Automotive & Transportation: The increasing production of automobiles is expected to fuel the growth of the segment. The segment is projected to witness significant growth over the forecast period on account of increasing demand for lightweight materials to reduce the gross weight of automobiles. Moreover, plastic materials help to reduce the carbon emission from vehicles.
- Building & Construction: The increasing residential and non-residential construction activities coupled with infrastructure development across the world are factors fueling the demand for plastics in the building & construction industry.
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Regional Analysis
- North America: A well-established automotive industry and high emphasis on renewable energy sources are propelling the growth of the North American market. In addition, increasing reconstruction activities is likely to boost the product demand in the regional market.
- Europe: Presence of major automotive manufacturers and OEM players is expected to result in the steady market growth over the forecast period.
- Asia-Pacific: Held the largest market share, over 50%, in 2018 and is projected to retain its dominance during the forecast period. The region is also projected to witness the fastest growth over the forecast period owing to high demand in various end-use industries, especially automotive, electrical & electronics, consumer appliances, and construction. Robust growth of the end-use industries in major economies such as China, India, and Japan coupled with emergence of end use industries in Southeast Asian countries in these is further projected to fuel the demand for plastics over the forecast period.
- Latin America: Rapidly expanding automotive and construction industries is expected to boost the growth of the plastics market in the region. The consumer electronics sector is expected to witness robust growth in the region over the forecast period.
- Middle East & Africa: Ready supply of crude oil and expansion of the building & construction industry is expected to contribute to the growth of the regional market growth over the forecast period.
Recent Development
February 2022
3D Systems will be acquiring Kumovis, the German 3D printer developer for medical applications and Titan Robotics, an industrial 3D printer manufacturer. Both the companies are known for their advanced tools in the 3D printing space. Kumovis develops machines primarily for precision printing of high-performance, medical-grade polymers including polyether ether ketone (PEEK).
March 2022
The Compound Co., a developer of plastic compounds based in Netherlands, has acquired the product portfolio, customer base as well as production site for Exxelor polymer resins from ExxonMobil’s unit Esso Deutschland GmbH in Cologne, Germany. This acquisition will help foster the worldwide manufacturing capacity of The Compound Co. to around 70,000 tonnes per year and substantially bolster the company’s reach into markets like plastics.
Industry News:
In November 2019, FMCG companies in India, have decided that they would use 100% reusable plastics for packaging. This intent is to highlight the initiatives taken by the Government of India and would see companies like Pepsi-Co, Nestle India, Marico, Hindustan Unilever, Coca-Cola, Future Consumer, and Parle Agro taking active steps.
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | 2027: USD 791.2 Billion |
| CAGR | 4.3% (2020-2027) |
| Base Year | 2019 |
| Forecast Period | 2020-2027 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | BASF SE (Germany), SABIC (Saudi Arabia), DowDuPont (US), Evonik Group (Germany), Sumitomo Chemicals (Japan), Arkema Group (France), Celanese Corporation (US), Eastman Chemical Company (US), Chevron Phillips Chemical Co. LLC (US), Lotte Chemical Corporation (South Korea), ExxonMobil (US), Formosa Plastics (Taiwan), Covestro AG (Germany), TORAY Industries (Japan), Mitsui Plastics (Japan), Teijin Plastics (Japan) |
| Key Market Opportunities | Volatile raw material prices |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The plastics market is expected to advance at a rate of 4.3% in the coming period.
By the end of 2025, the market value is anticipated to be USD 791.2 Billion.
The growth of the plastics market can be primarily attributed to the increasing plastic consumption in various end-use industries especially building & construction, automotive & transportation, electrical & electronics, packaging, and consumer appliances.
The packaging was the largest end-use segment of the global market in 2018 and is projected to continue to follow the trend over the forecast period.
North America has a well-developed automotive sector, and greatly focuses on the use of renewable energy sources, which helps with the market growth in the region. In addition, increasing reconstruction activities is likely to boost the product demand in the regional market.
