Plastics Industry Forecast To Grow 307,966.70 Kilotons 2021

 Plastics Industry Data Book Covers Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Markets.

The economic value generated by the industry was estimated at approximately 307,966.7 kilotons in 2021.

Plastic Resins Market Report Highlights

The global plastic resins market size was estimated at USD 731.25 billion in 2021, and it is expected to reach USD 1.07 trillion by 2030. It is projected to expand at a 3.2% CAGR (2022-2030).

  • 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

Access the Global Plastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Plastic Compounding Market Report Highlights

The global plastic compounding market size was valued at 27,896.6 kilotones in 2021, and it is expected to reach USD 112.08 billion by 2030. It is expected to expand at a CAGR of 3.7% CAGR (2022-2030).

  • Polypropylene (PP) is the most consumed plastic compounding product. It held the largest revenue share of over 25.0% in 2021. Its production has increased due to growing demand from the packaging and medical device industries all over the globe
  • Polyethylene compounds find widespread application in the building and construction segment. Rapid urbanization and industrialization, especially in emerging economies such as China and India, coupled with the rising infrastructure development activities in the Middle East, are expected to fuel the growth of the construction industry
  • Volatility in crude oil prices can be attributed to political instability, supply-demand imbalances, and seasonal variations. The volatility in crude oil prices can negatively impact the market growth
  • Major plastic compounding companies have been acquiring their own compounding plants, rather than establishing plants, to strengthen their position in the global landscape. In February 2022, BASF SE acquired Solvay’s PA66 business as a part of a takeover. The products acquired under the takeover include different grades of polyamide (PA) and polyphthalamide (PPA), which will be traded across Europe

 

Recycled Plastics Market Report Highlights

The global recycled plastic market size was valued at 50,465.24 kilotones in 2021, and it is anticipated to reach USD 69.2 billion by 2030, growing at a CAGR of 3.3% CAGR (2022-2030).

  • 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

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” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the plastics industry are –

  • BASF SE
  • Dow Inc.
  • DuPont
  • Evonik Industries AG
  • SABIC
  • Sumitomo Chemical Co., Ltd.
  • Arkema
  • Celanese Corporation

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.

Go through the table of content of Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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