Global Plastic Resin Market Size, Share & Trends Analysis Report 2024-2030: Advent of Bio-Based Plastic Resins has Played a Prominent Role in Food and Beverage, and Pharmaceutical Applications

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Feb 20, 2024, 17:30 ET

DUBLIN, Feb. 20, 2024 /PRNewswire/ -- The "Global Plastic Resin Market Size, Share & Trends Analysis Report by Product (Crystalline Resin, Non-crystalline Resin, Engineering Plastic), Application (Packaging, Automotive, Construction), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.

The global plastic resin market is expected to reach USD 1.07 trillion by 2030. It is projected to expand at a 4.5% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components.

Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA), as well as EU initiatives to develop plastics applications for light-weight and fuel-efficient cars, are expected to fuel global growth and promote the market. However, the health crisis and lockdowns imposed by various governments to contain the spread of the coronavirus pandemic led to a decline in the consumption of plastic resins.

Strict restrictions governing the recyclability and deterioration of traditional building materials like metal and wood are likely to boost the demand for textiles in pipes, windows, cables, storage tanks, and other uses. Plastics are long-lasting and energy-efficient, as well as cost-effective and safe, which encourages their usage in construction.

The global market is segmented into crystalline resin, non-crystalline resin, engineering plastics, and super engineering plastics by type. The crystalline resin was the largest segment, accounting for 61.9% of global sales in 2021. The crystalline resin segment mainly includes epoxy, polyethylene, and polypropylene resins.

Plastic Resin Market Report Highlights

Crystalline resins (epoxy, polyethylene, and propylene) segment accounted for a prominent share in the market by the end of 2023 and is further expected to witness maximum growth over the forecast period
As of 2023, China accounted for the maximum revenue share in the market, with 40.24%. 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

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot

Chapter 3. Plastic Resins Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Regulatory Framework
3.4. Market Dynamics
3.5. Industry Analysis Tools

Chapter 4. Plastic Resins Market: Product Estimates & Trend Analysis
4.1. Product Movement Analysis & Market Share, 2023 & 2030
4.2. Plastic Resins Market Estimates & Forecast, by Product, 2018 to 2030 (Kilo Tons) (USD Million)
4.3. Crystalline Resin
4.4. Non-crystalline Resin
4.5. Engineering Plastic
4.6. Super Engineering Plastic

Chapter 5. Plastic Resins Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2023 & 2030
5.2. Plastic Resins Market Estimates & Forecast, by Application, 2018 to 2030 (Kilo Tons) (USD Million)
5.3. Packaging
5.4. Automotive
5.5. Construction
5.6. Automotive
5.7. Electrical & electronics
5.8. Logistics
5.9. Consumer Goods
5.10. Textiles & Clothing
5.11. Furniture & Bedding
5.12. Agriculture
5.13. Medical Devices
5.14. Others

Chapter 6. Plastic Resins Market: Regional Estimates & Trend Analysis
6.1. Regional Movement Analysis & Market Share, 2023 & 2030
6.2. North America
6.3. Europe
6.4. China
6.5. Asia
6.6. Pacific
6.7. Central & South America
6.8. Middle East & Africa

Chapter 7. Plastic Resins Market - Competitive Landscape
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company Categorization
7.3. Company Market Share/Position Analysis, 2023
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.6. Company Profiles

BASF
SABIC
Dow Inc.
DuPont
Evonik Industries
Sumitomo Chemical
Celanese
Eastman Chemical Company
Chevron Phillips Chemical Co.
LOTTE Chemical
Exxon Mobil
Formosa Plastics
TORAY INDUSTRIES
TEIJIN
LG Chem
Avient

For more information about this report visit https://www.researchandmarkets.com/r/drkstq

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