Top 10 Plastics Market Forecasts to 2030 - Global Analysis By Product (Polyethylene Terephthalate, Polyoxymethylene, Polyvinyl chloride, Polyethylene, Polycarbonate, Polyamide, Polystyrene, Polyurethane, Polypropylene and Other Products), Application, End User and By Geography
Estimated Year Value (2023)
US $513.4 BN
Projected Year Value (2030)
US $914.7 BN
CAGR (2023 - 2030)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Highest Growing Market
According to Stratistics MRC, the Global Top 10 Plastics Market is accounted for $513.4 billion in 2023 and is expected to reach $914.7 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Plastic is a man-made or partially man-made substance that can be molded into solid things. Natural resources like cellulose, coal, natural gas, salt, and crude oil are used to make them. Long chains of molecules known as polymers are created by chemically treating the fundamental components. They are flexible, robust, and easily moldable. They are also lightweight, resistant to corrosion and many common home pollutants. They are a feasible alternative to metals in many industries due to their distinguishing characteristics.
According to the PlastIndia Foundation, India has 15,788 KTA production capacity of thermoplastics alone. Similarly, engineering plastics, polyolefin, polystyrene, and polyurethane have a major marketplace in India.
Rising need for engineering plastics
The demand for products has expanded as a result of engineering polymers' superior strength and durability over standard ones. They have superior thermal and mechanical qualities, are lightweight, and are inexpensive. Engineering polymers are also being used more widely across a range of industries as a result of the growing need for metal replacement. The market is expanding because there is an increasing need for more advanced polymer solutions across a variety of end-use sectors, including construction, machinery, and components.
Strict government regulations
Regulations governing the use of a product are likely to slow market expansion. As worries about the environmental harm that polymers cause have grown, strict government laws and other measures have been implemented. Many governments and businesses have tried to embrace non-plastic and greener alternatives in an effort to lessen the environmental damage brought on by the use of plastic. The switch from plastic to sustainable products restrains the expansion of the worldwide market.
Increasing demand from the packaging industry
Numerous industries, including food & beverage, consumer goods, automotive, and electrical & electronics, are seeing an increase in demand for plastic. Global product consumption is fueled by the food and beverage industry's growing demand for packaging. Packaging that reduces food quality deterioration and prevents contamination is preferred by food manufacturers. The need is being fuelled by plastics' capacity to serve as a barrier between food goods and the outside environment.
The majority of plastics cannot decompose naturally in the environment because they are non-biodegradable. They may remain for hundreds of years, contaminating ecosystems, oceans, and landfills. Marine and land animals that consume plastic debris risk harm or perhaps death. Debris made of plastic can entangle animals, and plastic pollution disturbs ecosystems. This is the element limiting market expansion.
Plastics demand from the automotive and building and construction industries has significantly decreased in the aftermath of the epidemic. This drop was linked to reduced industrial activity in certain sectors as well as global shutdown limitations. The need for personal protective equipment, such as face masks, goggles, shields, gloves, respirators, gowns, and coveralls, from the medical business, on the other hand, will drive the market.
The polyethylene segment is expected to be the largest during the forecast period
The polyethylene segment is expected to be the largest during the forecast period. It is mostly utilized in the packaging industry, which comprises geo membranes, plastic bags, plastic films, and containers and bottles. It is employed in numerous applications. PE polymers with low molecular weight are used in lubricants, while those with medium molecular weight are utilized to make wax that is miscible with paraffin and those with high molecular weight are frequently employed in the plastics sector.
The packaging segment is expected to have the highest CAGR during the forecast period
The packaging segment is expected to have the highest CAGR during the forecast period. Packaging is a moderately penetrated end-use market with considerable potential. The packaging sector has relied heavily on plastic. Additionally, the introduction of bio-based plastic has had a big impact on packaging for food, medicine, and beverages. Packaging for beverages, consumer products, appliances, toys, and clothing is increasingly made of plastic.
Region with largest share:
North America is projected to hold the largest market share during the forecast period owing to increasing product demand from the electrical & electronics, healthcare & pharmaceuticals, and packaging industries. The use of polymers is also aided by qualities including superior heat resistance, corrosion inhibition, electric insulation, and low density. The usage of recovered plastics in the area has increased as a result of worries about plastic pollution and the advancement of recyclable technologies.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period owing to its increasing urbanization and industrialization. Due to the plentiful supply of low-cost raw materials in China, it is expected that it will continue to hold the top position in the regionThe expansion is also credited to the building and packaging sectors' rapid expansion. The market in the region is anticipated to be driven by expanding consumer products industry demand for the production of toys, textiles, and sporting goods.
Key players in the market
Some of the key players in Top 10 Plastics market include Polyplastics Co., Ltd., Dow Chemical Company, ExxonMobil Chemical Company, Solvay SA, Huntsman Corporation, SABIC, Ach Foam Technologies, Vinnolit GmbH & Co. Kg, Borealis AG, TotalEnergies, Arkema, Eastman Chemical Company, Chevron Phillips Chemical Co., Sumitomo Chemical Co., Ltd. and Covestro AG.
In May 2023, TotalEnergies acquired Iber Resinas to expand its plastic recycling activity in Europe. The company aims to establish the key presence of circular polymers in Europe, increase its recycled product offerings, and extend its access to raw materials through Iber Resinas’s suppliers.
In April 2022, ExxonMobil launched Exceed S, a Performance Polyethylene (PE) resins that provide toughness and stiffness and is easy to process. The new PE will aid the company to offer lucrative opportunities to decrease the complexity of film designs and formulations while improving conversion efficiency, packaging durability, and film performance from its competitors.
• Acrylonitrile Butadiene Styrene
• Polyethylene Terephthalate
• Polyvinyl chloride
• Other Products
• Compression Molding
• Roto Molding
• Injection Molding
• Blow Molding
• Other Applications
End Users Covered:
• Electrical & Electronics
• Building & construction
• Medical devices
• Furniture & Bedding
• Consumer Goods
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Top 10 Plastics Market, By Product
5.2 Acrylonitrile Butadiene Styrene
5.3 Polyethylene Terephthalate
5.5 Polyvinyl chloride
5.12 Other Products
6 Global Top 10 Plastics Market, By Application
6.2 Compression Molding
6.3 Roto Molding
6.6 Injection Molding
6.7 Blow Molding
6.10 Other Applications
7 Global Top 10 Plastics Market, By End User
7.2 Electrical & Electronics
7.3 Building & construction
7.4 Medical devices
7.9 Furniture & Bedding
7.10 Consumer Goods
7.12 Other End Users
8 Global Top 10 Plastics Market, By Geography
8.2 North America
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.5 Other Key Strategies
10 Company Profiling
10.1 Polyplastics Co., Ltd.
10.2 Dow Chemical Company
10.3 ExxonMobil Chemical Company
10.4 Solvay SA
10.5 Huntsman Corporation
10.7 Ach Foam Technologies
10.8 Vinnolit GmbH & Co. Kg
10.9 Borealis AG
10.12 Eastman Chemical Company
10.13 Chevron Phillips Chemical Co.
10.14 Sumitomo Chemical Co., Ltd.
10.15 Covestro AG
List of Tables
1 Global Top 10 Plastics Market Outlook, By Region (2021-2030) ($MN)
2 Global Top 10 Plastics Market Outlook, By Product (2021-2030) ($MN)
3 Global Top 10 Plastics Market Outlook, By Acrylonitrile Butadiene Styrene (2021-2030) ($MN)
4 Global Top 10 Plastics Market Outlook, By Polyethylene Terephthalate (2021-2030) ($MN)
5 Global Top 10 Plastics Market Outlook, By Polyoxymethylene (2021-2030) ($MN)
6 Global Top 10 Plastics Market Outlook, By Polyvinyl chloride (2021-2030) ($MN)
7 Global Top 10 Plastics Market Outlook, By Polyethylene (2021-2030) ($MN)
8 Global Top 10 Plastics Market Outlook, By Polycarbonate (2021-2030) ($MN)
9 Global Top 10 Plastics Market Outlook, By Polyamide (2021-2030) ($MN)
10 Global Top 10 Plastics Market Outlook, By Polystyrene (2021-2030) ($MN)
11 Global Top 10 Plastics Market Outlook, By Polyurethane (2021-2030) ($MN)
12 Global Top 10 Plastics Market Outlook, By Polypropylene (2021-2030) ($MN)
13 Global Top 10 Plastics Market Outlook, By Other Products (2021-2030) ($MN)
14 Global Top 10 Plastics Market Outlook, By Application (2021-2030) ($MN)
15 Global Top 10 Plastics Market Outlook, By Compression Molding (2021-2030) ($MN)
16 Global Top 10 Plastics Market Outlook, By Roto Molding (2021-2030) ($MN)
17 Global Top 10 Plastics Market Outlook, By Thermoforming (2021-2030) ($MN)
18 Global Top 10 Plastics Market Outlook, By Casting (2021-2030) ($MN)
19 Global Top 10 Plastics Market Outlook, By Injection Molding (2021-2030) ($MN)
20 Global Top 10 Plastics Market Outlook, By Blow Molding (2021-2030) ($MN)
21 Global Top 10 Plastics Market Outlook, By Calendering (2021-2030) ($MN)
22 Global Top 10 Plastics Market Outlook, By Extrusion (2021-2030) ($MN)
23 Global Top 10 Plastics Market Outlook, By Other Applications (2021-2030) ($MN)
24 Global Top 10 Plastics Market Outlook, By End User (2021-2030) ($MN)
25 Global Top 10 Plastics Market Outlook, By Electrical & Electronics (2021-2030) ($MN)
26 Global Top 10 Plastics Market Outlook, By Building & construction (2021-2030) ($MN)
27 Global Top 10 Plastics Market Outlook, By Medical devices (2021-2030) ($MN)
28 Global Top 10 Plastics Market Outlook, By Automotive (2021-2030) ($MN)
29 Global Top 10 Plastics Market Outlook, By Packaging (2021-2030) ($MN)
30 Global Top 10 Plastics Market Outlook, By Agriculture (2021-2030) ($MN)
31 Global Top 10 Plastics Market Outlook, By Utility (2021-2030) ($MN)
32 Global Top 10 Plastics Market Outlook, By Furniture & Bedding (2021-2030) ($MN)
33 Global Top 10 Plastics Market Outlook, By Consumer Goods (2021-2030) ($MN)
34 Global Top 10 Plastics Market Outlook, By Textile (2021-2030) ($MN)
35 Global Top 10 Plastics Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
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