Skip to main content

Plastics Market Size to Reach USD 717.17 Billion by 2030, Supported by an In-depth 230-Page Research Report

Companies covered in the plastics market are LyondellBasell Industries N.V. (Netherlands), ExxonMobil Chemical (U.S.), China National Petroleum Corporation (China), INEOS (U.K.), China Petroleum & Chemical Corporation (China), SABIC (Saudi Arabia), Ducor Petrochemicals (Netherlands), Reliance Industries Limited (India), Formosa Plastic Group (Taiwan), Total S.A. (France), BASF SE (Germany), Repsol (Spain), and many more players profiled.

Plastics Market

Plastics Market
Plastics Market

Pune, India, Sept. 21, 2023 (GLOBE NEWSWIRE) — The global plastics market size was USD 570.83 billion in 2022 and is projected to grow from USD 507.16 billion in 2023 to USD 717.17 billion by 2030 at a CAGR of 5.1% over 2023-2030.

Plastics are polymers that are versatile, easy to produce, moldable, waterproof in nature, low cost, and lightweight, used to produce different products such as spacecraft and others. The plastics produced using renewable biomass sources, including vegetable oil, sawdust, food waste, and corn starch, are known as bioplastics. The increasing demand for high-performance plastic packaging solutions integrated with growing technological advancement to protect products is boosting the plastics market growth.  

Fortune Business Insights™ mentioned this in a report titled “Plastics Market, 2023-2030.”.

Get a Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/plastics-market-102176

List of Key Players Profiled in the Global Plastics Market Report:

  • LyondellBasell Industries N.V. (Netherlands)
  • ExxonMobil Chemical (U.S.)
  • China National Petroleum Corporation (China)
  • INEOS (U.K.)
  • China Petroleum & Chemical Corporation (China)
  • SABIC (Saudi Arabia)
  • Ducor Petrochemicals (Netherlands)
  • Reliance Industries Limited (India)
  • Formosa Plastic Group (Taiwan)
  • Total S.A. (France)
  • Braskem (Brazil)
  • BASF SE (Germany)
  • Repsol (Spain)
  • Borouge (UAE)
  • Borealis AG (Austria)
  • MOL Group (Hungary)
  • Beaulieu International Group (Belgium)

Report Scope & Segmentation:

Report AttributesDetails
Forecast Period2023-2030
Forecast CAGR5.1%
2030 Value ProjectionUSD 717.17 Billion
Market Size in 2023USD 507.16 Billion
Historical Data2019-2021
No. of Pages230
Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments Covered
  • By Form
  • By Production Process
  • By Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Plastics Market Growth DriversIncreasing Demand for Engineering Plastics Due to their Properties to Favor the Market Growth.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/plastics-market-102176

COVID-19 Impact-

Supply Chain Disruptions Caused by COVID-19 Pandemic Hampered Market Growth

The COVID-19 pandemic negatively impacted the market due to decreased demand from the building, construction, and automobile industries. The decline was associated with the industries’ decreased manufacturing activities and COVID-19 restrictions imposed worldwide. The market witnessed growth due to the increased demand for PPE kits from the healthcare industry during the pandemic.

Segments-

Rising Adoption of Packaging Products to Boost Segment’s Growth

By type, the market is segmented into polyethylene, polyethylene terephthalate, polyvinyl chloride, polypropylene, polyamide, acrylonitrile butadiene styrene, polycarbonate, polyurethane, polystyrene, and others. Polyethylene and polypropylene are estimated to dominate the market during the forecast period attributed to their rising demand from packaging and automotive.

Increasing Food and Beverage Industry to Propel Segment’s Growth

Based on end-use industry, the market is classified into automotive & transportation, packaging, consumer goods/lifestyle, infrastructure & construction, healthcare & pharmaceutical, electrical & electronics, textile, and others. The packaging segment is estimated to hold the largest market share during the forecast period due to the increasing use in producing construction products including floor covering, windows, fittings, and pipes.

Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.  

Inquire Before the Buying the Report:

https://www.fortunebusinessinsights.com/enquiry/queries/plastics-market-102176

Report Coverage-

The report offers:

  • Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
  • Comprehensive insights into regional developments.
  • List of major industry players.
  • Key strategies adopted by the market players.
  • The latest industry developments include product launches, partnerships, mergers, and acquisitions.

Drivers & Restraints-

Increasing Packaging Industry Demand for Plastics to Drive Market Growth

The demand for plastics is rising across various industries, including food & beverage, automotive, consumer goods, and electrical and electronics. The rising need for packaging from the food & beverage industry is boosting the market growth during the forecast period. The demand for plastics is increasing due to their ability to act as a barrier between the external environment and food products.

Several governmental regulations over product usage are estimated to affect the market growth during the forecast period.

Regional Insights-

High Availability of Raw Materials to Propel Market in Asia Pacific

Asia Pacific will hold the largest plastics market share during the forecast period, accounting for USD 316.10 billion in 2022. China will lead the region due to high availability of raw materials at low rates. Strong construction and packaging industry growth will propel market growth in Asia Pacific.

North America is estimated to have substantial growth in the market due to increasing demand from the automobile industry in the region during the forecast period.

Ask for Customization:

https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/plastics-market-102176

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Emerging Trends
  • Key Insights
    • Key Market Trends in the Global Market
    • Key Developments: Mergers, Acquisition, Partnership, etc. .
    • Latest Technological Advancement
    • Insights on Regulatory Scenario
    • Porters Five Forces Analysis
    • Price Trend Analysis
  • Qualitative Insights Impact of COVID 19 on Global Plastic Market
    • Supply Chain Challenges
    • Steps taken by Government/Companies to overcome this impact
    • Potential opportunities due to COVID-19 outbreak

TOC Continued…!

Competitive Landscape-

Key Players Focus on Partnership to Aid Market Growth

Most of the major key players in the market have worldwide presence. The key players are adopting collaborative strategies to maintain their position in the market during the forecast period. For instance, ExxonMobil is adopting joint ventures and new product development strategies to expand its business worldwide.

Key Industry Development

January 2022 – The Reclay Group, a world leader in environmental and material recovery management, and Borealis, a leading advanced and circular polyolefin solutions producer, partnered to meet the rising demand for recyclate material for high-end plastic applications. The partnership is estimated to help consumers accomplish their sustainability goals.

Have a Look at Related Research Insights:

Self-Healing Materials Market  Size Worth 62.66 billion by 2028 | Exhibiting a CAGR of 62.5%

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone:

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email:sales@fortunebusinessinsights.com

LinkedIn  Facebook  Twitter           

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.