Plastics Industry Data Book - Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Plastics Industry was estimated at 307,966.7 kilotones in 2021 and is anticipated to increase at a significant CAGR from 2022 to 2030.
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.
Plastic Resins Market Insights
The global plastic resin market size was valued at 349,628.9 kilotones in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 3.2% from 2022 to 2030. Rising product demand from the construction, automotive, and electrical and electronics industries is driving market expansion. The rapidly growing global automotive sector is predicted to drive product demand in applications such as under-the-hood components, automobile exteriors, and interiors. The demand for lightweight and economical multi-utility vehicle models with high fuel efficiency and an emphasis on aesthetics and comfort is driving the increased use of resins in the automobile industry.
Asia Pacific plastic resins market is characterized by various manufacturing industry, as a result of the increased emphasis on research and development, combined with favorable government initiatives to attract investments, is likely to result in regional market expansion. China is self-sufficient in plastic production, with an appropriate number of factories and production capacity to meet domestic demand. Furthermore, because of its enormous manufacturing base, China exports a variety of plastics to neighboring countries.
Moreover, over the years, the market has grown rapidly, fueled by diverse industries including as packaging, automotive, construction, electronics, and consumer products. Increased income levels contribute to increased purchase of consumer products, which is predicted to raise demand for plastic resins in China.
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
Recycled Plastics Market Insights
The global recycled plastics market size was estimated at 50,465.24 kilotones in 2021 and is projected to grow at a CAGR of 3.3% from 2022 to 2030. Increasing plastic consumption in the production of lightweight components which are used in various industries including building & construction, automotive, electrical & electronics, and various other industries are expected to propel the market growth over the forecast period.
The rise in online purchases of electrical & electronics, personal care products and personal protective equipment products such as gloves, face masks, and various products is driving the demand for recycled plastics used in different types of packaging sources.
According to the Verge, the demand for affordable consumer electronic products such as laptops, mobile, modems and various others have increased majorly through e-commerce websites. These rise in demand for consumer electronic have propelled the demand of recycled plastics in electrical & electronics and packaging source which is expected to boost the demand over the forecast period.
The growth of the construction industry in emerging economies such as Brazil, China, India, and Mexico is expected to drive the demand for recycled plastics in the manufacturing of components such as insulation, fixtures, structural lumber, windows, fences, and various others over the forecast period. The growth of recycled plastic in building & construction market can be attributed to increased foreign investment in these countries construction industry, as a result of easing FDI norms and requirements for redevelopment of public and industrial infrastructure.
Go through the table of content of Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study
Plastics Industry Data Book Competitive Landscape
The companies in the market compete on the basis of product quality offered and the technology used for the production of plastics. Major players compete on the basis of application development capability and new technologies used in product formulation.
Key players operating in the Plastics Industry are:
- BASF SE
- SABIC
- Dow Inc
- DuPont de Nemours, Inc
- Evonik Industries
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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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