Plastic Market Size Worth $811.57 Billion By 2030

The global plastic market totaled USD 593.00 billion in 2021 and is anticipated to exhibit expansion at a CAGR of 3.7% from 2022 to 2030. The growing population, industrialization, and rapid rising urbanization are increasing the demand for lightweight materials at lower costs. The production rate of manufacturing products from such lightweight materials is high. The plastics market is skyrocketing due to its lightweight characteristics. Besides the use of material varies in every industry and it is used in major industries such as automotive, electrical & electronics, construction, packaging, and among others.

The government in developing countries is focusing on the infrastructural needs of the population. Hence, to construct the construction industry strong, the demand for plastic is increasing as the material costs are low and contain the required characteristics. Moreover, the guidelines implemented for the depletion and recycling of conventional materials such as metal and wood. Thus, plastic has become the most preferred material in industries.

Nowadays, the aesthetic appeals of the products have become the new trend and the population tends to prefer the products to their appeals. Using plastic, the products can be easily modified or molded as per the requirements. The color combinations can be of wide range for customer satisfaction. Besides, the aesthetic appeals are attracting GenZ and Millennials as well, creating opportunities for market growth during the forecast period.

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Plastic Market Report Highlights

• Based on product insights, the polyethylene segment led the market accounting for over 25% of the total market share in 2021. The most trending packaging industry is using polyethylene for their use

• Based on application insights, injection molding dominated the market accounting for over 43% of the total market share in 2021. The method is highly used to produce plastic parts

• Based on end-use, the packaging industry is leading the market. The packaging end-use segment accounted for over 36% of the overall market share in 2021. The emergence of the COVID-19 pandemic boosted the packaging industry and the rising demand for plastics

• Based on the regional insights, the Asia Pacific dominated the market with account for 44% of the total market share. Manufacturing, automotive, construction, electronics, and among other major industries are on the rise in the region, demanding high-quality, low-cost plastics

Plastic Market Report Segments

Plastic Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • Polyethylene (PE)
    • Polypropylene (PP)
    • Polyurethane (PU)
    • Polyvinyl chloride (PVC)
    • Polyethylene terephthalate (PET
    • Polystyrene (PS)
    • Acrylonitrile butadiene styrene (ABS)
    • Polybutylene terephthalate (PBT)
    • Polyphenylene Oxide (PPO)
    • Epoxy Polymers
    • Liquid Crystal Polymers
    • Polyether ether ketone (PEEK)
    • Polycarbonate (PC)
    • Polyamide (PA)
    • Polysulfone (PSU)
    • Polyphenylsulfone (PPSU)
    • Others

Plastic Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • Injection Molding
    • Blow Molding
    • Roto Molding
    • Compression Molding
    • Casting
    • Thermoforming
    • Extrusion
    • Calendering
    • Others

Plastic End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • Packaging
    • Construction
    • Electrical & Electronics
    • Automotive
    • Medical Devices
    • Agriculture
    • Furniture & Bedding
    • Consumer Goods
    • Utility
    • Others

Plastic Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • France
        • U.K.
        • Italy
        • Poland
        • Spain
    • China
    • Asia Pacific (excluding China)
        • India
        • Japan
        • Southeast Asia
    • Central & South America
        • Brazil
        • Argentina
        • Colombia
        • Chile
        • Other CSA (Costa Rica, Cuba, Peru)
    • Middle East & Africa
        • Saudi Arabia
        • United Arab Emirates (UAE)
        • Oman
        • Kenya
        • South Africa

List of key players in the Plastic market
    • BASF SE
    • SABIC
    • Dow Inc
    • DuPont de Nemours, Inc
    • Evonik Industries
    • Sumitomo Chemical Co., Ltd.
    • Arkema
    • Celanese Corporation
    • Eastman Chemical Company
    • Chevron Phillips Chemical Co., LLC
    • Lotte Chemical Corporation
    • Exxon Mobil Corporation
    • Formosa Plastic Corporation
    • Covestro AG
    • Toray Industries, Inc.
    • Mitsui & Co. Plastic Ltd.