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Global Plastic Resins Market by Application (Medical Devices, Packaging), by Product (Engineering Plastic, Crystalline Resin) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

  • Report ID: CM-73190
  • Author: Up Market Research
  • Rating: 4.8
  • Total Reviews: 92
  • No. Of Pages: 235
  • Format:
  • Pub. Date: 2021-10-21
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Summary of the Report

Global plastic resins market was worth USD 7111.0 billion in 2020. It is projected to grow at a compound annual rate (CAGR of 4.2%) between 2021 and 2028. The key driver of market growth is rising product demand in the construction, automotive and electrical & electronic sectors. Global automotive industry growth is expected to drive product demand for applications such as exteriors and interiors of automobiles, under-the-hood parts, and exteriors. The demand for light and affordable multi-utility vehicles with high fuel efficiency, aesthetics and comfort is driving the increasing use of resins in automotive.

Due to rising COVID-19 cases around the world, the healthcare industry is expected to see an increase in product consumption. The rising spending of various governments in the construction sector, particularly in India and China is expected to increase product demand for infrastructure and other construction applications.

The Asia Pacific region was the fastest growing construction market in 2020. The countries that are expected to see significant growth in the construction market over the forecast period include Australia, Japan, Indonesia, China, and Japan.

Product Insights

In 2020, the crystalline resins product category accounted for 61% of the total revenue and will continue to dominate the forecast period. Due to the increasing demand for polyethylene resins in medical applications and food packaging, as well as stretch wrap and other products, the Polyethylene (PE), sub-segment made up a significant portion of the crystalline type segment. In 2020, the non-crystalline resin segment was responsible for approximately 1/5th of overall revenue share. The increasing use of polyamide, polyetherether ketone and liquid crystal polymers is expected to decrease the demand for these products over the next few years.

A small portion of the market was occupied by engineering plastics. It is predicted to grow at an above-average rate during the forecast period. These plastics have excellent mechanical and thermal properties, wear & chemicals resistance, and dimension stability. The super engineering segment of plastics is expected to grow at 4.1% CAGR during the forecast period. These products are used extensively in semiconductor packaging and high-speed connectors packaging. They also have medical applications due to their high thermal and electrical properties.

Application Insights

In 2020, the packaging segment was responsible for more than 36% of the total revenue. It is expected to grow at a steady CAGR during the forecast period. Segment growth will be supported by a growing packaging industry and increasing demand for packaged food and beverages. Segment growth is also likely to be supported by the fact that several government agencies have established strict guidelines for safe plastic material use in food and beverage applications.

The market for automotive applications is expected to grow significantly in the next few years due to the increased use of plastics in automotive parts and a rise of production of passenger cars and heavy-duty vehicles, especially in the Asia Pacific region. From 2021 to 2028, the medical device application sector is expected to experience the highest CAGR. Because of their clarity, cost-effectiveness and biocompatibility, resins are used in medical device manufacturing. To achieve the desired properties for medical devices, polymers such as Polyethylene and Polystyrene are mixed.

Regional Insights

China was responsible for 33% of the total revenue in 2020. China has sufficient plastic production capacity and plants to meet local demand. This makes it self-sufficient. China has a large plastics production base, which means that it exports many types of plastics to its neighboring countries. North America will experience moderate growth in the coming years. The FDA, EPA and other agencies will likely impose restrictions on the production of food products. However, this restriction is expected to be offset by sustainable production methods and long-term sustainability.

Europe will experience a lower-than-average rate of growth in the next few years. The European market is characterized by stringent environmental regulations from regulatory bodies such as the European Chemicals Agency and the European Commission. Many European countries have had landfill bans for decades, including France, Germany and Austria. The high landfill tipping fees, dumping rates, waste management and closing costs of landfills has encouraged Europeans to use recycled products. Zero Waste Europe, an organization that works to eliminate waste in society, is working with the European Commission to reduce residual waste.

Market Share Insights & Key Companies

Due to the presence of many local and regional players, the global market is highly fragmented. Global players are constantly in competition with each other, as well as regional players who have strong distribution channels and are knowledgeable about regulations and suppliers. Through various expansion strategies, key manufacturers continue to focus on increasing their presence in emerging markets like Asia Pacific and the Middle East & Africa.

DowDuPont, for example, invested USD 80 million in December 2018 to build a new manufacturing plant in Shanghai, China. It is expected to be operational by 2021. This facility will be used to produce adhesives and plastics to meet the growing demand in different industries, including electronics and consumer and industrial goods.

Companies have taken various initiatives in response to the pandemic. Eastman Chemical Company donated more than 1,000 feet of PETG to Austin Peay State University, Clarksville, in March 2021 for the production of 3D-printed facial shields. The following are some of the major players in the global market for plastic resins:

  • BASF SE

  • SABIC

  • Dow, Inc.

  • Evonik Industries AG

  • Sumitomo Chemical

  • Arkema

  • Celanese Corp.

  • Eastman Chemical Company

  • Chevron Phillips Chemical Co. LLC

  • Lotte Chemical Corp.

  • Covestro AG

  • Toray Industries, Inc.

  • Teijin Ltd.

Up Market Research published a new report titled “Plastic Resins Market research report which is segmented by Application (Medical Devices, Packaging), by Product (Engineering Plastic, Crystalline Resin), By Players/Companies Lotte Chemical Corp, Arkema, Chevron Phillips Chemical Co LLC, BASF SE, Teijin Ltd, SABIC, Toray Industries Inc, Eastman Chemical Company, Celanese Corp, Dow Inc, Sumitomo Chemical, Evonik Industries AG, Covestro AG”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.


Report Scope

Report AttributesReport Details
Report TitlePlastic Resins Market Research Report
By ApplicationMedical Devices, Packaging
By ProductEngineering Plastic, Crystalline Resin
By CompaniesLotte Chemical Corp, Arkema, Chevron Phillips Chemical Co LLC, BASF SE, Teijin Ltd, SABIC, Toray Industries Inc, Eastman Chemical Company, Celanese Corp, Dow Inc, Sumitomo Chemical, Evonik Industries AG, Covestro AG
Regions CoveredNorth America, Europe, APAC, Latin America, MEA
Base Year2020
Historical Year2018 to 2019 (Data from 2010 can be provided as per availability)
Forecast Year2028
Number of Pages235
Number of Tables & Figures165
Customization AvailableYes, the report can be customized as per your need.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.


Global Plastic Resins Industry Outlook

Global Plastic Resins Market Report Segments:

The market is segmented by Application (Medical Devices, Packaging), by Product (Engineering Plastic, Crystalline Resin).

Plastic Resins Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.


Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Plastic Resins Market

Overview of the regional outlook of the Plastic Resins Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.


Plastic Resins Market Overview

Highlights of The Plastic Resins Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of Plastic Resins Market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2028.
  5. Developments and trends in the market.
        6. By Application:

                1. Medical Devices

                2. Packaging

        7. By Product:

                1. Engineering Plastic

                2. Crystalline Resin

  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Plastic Resins Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.


How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Plastic Resins Market Trends

Reasons to Purchase the Plastic Resins Market Report:

  • The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
  • Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
  • Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
  • The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
  • Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Plastic Resins Market Overview
   4.1 Introduction 
      4.1.1 Market Taxonomy 
      4.1.2 Market Definition 
      4.1.3 Macro-Economic Factors Impacting the Market Growth 
   4.2 Plastic Resins Market Dynamics 
      4.2.1 Market Drivers 
      4.2.2 Market Restraints 
      4.2.3 Market Opportunity 
   4.3 Plastic Resins Market - Supply Chain Analysis 
      4.3.1 List of Key Suppliers 
      4.3.2 List of Key Distributors 
      4.3.3 List of Key Consumers 
   4.4 Key Forces Shaping the Plastic Resins Market 
      4.4.1 Bargaining Power of Suppliers 
      4.4.2 Bargaining Power of Buyers 
      4.4.3 Threat of Substitution 
      4.4.4 Threat of New Entrants 
      4.4.5 Competitive Rivalry 
   4.5 Global Plastic Resins Market Size & Forecast, 2018-2028 
      4.5.1 Plastic Resins Market Size and Y-o-Y Growth 
      4.5.2 Plastic Resins Market Absolute $ Opportunity 


Chapter 5 Global Plastic Resins Market Analysis and Forecast by Application
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Application
      5.1.2 Basis Point Share (BPS) Analysis by Application
      5.1.3 Absolute $ Opportunity Assessment by Application
   5.2 Plastic Resins Market Size Forecast by Application
      5.2.1 Medical Devices
      5.2.2 Packaging
   5.3 Market Attractiveness Analysis by Application

Chapter 6 Global Plastic Resins Market Analysis and Forecast by Product
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Product
      6.1.2 Basis Point Share (BPS) Analysis by Product
      6.1.3 Absolute $ Opportunity Assessment by Product
   6.2 Plastic Resins Market Size Forecast by Product
      6.2.1 Engineering Plastic
      6.2.2 Crystalline Resin
   6.3 Market Attractiveness Analysis by Product

Chapter 7 Global Plastic Resins Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Plastic Resins Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Plastic Resins Analysis and Forecast
   9.1 Introduction
   9.2 North America Plastic Resins Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Plastic Resins Market Size Forecast by Application
      9.6.1 Medical Devices
      9.6.2 Packaging
   9.7 Basis Point Share (BPS) Analysis by Application 
   9.8 Absolute $ Opportunity Assessment by Application 
   9.9 Market Attractiveness Analysis by Application
   9.10 North America Plastic Resins Market Size Forecast by Product
      9.10.1 Engineering Plastic
      9.10.2 Crystalline Resin
   9.11 Basis Point Share (BPS) Analysis by Product 
   9.12 Absolute $ Opportunity Assessment by Product 
   9.13 Market Attractiveness Analysis by Product

Chapter 10 Europe Plastic Resins Analysis and Forecast
   10.1 Introduction
   10.2 Europe Plastic Resins Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Plastic Resins Market Size Forecast by Application
      10.6.1 Medical Devices
      10.6.2 Packaging
   10.7 Basis Point Share (BPS) Analysis by Application 
   10.8 Absolute $ Opportunity Assessment by Application 
   10.9 Market Attractiveness Analysis by Application
   10.10 Europe Plastic Resins Market Size Forecast by Product
      10.10.1 Engineering Plastic
      10.10.2 Crystalline Resin
   10.11 Basis Point Share (BPS) Analysis by Product 
   10.12 Absolute $ Opportunity Assessment by Product 
   10.13 Market Attractiveness Analysis by Product

Chapter 11 Asia Pacific Plastic Resins Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Plastic Resins Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Plastic Resins Market Size Forecast by Application
      11.6.1 Medical Devices
      11.6.2 Packaging
   11.7 Basis Point Share (BPS) Analysis by Application 
   11.8 Absolute $ Opportunity Assessment by Application 
   11.9 Market Attractiveness Analysis by Application
   11.10 Asia Pacific Plastic Resins Market Size Forecast by Product
      11.10.1 Engineering Plastic
      11.10.2 Crystalline Resin
   11.11 Basis Point Share (BPS) Analysis by Product 
   11.12 Absolute $ Opportunity Assessment by Product 
   11.13 Market Attractiveness Analysis by Product

Chapter 12 Latin America Plastic Resins Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Plastic Resins Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Plastic Resins Market Size Forecast by Application
      12.6.1 Medical Devices
      12.6.2 Packaging
   12.7 Basis Point Share (BPS) Analysis by Application 
   12.8 Absolute $ Opportunity Assessment by Application 
   12.9 Market Attractiveness Analysis by Application
   12.10 Latin America Plastic Resins Market Size Forecast by Product
      12.10.1 Engineering Plastic
      12.10.2 Crystalline Resin
   12.11 Basis Point Share (BPS) Analysis by Product 
   12.12 Absolute $ Opportunity Assessment by Product 
   12.13 Market Attractiveness Analysis by Product

Chapter 13 Middle East & Africa (MEA) Plastic Resins Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Plastic Resins Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Plastic Resins Market Size Forecast by Application
      13.6.1 Medical Devices
      13.6.2 Packaging
   13.7 Basis Point Share (BPS) Analysis by Application 
   13.8 Absolute $ Opportunity Assessment by Application 
   13.9 Market Attractiveness Analysis by Application
   13.10 Middle East & Africa (MEA) Plastic Resins Market Size Forecast by Product
      13.10.1 Engineering Plastic
      13.10.2 Crystalline Resin
   13.11 Basis Point Share (BPS) Analysis by Product 
   13.12 Absolute $ Opportunity Assessment by Product 
   13.13 Market Attractiveness Analysis by Product

Chapter 14 Competition Landscape 
   14.1 Plastic Resins Market: Competitive Dashboard
   14.2 Global Plastic Resins Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 Lotte Chemical Corp
      14.3.2 Arkema
      14.3.3 Chevron Phillips Chemical Co LLC
      14.3.4 BASF SE
      14.3.5 Teijin Ltd
      14.3.6 SABIC
      14.3.7 Toray Industries Inc
      14.3.8 Eastman Chemical Company
      14.3.9 Celanese Corp
      14.3.10 Dow Inc
      14.3.11 Sumitomo Chemical
      14.3.12 Evonik Industries AG
      14.3.13 Covestro AG
Segments Covered in the Report
The global Plastic Resins market has been segmented based on

By Application
  • Medical Devices
  • Packaging
By Product
  • Engineering Plastic
  • Crystalline Resin
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players
  • Lotte Chemical Corp
  • Arkema
  • Chevron Phillips Chemical Co LLC
  • BASF SE
  • Teijin Ltd
  • SABIC
  • Toray Industries Inc
  • Eastman Chemical Company
  • Celanese Corp
  • Dow Inc
  • Sumitomo Chemical
  • Evonik Industries AG
  • Covestro AG

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