The global plastic materials and resins market was valued at $490 billion in 2018. Asia-Pacific was the largest market for plastic materials and resins, accounting for 50.1% of the global market in 2018.
The plastic materials and resins market consists of the sales of plastic materials and resins by entities (organizations, sole traders or partnerships) that manufacture plastic materials, resins, and nonvulcanizable thermoplastic elastomers, and mix and blend resins on a custom basis and/or manufacture noncustomized synthetic resins.
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Plastic Materials And Resins Market Size
The global plastic materials and resins market size is expected to grow to over $569 billion in 2022 at an annual rate of about 3%. Growth in the historic period resulted from the increased demand for industrial packaging products, growth of key end-use markets for plastics, and technological developments.
LyondellBasell Industries Holdings BV was the largest competitor with around 4% of the plastic materials and resins market, followed by Total SA, Ineos AG, Formosa Plastics Corp. and Covestro (exact figures are mentioned in report).
LyondellBasell Industries was founded in 2005 and is headquartered in London, UK. It employs 13,000 people around the globe. LyondellBasell has 55 manufacturing sites in 17 countries and its products are sold in approximately 100 countries. The company also exports its products.
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Company profiles included in the plastic materials and resins market report are LyondellBasell Industries, Total SA, Ineos AG, Formosa Plastics Group, and Covestro AG.
The plastic materials and resins market manufacturing market is segmented into high density polyethylene, polypropylene, low-density polyethylene, polystyrene, poly-vinyl chloride, polyethylene terephthalate, polyurethane and others. Among these segments, the high density polyethylene market accounts for the second largest segment in the plastic materials and resins industry.
The top opportunities in the global plastic materials and resins market will arise in the others segment (which includes acrylic polymers, polyether`s, polyamide, epoxide resins, amino resins, polycarbonates, elastomeric resins, and fluro polymers), which will gain $31.83 billion of global annual sales by 2022.
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