Plastics Market Size, Share, Emerging Trends, Sales Revenue, Key Players Analysis, Opportunity Assessment and Regional Forecast to 2025

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Plastics Industry report offers a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures. On the basis of product, this report displays the Cost Structure, Sales Revenue, Sales Volume, Gross Margin, market share and growth rate.

Market Synopsis

According to the MRFR analysis, the Global Plastics Market was valued at USD 545.2 billion in 2018 and is expected to reach over USD 791.2 Billion by the end of 2025 at a CAGR of 4.3%.

The plastics is one of the most evolving markets in the past few years. Plastic products are used in various industries such as automotive & transportation, building & construction, consumer appliances, electrical & electronics, packaging, and medical. The increasing demand for reinforced plastics is projected to drive the growth of the global plastics market during the forecast period. Moreover, biodegradable plastics are also gaining popularity in various industries since they are all sourced from plants and vegetable extracts. The biodegradable plastics market is projected to value more than USD 6.5 billion by 2025.

Key Players of Global Plastics Market

BASF SE (Germany),SABIC (Saudi Arabia),DowDuPont (US),Evonik Group (Germany),Sumitomo Chemicals (Japan),Arkema Group (France),Celanese Corporation (US),Eastman Chemical Company (US),Chevron,Phillips Chemical Co. LLC (US),Lotte Chemical Corporation (South Korea),ExxonMobil (US),Formosa Plastics (Taiwan),Covestro AG (Germany)

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Global Plastics Market Opportunity Analysis

The automotive industry is one of the major consumers of plastics. Therefore, the change in the plastic material selection can have major implications on the demand for plastic and financial performance of plastic manufacturers. At present, approximately one-third of the parts used in automobiles are made of plastics. Moreover, more than 35 types of plastic materials are used in the manufacturing of automobile parts and more than 70% of the plastic materials are polyurethane, polyamides, polypropylene, and PVC.

The emergence and rapid expansion of the electric vehicles segment are projected to play a major role while considering the market outlook of the automotive industry. While the overall production of electrical vehicles remains at low on the global level, electrification of vehicle fleet has gained massive momentum in the past few years. Despite robust growth of the electric vehicles segment across the world, internal combustion engine based automotive is projected to acquire largest proportion of the vehicle fleet.

Global Plastics Market Segments

By Type

  • Polypropylene (PP): The polypropylene (PP) product segment held the second-largest market share in 2018. The growing preference for PP products as an alternative to other traditional materials such as metals is projected to fuel the product demand over the forecast period.
  • Polyethylene Terephthalate (PET): The PET product segment is projected to witness significant market growth in the global market owing to the rising demand in the food & beverage industry and easy recycling of PET products.

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Plastics Market Regions

North America: A well-established automotive industry and high emphasis on renewable energy sources are propelling the growth of the North American market. In addition, increasing reconstruction activities is likely to boost the product demand in the regional market.

Europe: Presence of major automotive manufacturers and OEM players is expected to result in the steady market growth over the forecast period.

Asia-Pacific: Held the largest market share, over 50%, in 2018 and is projected to retain its dominance during the forecast period. The region is also projected to witness the fastest growth over the forecast period owing to high demand in various end-use industries, especially automotive, electrical & electronics, consumer appliances, and construction. Robust growth of the end-use industries in major economies such as China, India, and Japan coupled with emergence of end use industries in Southeast Asian countries in these is further projected to fuel the demand for plastics over the forecast period.

Latin America: Rapidly expanding automotive and construction industries is expected to boost the growth of the plastics market in the region. The consumer electronics sector is expected to witness robust growth in the region over the forecast period.

Middle East & Africa: Ready supply of crude oil and expansion of the building & construction industry is expected to contribute to the growth of the regional market growth over the forecast period.

By Application

  • Packaging: The increasing demand for packaging in various industries such as healthcare, food & beverage, cosmetics, personal care, and electronics is expected to propel the growth of the plastics market during the forecast period.
  • Automotive & Transportation: Stringent regulations pertaining to carbon emissions and increasing need to reduce the weight of the vehicle to enhance the vehicle efficiency are expected to fuel the demand for plastic materials over the forecast period.
  • Building & Construction: The infrastructure development in emerging countries such as China, India, Brazil, and South-East Asia is driving the demand for plastic in the construction industry.

By Region

  • North America: The growth is driven by the well-established automotive industry.
  • Europe: The market is projected to witness steady growth.
  • Asia-Pacific: The largest and fastest-growing regional market.
  • Latin America: A small but growing automotive industry in Brazil, Mexico, and Argentina will drive the plastics market growth.
  • Middle East & Africa: Ready supply of raw materials is exhibiting high growth opportunities in the region.

Table Of Contents

1 EXECUTIVE SUMMARY

1.1. Market Attractiveness Analysis

1.1.1. Global Plastics Market, By Type

1.1.2. Global Plastics Market, By Application

2 MARKET INTRODUCTION

2.1. Definition

2.2. Scope Of The Study

2.3. Assumptions & Limitations

2.4. Market Structure

3B RESEARCH METHODOLOGY

3.1. Research Process

3.2. Primary Research

3.3. Secondary Research

3.4. Market Size Estimation

3.5. Forecast Model

3.6. List Of Assumptions

4 MARKET DYNAMICS

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

4.6. Trends

5 MARKET FACTOR ANALYSIS

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