Paper, Plastics, Rubber, Wood And Textile Global Market Report 2024

The paper, plastics, rubber, wood and textile market size has grown strongly in recent years. It will grow from $7,137.52 billion in 2023 to $7,661.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed during the historical period can be attributed to various factors, including economic conditions, fluctuations in raw material prices, shifts in consumer preferences, and the dynamics of global trade. These elements played a significant role in shaping the growth and development of industries related to paper, plastics, rubber, wood, and textiles.

The paper, plastics, rubber, wood and textile market size is expected to see strong growth in the next few years. It will grow to $10,003.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The projected growth in the forecast period can be attributed to several factors, including a growing emphasis on sustainability and environmental, social, and governance (ESG) factors, changing demographics, evolving consumer trends, the promotion of circular economy initiatives, and the rise of concepts like fast fashion and sustainable fashion. Noteworthy trends in the forecast period encompass the use of eco-friendly materials, the integration of digitalization and Industry 4.0 technologies, the development of smart and functional materials, and the increasing focus on personalization and customization in the paper, plastics, rubber, wood, and textile industries.

The paper, plastics, rubber, wood, and textile markets are anticipated to experience growth driven by the heightened demand for consumer goods. Consumer goods encompass products designed for individuals or households, and these markets supply essential components for various consumer goods, from packaging and electronics to furniture and clothing. For instance, the National Bureau of Statistics (NBS) reported in May 2023 that retail sales of China's consumer goods had increased by 18.4 percent year-on-year (YoY) in April 2023. Total sales during the January-April 2023 period reached a staggering 14.98 trillion yuan (around $2.16 trillion). Consequently, the increased demand for consumer goods is set to propel the paper, plastics, rubber, wood, and textile markets.

The primary categories encompass apparel and leather products, furniture, general manufactured goods, paper products, plastics and rubber products, printing and related support activities, textile and wood products. Leather and allied product manufacturers are involved in the process of tanning or curing hides and then crafting them into finished products. They also produce similar items from alternative materials, such as rubber, polymers, or textiles, excluding clothing. These products can have different natures, including organic and conventional, and are distributed through various channels like supermarkets or hypermarkets, convenience stores, e-commerce, and other retail outlets.

The paper, plastics, rubber, wood and textile market research report is one of a series of new reports that provides paper, plastics, rubber, wood and textile market statistics, including paper, plastics, rubber, wood and textile industry global market size, regional shares, competitors with a paper, plastics, rubber, wood and textile market share, detailed paper, plastics, rubber, wood and textile market segments, market trends and opportunities, and any further data you may need to thrive in the paper, plastics, rubber, wood and textile industry. This paper, plastics, rubber, wood and textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Technological advancements are expected to continue driving market growth during this period. Industries closely tied to technology, such as this one, have greatly benefited from this trend. For instance, technologies like Green Tires, addressing 20-30% of a vehicle's fuel consumption linked to tire performance, have gained traction during this period. Green Tires offer improved wet grip, durability, and lower rolling resistance, resulting in a 5-7% reduction in fuel consumption. Therefore, technological advances enhancing performance and reducing fuel consumption have contributed to market growth.

The outbreak of the COVID-19 disease (COVID-19) significantly restrained the paper, plastics, rubber, wood, and textile manufacturing market in 2022. The disruption of supply chains due to trade restrictions and reduced consumption caused by global government-imposed lockdowns had a considerable negative impact. COVID-19, characterized by flu-like symptoms including fever, cough, and respiratory difficulties, was first identified in 2019 in Wuhan, Hubei province of China and spread globally, affecting Western Europe, North America, and Asia. National governments' measures to contain transmission halted manufacturing activities and led to economic slowdown, with countries implementing lockdowns. Nonetheless, it is expected that the market for paper, plastics, rubber, wood, and textiles will recover from this setback over the forecast period, as the pandemic was a 'black swan' event not tied to inherent market weaknesses or global economic fundamentals.

Leading companies in the paper, plastics, rubber, wood, and textile markets are introducing innovative products like Hamaheat Super 80 to enhance their market profitability. Hamaheat Super 80 is a high-temperature, heat-resistant conveyor belt within the Hamaheat series. For example, in March 2023, Yokohama Rubber Co., Ltd., a Japan-based rubber manufacturer, unveiled the Hamaheat Super 80. This conveyor belt is designed for material transport at elevated temperatures, with a permissible belt surface temperature of up to 180 °C (350 °F).

Manufacturers in the plastic products industry are increasingly investing in automation technologies to reduce production costs, enhance productivity, and improve product quality. Utilizing sensors and wireless technology enables data collection, which is leveraged to enhance operational efficiency, reduce errors, streamline manufacturing processes, and ultimately lower costs. According to ABB, an industrial robot manufacturer, some of their customers reported a productivity increase of 15-30% after implementing robotic automation systems. The plastic manufacturing industry employed around 180,000 machines in 2021, signifying an increase of 67,000 machines over a four-year period. Key players providing industrial robotics include FANUC Corporation, Yaskawa Electric Corporation, ABB Group, KUKA AG, and Kawasaki Heavy Industries, Ltd.

Major companies operating in the paper, plastics, rubber, wood and textile market include Nike Inc., Christian Dior SE, Michelin Group, Adidas AG, Bridgestone Corporation, International Paper Company, Kimberly Clark Corporation, Procter & Gamble Co., WestRock Company, The Goodyear Tire & Rubber Company, Pirelli & C. SPA, ExxonMobil Product Solutions, The Yokohama Rubber Co. Ltd., Continental AG, Hankook Tire & Technology Co. Ltd., Sumitomo Rubber Industries Ltd., Apollo Tyres Limited, Kumho Tire Co. Inc., Nexen Tire Corporation, Toyo Tire Corporation, Yokohama Rubber Co. Ltd., Georgia-Pacific LLC, Weyerhaeuser Company, Avery Dennison Corporation, Berry Global Group Inc., Bemis Company Inc., Sealed Air Corporation, Sonoco Products Company, Graphic Packaging International Inc., Packaging Corporation of America.

Asia-Pacific was the largest region in the paper, plastics, rubber, wood and textile market in 2023. Western Europe was the second largest region in the paper, plastics, rubber, wood and textile market. The regions covered in the paper, plastics, rubber, wood and textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the paper, plastics, rubber, wood and textile market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The paper, plastic, rubber, wood, and textile market consists of sales of clothes, groceries, and wood furniture. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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