The global plastic resins market stood at a value of around USD 638.18 Billion in 2024 . The market is further expected to grow at a CAGR of 2.00 % in the forecast period of 2025-2034 to attain a value of nearly USD 777.94 Billion by 2034.
The global plastic resins industry is being driven by the heightened demand for plastic resins in various industry verticals including construction, automotive, packaging, and consumer goods, among others. Meanwhile, the rising demand for plastics in the manufacturing industry for the production of electronic devices and appliances is expected to provide a boost to the overall market growth. Moreover, the thriving construction industry is also predicted to propel the demand for the product in the forecast period. In addition, the exponential demand for plastic resins in the production of exterior as well as interior of automobiles is predicted to bolster the market growth, which is fuelled by the rising disposable incomes and increased demand for passenger vehicles among consumers. In 2021, plastic resins witnessed a robust demand in the production of disposable surgical wear such as gloves, gowns, hair covers, and protective shoes, among others, as the rampant spread of COVID-19 led to the increased adoption of protective gears around the globe.
Plastic Resins Market Growth
Based on the product, the polypropylene segment accounted for the largest market share in the plastic resins market for 2021. This can be attributed to the increased utilisation of polypropylene resins in the packaging of food and beverage products. As polypropylene resins are cost-effective, versatile, durable, and lightweight, their demand in various applications in major sectors, such as packaging, automotive, and consumer goods is surging, which is also estimated to significantly contribute to the market growth. Moreover, the increasing development of innovative polypropylene resins with improved properties by the leading companies is anticipated to provide lucrative growth opportunities to the overall market for plastic resins in the forecast period.The Asia Pacific to Possess a Considerable Market Share in the Global Plastic Resins Industry
The Asia Pacific is anticipated to occupy a significant share of the plastic resins industry in the forecast period. The growth of the market is likely to be driven by the rapid expansion of major end users of plastic resins in the region, especially China. The heightened production of plastic resins, and their increased usage across industry verticals such as packaging, and automotive, among others are anticipated to bolster the market growth in the forecast period. Moreover, the presence of leading manufacturers of plastic and its by-products is also anticipated to propel the industry growth in the region.Plastic Resins Industry Segmentation
Plastic resins are the core of all plastic products. These resins are created by heating hydrocarbons through the cracking process, wherein the released ethylene or propylene monomers undergo polymerisation to create polymer resins. These monomers, under heavy pressure, are mixed with a catalyst to form plastic pellets, also known as resins. These resins are then added to any plastic moulding or baking process, which then makes numerous plastics products.By product, the market is divided into:
- Polyethylene Terephthalate (PET)
- High Density Polyethylene (HDPE)
- Polyvinyl Chloride (PVC)
- Low Density Polyethylene (LDPE)
- Polypropylene (PP)
- Polystyrene (PS)
- Others
Based on application, the market can be categorised into:
- Packaging
- Automotive
- Construction
- Electrical and Electronics
- Consumer Goods
- Others
Market Breakup by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The global plastic resins industry is being driven by the heightened demand for plastic resins in various industry verticals including construction, automotive, packaging, and consumer goods, among others. Meanwhile, the rising demand for plastics in the manufacturing industry for the production of electronic devices and appliances is expected to provide a boost to the overall market growth. Moreover, the thriving construction industry is also predicted to propel the demand for the product in the forecast period. In addition, the exponential demand for plastic resins in the production of exterior as well as interior of automobiles is predicted to bolster the market growth, which is fuelled by the rising disposable incomes and increased demand for passenger vehicles among consumers. In 2021, plastic resins witnessed a robust demand in the production of disposable surgical wear such as gloves, gowns, hair covers, and protective shoes, among others, as the rampant spread of COVID-19 led to the increased adoption of protective gears around the globe.
Key Industry Players in the Global Plastic Resins Market
The report gives a detailed analysis of the following key players in the global plastic resins market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:- Arkema S.A.
- Celanese Corporation
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Formosa Plastics Corporation
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Plastic Resins Market Analysis
6 Regional Analysis
7 Market Dynamics
8 Price Analysis
9 Procurement Insights
10 Competitive Landscape
Companies Mentioned
- Arkema S.A.
- Celanese Corporation
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Formosa Plastics Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 151 |
| Published | July 2025 |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
