Plastic Material and Resins Market Report 2026

The plastic material and resins market size has grown strongly in recent years. It will grow from $829.52 billion in 2025 to $895.13 billion in 2026 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to growth of packaging industry, expansion of consumer goods manufacturing, increasing urbanization, availability of low cost polymers, rising use of plastics in daily applications.

The plastic material and resins market size is expected to see strong growth in the next few years. It will grow to $1.2 trillion in 2030 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to growth in sustainable packaging demand, expansion of electric vehicle production, increasing use in medical applications, advancements in polymer technology, rising demand for high strength plastics. Major trends in the forecast period include rising demand for lightweight plastic materials, increasing use of high performance engineering resins, growing adoption of recyclable plastic materials, expansion of plastics in packaging applications, rising demand for customized plastic resin grades.

The increasing construction activities are expected to drive the growth of the plastic material and resin market going forward. Construction activities refer to the processes involved in planning, designing, executing, and completing building structures, infrastructure, or engineering projects. Construction activities are rising due to increased urbanization, which boosts demand for housing, infrastructure, and commercial spaces. Plastic materials and resins are used in construction to provide lightweight, durable, and weather-resistant components for pipes, insulation, coatings, and structural applications. For instance, in July 2023, according to the Australian Bureau of Statistics, an Australian-based government administration, the number of dwellings under construction in the March quarter of 2023 increased to 240,813, up from 240,065 in 2022. Among these, new houses totaled 103,778, compared to 101,240 in the previous year. Therefore, increasing construction activities are driving the growth of the plastic material and resin market.

The increase in demand for electric vehicles (EVs) is expected to propel the growth of the plastic material and resin market going forward. Electric vehicles (EVs) refer to vehicles propelled by an electric motor drawing power from a battery that can be charged externally. The rising demand for electric vehicles (EVs) has increased the need for lightweight and durable plastic materials and resins in automotive components, including battery enclosures, interior parts, and lightweight structural elements, driving the plastic material and resin market within the automotive sector. For instance, in April 2024, according to the International Energy Agency (IEA), a France-based intergovernmental organization, the number of new electric car registrations in China reached 8.1 million in 2023, a 35% increase compared to 2022. Therefore, the growing demand for electric vehicles (EVs) is fueling the growth of the plastic material and resin market.

Major companies operating in the plastic material and resin markets are focusing on the development of innovative products such as seaweed resin to sustain their position in the market. Seaweed resin refers to a biodegradable and sustainable material derived from seaweed extracts used as an eco-friendly alternative to traditional petroleum-based plastics and resins. For instance, in May 2023, Loliware Inc., a US-based materials science company, has introduced its latest seaweed-based resin designed for injection molding applications. The new ocean-safe material is engineered to run smoothly on existing plastic manufacturing equipment, eliminating the need for specialized machinery or process changes. This advanced biomaterial will be used to produce the company’s first seaweed-derived utensil set, marking a significant step toward scalable, environmentally friendly alternatives to traditional plastics. By enabling production through standard injection molding systems, Loliware aims to accelerate the adoption of sustainable materials across the industry while promoting a more circular, ocean-conscious approach to product manufacturing.

Major companies operating in the plastic material and resins market are LyondellBasell Industries Holdings BV, Total SE, INEOS AG, Lotte Chemical Corporation, BASF SE, Covestro AG, Formosa Plastics Corp., Westlake Chemical Corp., Dow, Abu Dhabi National Oil Company (ADNOC), China Petrochemical Corporation (Sinopec), China National Petroleum Corporation, Exxon Mobil, Saudi Aramco, Chevron Phillips Chemical Company, Braskem, Qatar Petrochemical Company, Reliance Industries Ltd, Borealis Group, LG Chemical, INEOS Group, Solvay S.A., Eastman Chemical Company, Celanese Corp., DuPont, Sumitomo Chemical Company Limited, Shanghai Huayi (Group), Zhenjiang Chimei Chemical Co. Ltd., Sichuan Jinlu Group Co. Ltd., Soltex Group, POLYNT S.p.A., NCS Resins (Pty) Ltd, Yabang Investment Holding Group Co. Ltd.

Asia-Pacific was the largest region in the plastic material and resins market in 2025. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic material and resins market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plastic material and resins market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. 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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