Plastics Industry is anticipated to grow further up to USD 307,966.70 Kilotons 2021Posted by rahul nikade on April 21st, 2023 Plastics Industry Data Book Covers Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Markets. The economic value generated by the industry was estimated at approximately 307,966.7 kilotons in 2021. Grand View Research’s plastics industry databook is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book. plastic resins market Insights The global plastic resins market size was estimated at USD 731.25 billion in 2021, projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. The crystalline resins product segment accounted for the maximum revenue share of more than 62% in 2021 and is expected to maintain its dominance throughout the forecast period. The Polyethylene (PE) resin sub-segment accounted for a prominent share in the crystalline type segment owing to their increasing demand from food packaging, stretch wrap, medical applications, etc. The non-crystalline resin segment accounted for around 1/5th of the overall revenue share in 2021. The packaging segment accounted for the highest revenue share of more than 36% in 2021 and is projected to expand further at a steady CAGR over the forecast period. The growing packaging industry supported by the increasing demand for packaged foods and beverages will boost the segment growth. In addition, various government bodies have laid down stringent guidelines regarding the safe usage of plastic materials in food and beverage applications, which is likely to support the segment growth. Access the Global Plastics Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies Plastic Compounding Market Insights The global plastic compounding market size was valued at USD 60.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2022 to 2030. The polypropylene segment led the market and accounted for more than 25.0% share of the global revenue in 2021. Its compounds are largely used in automotive applications owing to the high impact resistance and serviceability. Economic growth in Asian and Latin American markets has propelled growth in the automotive sector both in terms of vehicle sales and domestic production. The automotive segment accounted for more than 20.0% share of the overall revenue in 2021. Increasing incorporation of plastics, as opposed to metals and alloys in automotive components, has been a major factor fueling the segment growth. Over the recent past, there has been a considerable rise in automotive production, which is largely driven by the growth of the industry and the manufacturing landscape of emerging markets. Recycled Plastics Market Insights The global recycled plastics market size was valued at USD 47.60 billion in 2022 and is expected to exhibit a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. Polyethylene product segment led the market and accounted for more than 26% share of the global revenue in 2022. This high share is attributable to the rising demand for packaging material in consumer goods, food & beverage, industrial and various other industries. Additionally, it is commonly used in laundry detergents packaging, milk cartons, cutting boards, and garbage bins, among various other applications. Plastic bottles source segment led the market and accounted for more than 74% share of the global revenue in 2022. Plastics bottles are the major sources of recycled products. Plastic bottles are used in various applications across various industries in the packaging of water, oils, pharmaceuticals, and carbonated drinks. Packaging application segment led the market and accounted for more than 37% share of the global revenue in 2022. This high share is attributable to rising demand of packed food & beverages, electrical & electronics, and textiles. Personal hygiene products, such as electronic trimmers, shavers, along with automotive components, clothing produced from recycled plastics are the major products that driving the demand of recycled plastics. Plastics Market – Global Industry Segmentation Plastic Market Size & Forecasts, by Product, 2019 - 2030 Volume (Kilotons)
Plastics Market Size & Forecasts, by Application, 2019 - 2030 Volume (Kilotons)
Plastics Market Size & Forecasts, by End-use, 2019 - 2030 Volume (Kilotons)
Plastic Additives Plastic Market Size & Forecasts, by Function, 2019 - 2030 Volume (Kilotons)
Plastics Additives Market Size & Forecasts, by Product, 2019 - 2030 Volume (Kilotons)
Plastic Compounds Plastic Market Size & Forecasts, by Function, 2019 - 2030 Volume (Kilotons)
Plastic Compounds Market Size & Forecasts, by Technology, 2019 - 2030 Volume (Kilotons)
Plastic Compounds Market Size & Forecasts, by Filler, 2019 - 2030 Volume (Kilotons)
Plastic Compounds Market Size & Forecasts, by End-use, 2019 - 2030 Volume (Kilotons)
Recycled Plastics Market Size & Forecasts, by Product, 2019 - 2030 Volume (Kilotons)
Recycled Plastics Market Size & Forecasts, by Source, 2019 - 2030 Volume (Kilotons)
Recycled Plastics Market Size & Forecasts, by Application, 2019 - 2030 Volume (Kilotons)
Order your copy of the Free Sample of “Plastics Industry Data Book - Plastic Resins, Plastic Additive, Plastic Compounds and Recycled Plastics Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research Plastics Industry Data Book Regional Outlook
Plastics Industry Data Book Competitive Landscape The companies in the market compete on the basis of product quality offered and the technology used for the production of plastics. Major players compete on the basis of application development capability and new technologies used in product formulation. Key players operating in the plastics industry are –
Go through the table of content of Plastics Industry Data Book to get a better understanding of the Coverage & Scope of the study About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: sales@grandviewresearch.com Like it? Share it! More by this author |