Plastic Resins Market Report 2025

This Plastic Resins report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The plastic resins market size has grown steadily in recent years. It will grow from $742.85 billion in 2024 to $779.85 billion in 2025 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to growth in plastics and polymer industries, expansion of manufacturing and injection molding, demand for versatile and lightweight materials, development of high-performance resins, increase in automotive and transportation applications.

The plastic resins market size is expected to see strong growth in the next few years. It will grow to $1.01 trillion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainable and eco-friendly resin formulations, growth in electric vehicle production, customized resin solutions for specific applications, demand for high-temperature and chemical-resistant resins, expansion in 3D printing and additive manufacturing. Major trends in the forecast period include bio-based and biodegradable plastic resins, regulatory compliance in resin safety, nanocomposite and reinforced plastic materials, smart resins for self-healing and shape-memory applications, circular economy practices in resin production.

The plastic resins market is experiencing growth driven by the increasing demand for lightweight materials in the automotive and aviation industries. These materials, known for high performance and safety, achieve comparable effects to aluminum and steel while reducing weight and carbon dioxide emissions in vehicles and aircraft. Plastic resins, a composite blend rotationally molded into durable and malleable items, are cost-effective and lightweight, used in manufacturing various automotive and aviation parts like door panels, flooring, and engine components. An example is Jamco Corporation's Venture Premium Class Seat, designed for sustainability to minimize operational costs for airlines. This seat, made with a high percentage of recycled material, is lighter than traditional seats, easy to install, and requires less maintenance. Thus, the rising demand for lightweight materials in the automotive and aviation industries propels the plastic resins market's growth.

The rapid pace of urbanization is anticipated to drive growth in the plastic resin market. Urbanization results in increased construction and infrastructure development within cities. This accelerating trend has led to a heightened demand for plastic resins, which are extensively used in the construction industry for various applications, including pipes, fittings, insulation, roofing, and flooring. For example, an article published by the World Bank in October 2022 reported that over 50% of the global population lived in urban areas in 2022. By 2045, the urban population worldwide is projected to increase by 1.5 times, reaching 6 billion. This swift growth in urbanization is expected to create significant demand for the plastic resin market.

Recycled plastic resins are reshaping the plastic resins market as companies focus on developing sustainable products. NOVA Chemicals Corporation, a Canadian producer of polyethylene resins, launched a mechanically recycled polyethylene resin, EX-PCR-NC4, allowing converters and brand owners to meet sustainability goals without compromising package performance. This emphasis on recycled materials aligns with the industry's move towards eco-friendly practices.

Strategic partnerships are being adopted by major companies in the plastic resin market to produce 100% post-consumer recycled resin, promoting circularity in the plastics industry. In August 2023, Republic Services and Ravago formed Blue Polymers, a partnership where recycled polyethylene and polypropylene from Republic Services' Polymer Centers will be processed into recycled resin for sustainable, food-grade, and non-food-grade products. Ravago will also market and distribute a portion of the pet flake generated at the centers among its customer network.

In August 2023, Ravago, Inc., a Belgium-based distributor and recycler of polymers and rubber with a diverse portfolio that includes a wide range of raw materials for various industries, acquired M. Holland Company for an undisclosed amount. This acquisition aims to strengthen Ravago, Inc.'s market presence and operational capabilities while promoting long-term growth and innovation within the plastics industry. M. Holland Company is a leading US-based distributor of thermoplastic resins, offering a broad selection of plastic materials to various industries.

Major companies operating in the plastic resins market include BASF SE, Saudi Basic Industries Corporation., Dow Inc., Evonik Industries AG, Sumitomo Chemical Co. Ltd., Arkema S.A., Celanese Corporation, Eastman Chemical Company, Chevron Phillips Chemical Co. LLC, Lotte Chemical Corporation, Covestro AG, Toray Industries Inc., Teijin Ltd., Exxon Mobil Corporation, Mitsui And Co. Plastics Ltd., Braskem Sa, LyondellBasell Industries, LG Chem Ltd., E. I. du Pont de Nemours and Company, INEOS Group Limited, Formosa Plastics Corporation, Total Petrochemicals & Refining USA Inc., Mitsubishi Chemical Corporation, Asahi Kasei Corporation, Mitsui Chemicals Inc., Reliance Industries Limited, Sinopec Corp., China National Chemical Corporation, Nova Chemicals Corporation.

Asia-Pacific was the largest region in the plastic resins market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the plastic resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The plastic resins market involves the sale of plastic resins by entities such as organizations, sole traders, and partnerships. These resins serve as the foundation for manufacturing various types of plastic products, undergoing different processes to meet specific requirements. Industries, particularly in electrical and automotive sectors, extensively use plastic resins for packaging and manufacturing diverse components.

The primary products within the plastic resin market include crystalline, non-crystalline, engineering plastic, and super engineering plastic. Engineering plastics form a category that distinguishes itself from commodity plastics due to significantly enhanced mechanical properties across a wide range of temperatures, loads, and time. Various resin types, such as polyethylene, polyvinyl chloride, acrylonitrile butadiene styrene, polycarbonate, polystyrene, polymethyl methacrylate, and polybutylene terephthalate, find applications in diverse sectors like packaging, automotive, construction, electrical and electronics, logistics, textiles and clothing, furniture and bedding, and medical devices.

The plastic resins market research report is one of a series of new reports that provides plastic resins market statistics, including plastic resins industry global market size, regional shares, competitors with a plastic resins market share, detailed plastic resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic resins industry. These plastic resins 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.

The plastic resins market consists of sales of xxx. 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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