Plastics and Rubber Products Market Report 2026

The plastics and rubber products market size has grown strongly in recent years. It will grow from $1.55 trillion in 2025 to $1.64 trillion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to expansion of automotive manufacturing, growth of construction activities, increasing use of plastics in consumer goods, rising demand for rubber-based industrial components, availability of cost-effective polymer materials.

The plastics and rubber products market size is expected to see strong growth in the next few years. It will grow to $2.11 trillion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing focus on circular plastics economy, rising demand for electric vehicle components, expansion of sustainable packaging solutions, growing investments in advanced polymer processing, increasing regulatory pressure on plastic waste reduction. Major trends in the forecast period include increasing adoption of recyclable plastic materials, rising demand for lightweight rubber components, growing use of advanced polymer blends, expansion of high-performance industrial rubber products, enhanced focus on sustainable material processing.

The growing demand for tires from the automotive industry is driving the expansion of the plastics and rubber products market. A tire is a circular component, typically coated with rubber and often reinforced, that surrounds a wheel’s rim. Rubber is a critical material in automotive tires because of its ability to provide traction, absorb shocks, and support vehicle loads. For example, in February 2023, according to the US Tire Manufacturers Association (USTMA), a US-based trade association representing tire manufacturers, total tire shipments in the United States were projected to reach 334.2 million units in 2023, compared with 332 million units in 2022. As a result, the rising demand for tires from the automotive sector is contributing to the growth of the plastics and rubber products market.

Companies operating in the plastics and rubber products market are increasingly focusing on the development of innovative solutions, such as the E2C DX9660, to improve profitability and performance. E2C DX9660 is an engineered elastomer composite solution that delivers approximately 30% higher abrasion resistance compared to conventional compounds. For instance, in February 2023, Cabot Corporation, a US-based chemical company, introduced the E2C DX9660 product, which is designed to significantly enhance rubber durability through superior abrasion resistance. This launch expanded Cabot’s portfolio of E2C solutions for a wide range of applications, including on-road commercial tires and industrial rubber products.

In January 2025, Pexco LLC, a US-based manufacturing company, acquired Wisconsin Plastic Products Inc. for an undisclosed amount. Through this acquisition, Pexco sought to expand its custom plastic extrusion capabilities and strengthen its presence in the Midwestern United States. Wisconsin Plastic Products Inc. is a US-based manufacturer specializing in custom plastic extrusions and engineered plastic components used in industries such as appliances, commercial refrigeration, lighting, and building products.

Major companies operating in the plastics and rubber products market are Exxon Mobil Corporation, BASF SE, The Dow Chemical Company, SABIC (Saudi Basic Industries Corporation), LyondellBasell Industries N.V., Continental AG, LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Bridgestone Corporation, The Michelin Group, Good Year Tire & Rubber Company, Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, Toray Industries Inc., Braskem S.A., Formosa Plastics Corporation, Lotte Chemical Corporation, Solvay S.A., Amcor Limited, Berry Global Group Inc., DuPont de Nemours Inc., Arkema S.A., Eastman Chemical Company, Avery dennison, Sumitomo Rubber Group, Teijin Limited, Pirelli & C SpA, The Hankook Tire group, Trinseo S.A.

Asia-Pacific was the largest region in the plastics and rubber products market in 2025. North America was the second largest region in the plastics and rubber products market. The regions covered in the plastics and rubber products market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the plastics and rubber products 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 plastics and rubber products market consists of sales of polymer products, elastic products, and flexible products. 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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