This report describes and explains the plastics and rubber products market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global plastics and rubber products market reached a value of nearly $1.5 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 5.66% since 2019. The market is expected to grow from $1.5 trillion in 2024 to $2.08 trillion in 2029 at a rate of 6.71%. The market is then expected to grow at a CAGR of 5.95% from 2029 and reach $2.78 trillion in 2034.
Growth in the historic period resulted from the economic growth in emerging markets, increased applications in aerospace and growing packaging industry. Factors that negatively affected growth in the historic period were labor issues.
Going forward, the rising demand in the automotive industry, increasing urbanization, expanding construction and infrastructure development, global shift towards electric vehicles (EVs) and government initiatives will drive the growth. Factor that could hinder the growth of the plastics and rubber products market in the future include regulatory pressures.
The global plastics and rubber products market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.51% of the total market in 2023. BASF SE was the largest competitor with a 0.63% share of the market, followed by Dow Inc with 0.63%, ExxonMobil Corporation with 0.62%, Sumitomo Chemical Co Ltd with 0.49%, LG Chem Ltd with 0.44%, SABIC (Saudi Basic Industries Corporation) with 0.43%, Good Year Tire & Rubber Company with 0.40%, Bridgestone Corporation with 0.33%, Freudenberg Group with 0.29% and 3M Company with 0.24%.
The plastics and rubber products market is segmented by type into rubber products and plastic products. The plastic products market was the largest segment of the plastics and rubber products market segmented by type, accounting for 73.46% or $1.1 trillion of the total in 2024. Going forward, the plastic products segment is expected to be the fastest growing segment in the plastics and rubber products market segmented by type, at a CAGR of 6.84% during 2024-2029.
The plastics and rubber products market is segmented by end-user industry into automotive and transportation, electrical and electronics, packaging, construction and other end-users. The automotive and transportation market was the largest segment of the plastics and rubber products market segmented by end-user industry, accounting for 28.92% or $436.31 billion of the total in 2024. Going forward, the automotive and transportation segment is expected to be the fastest growing segment in the plastics and rubber products market segmented by end-user industry, at a CAGR of 7.80% during 2024-2029.
Asia Pacific was the largest region in the plastics and rubber products market, accounting for 36.33% or $548.07 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the plastics and rubber products market will be Middle East and Africa where growth will be at CAGRs of 14.14% and 13.22% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 7.50% and 6.87% respectively.
The top opportunities in the plastics and rubber products market segmented by type will arise in the plastic products segment, which will gain $427.79 billion of global annual sales by 2029. The top opportunities in the plastics and rubber products market segmented by end-user industry will arise in the automotive and transportation segment, which will gain $192.02 billion of global annual sales by 2029. The plastics and rubber products market size will gain the most in the USA at $90.42 billion.
Market-trend-based strategies for the plastics and rubber products market include focus on development of bio-based plastics for sustainable and environmentally friendly alternatives, focus on advancements in engineered elastomer composites for enhanced performance and focus on strategic partnerships and collaborations among market players.
Player-adopted strategies in the plastics and rubber products market include focus on product launches to support film producers and converters globally and focuses on strategic partnerships to transform plastic waste into circular products producing high-performance resins.
To take advantage of the opportunities, the analyst recommends the plastics and rubber products companies to focus on developing innovative bio-based plastic derivatives, focus on developing engineered elastomer composites, focus on plastic products for industry leadership, expand in emerging markets, focus on strategic partnerships for sustainable solutions, provide competitively priced offerings, continue to use B2B promotions and focus on developing targeted strategies for high-growth end-users.
The global plastics and rubber products market reached a value of nearly $1.5 trillion in 2024, having grown at a compound annual growth rate (CAGR) of 5.66% since 2019. The market is expected to grow from $1.5 trillion in 2024 to $2.08 trillion in 2029 at a rate of 6.71%. The market is then expected to grow at a CAGR of 5.95% from 2029 and reach $2.78 trillion in 2034.
Growth in the historic period resulted from the economic growth in emerging markets, increased applications in aerospace and growing packaging industry. Factors that negatively affected growth in the historic period were labor issues.
Going forward, the rising demand in the automotive industry, increasing urbanization, expanding construction and infrastructure development, global shift towards electric vehicles (EVs) and government initiatives will drive the growth. Factor that could hinder the growth of the plastics and rubber products market in the future include regulatory pressures.
The global plastics and rubber products market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.51% of the total market in 2023. BASF SE was the largest competitor with a 0.63% share of the market, followed by Dow Inc with 0.63%, ExxonMobil Corporation with 0.62%, Sumitomo Chemical Co Ltd with 0.49%, LG Chem Ltd with 0.44%, SABIC (Saudi Basic Industries Corporation) with 0.43%, Good Year Tire & Rubber Company with 0.40%, Bridgestone Corporation with 0.33%, Freudenberg Group with 0.29% and 3M Company with 0.24%.
The plastics and rubber products market is segmented by type into rubber products and plastic products. The plastic products market was the largest segment of the plastics and rubber products market segmented by type, accounting for 73.46% or $1.1 trillion of the total in 2024. Going forward, the plastic products segment is expected to be the fastest growing segment in the plastics and rubber products market segmented by type, at a CAGR of 6.84% during 2024-2029.
The plastics and rubber products market is segmented by end-user industry into automotive and transportation, electrical and electronics, packaging, construction and other end-users. The automotive and transportation market was the largest segment of the plastics and rubber products market segmented by end-user industry, accounting for 28.92% or $436.31 billion of the total in 2024. Going forward, the automotive and transportation segment is expected to be the fastest growing segment in the plastics and rubber products market segmented by end-user industry, at a CAGR of 7.80% during 2024-2029.
Asia Pacific was the largest region in the plastics and rubber products market, accounting for 36.33% or $548.07 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the plastics and rubber products market will be Middle East and Africa where growth will be at CAGRs of 14.14% and 13.22% respectively. These will be followed by South America and Western Europe where the markets are expected to grow at CAGRs of 7.50% and 6.87% respectively.
The top opportunities in the plastics and rubber products market segmented by type will arise in the plastic products segment, which will gain $427.79 billion of global annual sales by 2029. The top opportunities in the plastics and rubber products market segmented by end-user industry will arise in the automotive and transportation segment, which will gain $192.02 billion of global annual sales by 2029. The plastics and rubber products market size will gain the most in the USA at $90.42 billion.
Market-trend-based strategies for the plastics and rubber products market include focus on development of bio-based plastics for sustainable and environmentally friendly alternatives, focus on advancements in engineered elastomer composites for enhanced performance and focus on strategic partnerships and collaborations among market players.
Player-adopted strategies in the plastics and rubber products market include focus on product launches to support film producers and converters globally and focuses on strategic partnerships to transform plastic waste into circular products producing high-performance resins.
To take advantage of the opportunities, the analyst recommends the plastics and rubber products companies to focus on developing innovative bio-based plastic derivatives, focus on developing engineered elastomer composites, focus on plastic products for industry leadership, expand in emerging markets, focus on strategic partnerships for sustainable solutions, provide competitively priced offerings, continue to use B2B promotions and focus on developing targeted strategies for high-growth end-users.
Major Market Trends
- Development of Bio-Based Plastics for Sustainable and Environmentally Friendly Alternatives
- Advancements in Engineered Elastomer Composites for Enhanced Performance
- Strategic Partnerships and Collaborations Among Market Players
Key Mergers and Acquisitions
- Longxing Chemical Acquired China National Rubber
- Mutares Acquired CIKAUTXO Rubber and Plastic Components
- Azelis Acquired DBH Osthandelsgesellschaft
- Valgroup Acquired Mirvi Brasil
- Irelli Acquired Hevea-Tec
- Trelleborg Acquired Minnesota Rubber and Plastics
- Hexpol Acquired Almaak International
- Minnesota Rubber Acquired Primasil Silicones
Table of Contents
1 Executive Summary
6 Market Characteristics
9 Plastics and Rubber Products Market Customer Information
10 Major Market Trends
11 Plastics and Rubber Products Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Global Plastics and Rubber Products Market Segmentation
14 Plastics and Rubber Products Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 South America Market
20 Middle East Market
21 Africa Market
22 Competitive Landscape and Company Profiles
23 Other Major and Innovative Companies
26 Key Mergers and Acquisitions
27 Opportunities and Strategies
28 Plastics and Rubber Products Market, Conclusions and Recommendations
29 Appendix
Executive Summary
Plastics and Rubber Products Global Market Opportunities and Strategies to 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global plastics and rubber products market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for plastics and rubber products? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The plastics and rubber products market global report answers all these questions and many more.The 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 history and forecasts market growth by geography. It places the market within the context of the wider plastics and rubber products market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type and by end-user industry.
- Product Analysis - the product analysis section of the report describes the leading products in the metal products market, along with key features and differentiators for those products.
- Supply Chain - the supply chain section of the report defines and explains the key players in the plastics and rubber products industry supply chain.
- Customer Information - the chapter covers recent customer trends/preferences in the global plastics and rubber products market.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - the report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the plastics and rubber products market.
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type and by end-user industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major and Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for plastics and rubber products providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) by Type: Rubber Products; Plastic Products2) by End-User Industry: Automotive and Transportation; Electrical and Electronics; Packaging; Construction; Other End-Users
Key Companies Mentioned: BASF SE; Dow Inc; ExxonMobil Corporation; Sumitomo Chemical Co Ltd; LG Chem Ltd
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; plastics and rubber products indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
Some of the major companies featured in this Plastics and Rubber Products market report include:- BASF SE
- Dow Inc
- ExxonMobil Corporation
- Sumitomo Chemical Co Ltd
- LG Chem Ltd
- SABIC (Saudi Basic Industries Corporation)
- Good Year Tire & Rubber Company
- Bridgestone Corporation
- Freudenberg Group
- 3M Company
- Toray Industries Inc
- Longxing Chemical
- China National Rubber Corporation
- CIKAUTXO Rubber & Plastic Components (Kunshan) Co Ltd
- Formosa Plastics Group
- Asahi Kasei Corporation
- China National Petroleum Corporation (CNPC)
- Sinopec Limited
- Longxing Chemical
- China National Chemical Corporation (ChemChina)
- Zhejiang Materials Industry Group Co Ltd
- Haohua Chemical Group
- Continental AG
- Michelin Group
- Pirelli & C SpA
- Matco Plastics
- Primasil Silicones Ltd
- Minnesota Rubber and Plastics (MRP)
- Almaak International GmbH
- Hexpol AB
- Freudenberg Group
- Trelleborg
- Borealis AG
- Coca-Cola Hellenic Bottling Company
- MOL Petrochemicals Plc
- Grupa Azoty SA
- PKN Orlen SA
- SIBUR
- Cabot Corporation
- Minnesota Rubber & Plastics
- The Goodyear Tire & Rubber Company
- Stelray Plastic Products Inc
- Braskem
- Arlanxeo
- Valgroup
- Mirvi Brasil
- Pirelli & C. SpA
- Hevea-Tec
- Dana Group
- Zamil Plastic Industries Co
- Universal Rubber Belt Manufacturing
- Gulf Rubber Industries LLC
- Aalmir Plastic Industries
- Nile Plastics and Chemicals Co
- Safrique International
- Green Tech Plastics Machinery
- General Plastics Ltd
- Bidco Africa
- Eagle Rubber Products
