Plastic Market Growth & Trends
The global plastic market size is anticipated to reach USD 824.46 billion by 2030, according to a new study by Grand View Research, Inc., growing at a CAGR of 4.0% from 2023 to 2030. Increasing automotive production and subsequent rise in plastics consumption in automotive component fabrication because of regulatory policies pertaining to vehicular weight reduction and fuel efficiency are expected to drive the market over the forecast period. Plastics facilitate fuel saving in automotive applications on account of reduced car weight and density as compared to conventional materials, such as metals or rubber. Since the last decade, there has been a substantial demand for the product as a replacement for metals and ferrous alloys across various industries, such as consumer goods, automotive, and industrial machinery.
The growth of the market criticality lies in various factors, such as the ever-increasing requirement of end-users in terms of product specification and versatility influencing consumption dynamics. Other factors, such as socio-political events, production process, and feedstock availability, also have a significant impact on industry trends. Rapidly developing construction and automobile markets in Asia Pacific are expected to increase the product demand for interiors, exteriors, and under-hood components. Its major applications include under-hood components in the automotive industry, building interiors & exteriors in the construction & infrastructure industries, and various applications in electronics and durables. The outbreak of COVID-19 has fueled product demand in the medical end-use industry.
Companies are focusing on increasing their resources and production capabilities to meet the rising demand. For instance, in April 2023, Plastics Unlimited Inc. completed a 30,000 sq. ft. expansion of its manufacturing facility located in Iowa, U.S. which offers plastic urethane molding, thermoforming, design, part trimming, and tooling. The extrusion application segment is anticipated to progress at a substantial growth rate over the forecast period. It is widely used to produce straws, hoses, pipes, and window frames. Increasing demand for these products from the packaging and construction industries is anticipated to create lucrative growth opportunities for the extrusion application segment during the forecast period.
Plastic Market Report Highlights
- The global market was valued at USD 609.01 billion in 2022 and is estimated to grow at a CAGR of 4.0% from 2023 to 2030
- Globally, polyether ether ketone is expected to witness a CAGR of 7.2%, in terms of revenue, during the forecast period
- Increasing demand from medical applications, such as housing, valves, switches, guide components, sleeves, adapters, reducers, cylinders, and ventilators, is anticipated to positively impact the segment growth during the forecast period
- Over the past few years, various strategic initiatives were recorded by key companies to boost their industry position
- For instance, in April 2023, Charter Next Generation announced an expansion with an investment of USD 270 million in a plastic film factory located in Milton, Wisconsin, U.S.
Table of Contents
Chapter 1 Methodology And Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definitions
- 1.3 Information Procurement
- 1.3.1 Information Analysis
- 1.3.2 Market Formulation & Data Visualization
- 1.3.3 Data Validation & Publishing
- 1.4 Research Scope And Assumptions
- 1.4.1 List Of Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot 2022
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Plastic Market: Variables And Trends
- 3.1 Market Lineage Outlook
- 3.1.1 Global Plastic Market Outlook
- 3.2 Penetration & Growth Prospect Mapping
- 3.3 Price Trend Analysis, 2019 - 2030 USD/Kg
- 3.3.1 Polyethylene (PE)
- 3.3.2 Polypropylene (PP)
- 3.3.3 Polyurethane (PU)
- 3.3.4 Polyvinyl Chloride (PVC)
- 3.3.5 Polyethylene Terephthalate (PET)
- 3.3.6 Polystyrene (PS)
- 3.3.7 Acrylonitrile Butadiene Styrene (ABS)
- 3.3.8 Polybutylene Terephthalate (PBT)
- 3.3.9 Polyphenylene Oxide (PPO)
- 3.3.10 Epoxy Polymers
- 3.3.11 Liquid Crystal Polymers
- 3.3.12 Polyether Ether Ketone (PEEK)
- 3.3.13 Polycarbonate (PC)
- 3.3.14 Polyamide (PA)
- 3.3.15 Polysulfone (PSU)
- 3.3.16 Polyphenylsulfone (PPSU)
- 3.4 Plastic Market: Value Chain Analysis
- 3.4.1 Raw Material Trends
- 3.4.2 Value Addition Stages
- 3.4.3 Manufacturing Trends
- 3.5 Technology Overview
- 3.5.1 Technology Timeline
- 3.6 Regulatory Framework
- 3.6.1 Product Classification Codes
- 3.6.2 Standard & Compliances
- 3.6.3 Safety
- 3.6.3.1 Polyethylene (PE)
- 3.6.3.2 Polypropylene (PP)
- 3.6.3.3 Acrylonitrile Butadiene Styrene (ABS)
- 3.6.3.4 Polyvinyl Chloride
- 3.7 Market Dynamics
- 3.7.1 Market Driver Impact Analysis
- 3.7.1.1 Growth Of Key End-Use Industries
- 3.7.1.2 Shift In The Trend Toward Replacement Of Glass & Metals
- 3.7.2 Market Restraint Impact Analysis
- 3.7.2.1 Stringent Rules & Regulations
- 3.7.3 Industry Challenges
- 3.7.3.1 Volatile Raw Material Prices
- 3.8 Industry Analysis Tools
- 3.9 Macroeconomic Analysis
- 3.9.1.1 Gross Domestic Product, By Countries
- 3.9.1.2 Per Capita Consumption Of Plastics By Country, 2022 (In Kg)
- 3.10 Impact Of Covid-19 On The Global Plastics Market
- 3.11 Eastern European Geopolitical Implication Overview
- 3.12 Uncertainty Surrounding Economic Recession
Chapter 4 Plastic Market: Product Estimates & Trend Analysis
- 4.1 Product Movement Analysis & Market Share, 2022 & 2030
- 4.2 Product Movement Analysis & Market Share, 2022 & 2030
- 4.3 Plastic Market Estimates & Forecast, By Product (Kilotons) (USD Million)
- 4.3.1 Polyethylene (PE)
- 4.3.2 Polypropylene (PP)
- 4.3.3 Polyurethane (PU)
- 4.3.4 Polyvinyl Chloride (PVC)
- 4.3.5 Polyethylene Terephthalate (PET)
- 4.3.6 Polystyrene (PS)
- 4.3.7 Acrylonitrile Butadiene Styrene (ABS)
- 4.3.8 Polybutylene Terephthalate (PBT)
- 4.3.9 Polyphenylene Oxide (PPO)
- 4.3.10 Epoxy Polymers
- 4.3.11 Liquid Crystal Polymers
- 4.3.12 Polyether Ether Ketone (PEEK)
- 4.3.13 Polycarbonate (PC)
- 4.3.14 Polyamide (PA)
- 4.3.15 Polysulfone (PSU)
- 4.3.16 Polyphenylsulfone (PPSU)
- 4.3.17 Others
Chapter 5 Plastic Market: End-Use Estimates & Trend Analysis
- 5.1 End-Use Movement Analysis & Market Share, 2022 & 2030
- 5.2 End-Use Movement Analysis & Market Share, 2022 & 2030
- 5.3 Plastic Market Estimates & Forecast, By End-Use (Kilotons) (USD Million)
- 5.3.1 Packaging
- 5.3.2 Construction
- 5.3.3 Electricals & Electronics
- 5.3.4 Automotive
- 5.3.5 Medical Devices
- 5.3.6 Agriculture
- 5.3.7 Furniture & Bedding
- 5.3.8 Consumer Goods
- 5.3.9 Utility
- 5.3.10 Others
Chapter 6 Plastic Market: Application Estimates & Trend Analysis
- 6.1 Application Movement Analysis & Market Share, 2022 & 2030
- 6.2 Application Movement Analysis & Market Share, 2022 & 2030
- 6.3 Plastic Market Estimates & Forecast, By Application (Kilotons) (USD Million)
- 6.3.1 Injection Molding
- 6.3.2 Blow Molding
- 6.3.3 Roto Molding
- 6.3.4 Compression Molding
- 6.3.5 Casting
- 6.3.6 Thermoforming
- 6.3.7 Extrusion
- 6.3.8 Calendering
- 6.3.9 Others
Chapter 7 Plastic Market: Regional Estimates & Trend Analysis
- 7.1 Plastic Market: Regional Outlook
- 7.2 North America
- 7.2.1 North America Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.2.2 U.S.
- 7.2.2.1 U.S. Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.2.3 Canada
- 7.2.3.1 Canada Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.2.4 Mexico
- 7.2.4.1 Mexico Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3 Europe
- 7.3.1 Europe Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.2 Germany
- 7.3.2.1 Germany Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.3 Uk
- 7.3.3.1 Uk Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.4 Italy
- 7.3.4.1 Italy Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.5 France
- 7.3.5.1 France Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.6 Poland
- 7.3.6.1 Poland Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.3.7 Spain
- 7.3.7.1 Spain Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.4 China
- 7.4.1 China Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.5 Asia Pacific
- 7.5.1 Asia Pacific Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.5.2 India
- 7.5.2.1 India Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.5.3 Japan
- 7.5.3.1 Japan Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.5.4 Southeast Asia
- 7.5.4.1 Southeast Asia Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6 Central & South America
- 7.6.1 Central & South America Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6.2 Brazil
- 7.6.2.1 Brazil Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6.3 Argentina
- 7.6.3.1 Argentina Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6.4 Chile
- 7.6.4.1 Chile Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6.5 Colombia
- 7.6.5.1 Colombia Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.6.6 Other Csa (Costa Rica, Cuba, Peru)
- 7.6.6.1 Other Csa (Costa Rica, Cuba, Peru) Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7 Middle East & Africa
- 7.7.1 Middle East & Africa Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7.2 Saudi Arabia
- 7.7.2.1 Saudi Arabia Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7.3 United Arab Emirates (U.A.E.)
- 7.7.3.1 United Arab Emirates (U.A.E.) Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7.4 Oman
- 7.7.4.1 Oman Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7.5 Kenya
- 7.7.5.1 Kenya Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
- 7.7.6 South Africa
- 7.7.6.1 South Africa Plastic Market Estimates & Forecasts, 2019 - 2030, (Kilotons) (USD Million)
Chapter 8 Plastic Market - Competitive Landscape
- 8.1 Recent Developments & Impact Analysis, By Key Market Participants
- 8.2 Company Categorization
- 8.3 Participant's Overview
- 8.4 Financial Performance
- 8.5 Product Benchmarking
- 8.7 Company Heat Map Analysis
- 8.8 Strategy Mapping
- 8.8.1 Expansion
- 8.8.2 Mergers & Acquisition
- 8.8.3 Collaboration
- 8.8.4 New Product Launches
- 8.8.5 Research & Development
Chapter 9 Global Plastic Market: Product By End-Use Estimates & Trend Analysis
- 9.1 Plastic Market Estimates & Forecast, By Product By End-Use (Kilotons) (USD Million)
- 9.1.1. Polyethylene (PE)
- 9.1.1.1. Packaging
- 9.1.1.2. Construction
- 9.1.1.3. Electrical & Electronics
- 9.1.1.4. Automotive
- 9.1.1.5. Medical Devices
- 9.1.1.6. Agriculture
- 9.1.1.7. Furniture & Bedding
- 9.1.1.8. Consumer Goods
- 9.1.1.9. Utility
- 9.1.1.10. Others
- 9.1.2. Polypropylene (PP)
- 9.1.2.1. Packaging
- 9.1.2.2. Construction
- 9.1.2.3. Electrical & Electronics
- 9.1.2.4. Automotive
- 9.1.2.5. Medical Devices
- 9.1.2.6. Agriculture
- 9.1.2.7. Furniture & Bedding
- 9.1.2.8. Consumer Goods
- 9.1.2.9. Utility
- 9.1.2.10. Others
- 9.1.3. Polyurethane (PU)
- 9.1.3.1. Packaging
- 9.1.3.2. Construction
- 9.1.3.3. Electrical & Electronics
- 9.1.3.4. Automotive
- 9.1.3.5. Medical Devices
- 9.1.3.6. Agriculture
- 9.1.3.7. Furniture & Bedding
- 9.1.3.8. Consumer Goods
- 9.1.3.9. Utility
- 9.1.3.10. Others
- 9.1.4. Polyvinyl Chloride (PVC)
- 9.1.4.1. Packaging
- 9.1.4.2. Construction
- 9.1.4.3. Electrical & Electronics
- 9.1.4.4. Automotive
- 9.1.4.5. Medical Devices
- 9.1.4.6. Agriculture
- 9.1.4.7. Furniture & Bedding
- 9.1.4.8. Consumer Goods
- 9.1.4.9. Utility
- 9.1.4.10. Others
- 9.1.5. Polyethylene Terephthalate (PET)
- 9.1.5.1. Packaging
- 9.1.5.2. Construction
- 9.1.5.3. Electrical & Electronics
- 9.1.5.4. Automotive
- 9.1.5.5. Medical Devices
- 9.1.5.6. Agriculture
- 9.1.5.7. Furniture & Bedding
- 9.1.5.8. Consumer Goods
- 9.1.5.9. Utility
- 9.1.5.10. Others
- 9.1.6. Polystyrene (PS)
- 9.1.6.1. Packaging
- 9.1.6.2. Construction
- 9.1.6.3. Electrical & Electronics
- 9.1.6.4. Automotive
- 9.1.6.5. Medical Devices
- 9.1.6.6. Agriculture
- 9.1.6.7. Furniture & Bedding
- 9.1.6.8. Consumer Goods
- 9.1.6.9. Utility
- 9.1.6.10. Others
- 9.1.7. Acrylonitrile Butadiene Styrene (ABS)
- 9.1.7.1. Packaging
- 9.1.7.2. Construction
- 9.1.7.3. Electrical & Electronics
- 9.1.7.4. Automotive
- 9.1.7.5. Medical Devices
- 9.1.7.6. Agriculture
- 9.1.7.7. Furniture & Bedding
- 9.1.7.8. Consumer Goods
- 9.1.7.9. Utility
- 9.1.7.10. Others
- 9.1.8. Polybutylene Terephthalate (PBT)
- 9.1.8.1. Packaging
- 9.1.8.2. Construction
- 9.1.8.3. Electrical & Electronics
- 9.1.8.4. Automotive
- 9.1.8.5. Medical Devices
- 9.1.8.6. Agriculture
- 9.1.8.7. Furniture & Bedding
- 9.1.8.8. Consumer Goods
- 9.1.8.9. Utility
- 9.1.8.10. Others
- 9.1.9. Polyphenylene Oxide (PPO)
- 9.1.9.1. Packaging
- 9.1.9.2. Construction
- 9.1.9.3. Electrical & Electronics
- 9.1.9.4. Automotive
- 9.1.9.5. Medical Devices
- 9.1.9.6. Agriculture
- 9.1.9.7. Furniture & Bedding
- 9.1.9.8. Consumer Goods
- 9.1.9.9. Utility
- 9.1.9.10. Others
- 9.1.10. Epoxy Polymers
- 9.1.10.1. Packaging
- 9.1.10.2. Construction
- 9.1.10.3. Electrical & Electronics
- 9.1.10.4. Automotive
- 9.1.10.5. Medical Devices
- 9.1.10.6. Agriculture
- 9.1.10.7. Furniture & Bedding
- 9.1.10.8. Consumer Goods
- 9.1.10.9. Utility
- 9.1.10.10. Others
- 9.1.11. Liquid Crystal Polymers
- 9.1.11.1. Packaging
- 9.1.11.2. Construction
- 9.1.11.3. Electrical & Electronics
- 9.1.11.4. Automotive
- 9.1.11.5. Medical Devices
- 9.1.11.6. Agriculture
- 9.1.11.7. Furniture & Bedding
- 9.1.11.8. Consumer Goods
- 9.1.11.9. Utility
- 9.1.11.10. Others
- 9.1.12. Polyether Ether Ketone (PEEK)
- 9.1.12.1. Packaging
- 9.1.12.2. Construction
- 9.1.12.3. Electrical & Electronics
- 9.1.12.4. Automotive
- 9.1.12.5. Medical Devices
- 9.1.12.6. Agriculture
- 9.1.12.7. Furniture & Bedding
- 9.1.12.8. Consumer Goods
- 9.1.12.9. Utility
- 9.1.12.10. Others
- 9.1.13. Polycarbonate (PC)
- 9.1.13.1. Packaging
- 9.1.13.2. Construction
- 9.1.13.3. Electrical & Electronics
- 9.1.13.4. Automotive
- 9.1.13.5. Medical Devices
- 9.1.13.6. Agriculture
- 9.1.13.7. Furniture & Bedding
- 9.1.13.8. Consumer Goods
- 9.1.13.9. Utility
- 9.1.13.10. Others
- 9.1.14. Polyamide (PA)
- 9.1.14.1. Packaging
- 9.1.14.2. Construction
- 9.1.14.3. Electrical & Electronics
- 9.1.14.4. Automotive
- 9.1.14.5. Medical Devices
- 9.1.14.6. Agriculture
- 9.1.14.7. Furniture & Bedding
- 9.1.14.8. Consumer Goods
- 9.1.14.9. Utility
- 9.1.14.10. Others
- 9.1.15. Polysulfone (PSU)
- 9.1.15.1. Packaging
- 9.1.15.2. Construction
- 9.1.15.3. Electrical & Electronics
- 9.1.15.4. Automotive
- 9.1.15.5. Medical Devices
- 9.1.15.6. Agriculture
- 9.1.15.7. Furniture & Bedding
- 9.1.15.8. Consumer Goods
- 9.1.15.9. Utility
- 9.1.15.10. Others
- 9.1.16. Polyphenylsulfone (PPSU)
- 9.1.16.1. Packaging
- 9.1.16.2. Construction
- 9.1.16.3. Electrical & Electronics
- 9.1.16.4. Automotive
- 9.1.16.5. Medical Devices
- 9.1.16.6. Agriculture
- 9.1.16.7. Furniture & Bedding
- 9.1.16.8. Consumer Goods
- 9.1.16.9. Utility
- 9.1.16.10. Others