How Is The Plastic Material And Resins Market Segmented?
The plastic material and resins market covered in this report is segmented –
1) By Type: Polypropylene-Plastic Material and Resins, High-Density Polyethylene, poly-vinyl chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material and Resins, Other Plastic Material and Resins
2) By Application: Packaging, Housewares, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications
3) By End Userr Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries
Subsegments:
1) By Polypropylene (PP)- Plastic Material And Resins: Homopolymer Polypropylene, Copolymer Polypropylene
2) By High-Density Polyethylene (HDPE): HDPE Films, HDPE Bottles And Containers
3) By Poly-Vinyl Chloride (PVC): Rigid PVC, Flexible PVC
4) By Polyethylene Terephthalate (PET): PET Bottles, PET Films
5) By Polyurethane (PU): Flexible Polyurethane Foam, Rigid Polyurethane Foam
6) By Low-Density Polyethylene (LDPE): LDPE Films, LDPE Bottles
7) By Polystyrene (PS)- Plastic Material and Resins: General Purpose Polystyrene (GPPS), High Impact Polystyrene (HIPS)
8) By Other Plastic Material and Resins: Acrylonitrile Butadiene Styrene (ABS), Polycarbonate (PC), Thermoplastic Elastomers (TPE)
What Is Driving The Plastic Material And Resins Market? Increase The Consumption Of Plastics Fueling The Surge In Plastic Material And Resins Market Growth
New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches, and smaller pack sizes for single-servings, are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty. Similarly, the recent development of biodegradable plastics, which degrade naturally from the actions of microorganisms such as bacteria, algae, and fungi, is gaining traction. These developments in packaging will increase the consumption of plastics, which will drive the market's growth.
What Is Driving The Plastic Material And Resins Market? Increasing Demand For Electric Vehicles (EVS) Fuels Growth In The Plastic Material And Resin Market
The increase in demand for electric vehicles (EVs) is expected to propel the growth of the plastic material and resin market going forward. Electric vehicles (EVs) refer to a vehicle that can be propelled by an electric motor that draws power from a battery and can be charged externally. The growing demand for electric vehicles (EVs) has surged the need for lightweight and durable plastic materials and resins in automotive components, including battery enclosures, interior components, and lightweight structural parts, thus driving the plastic material and resin market within the automotive sector. For instance, in January 2024, according to the International Council on Clean Transportation, a US-based non-profit organization, since the third quarter of 2021, quarterly electric vehicle (EV) sales have consistently risen, with their share of total light-duty vehicle sales climbing from approximately 3% in the first quarter of 2021 to over 10% by the third quarter of 2023. The next-greatest number was in Florida, followed by Texas. Therefore, the increase in demand for electric vehicles (EVs) is driving the growth of the plastic material and resin market.
Who Are The Major Players In The Global Plastic Material And Resins Market?
Major companies operating in the plastic material and resins market include LyondellBasell Industries Holdings BV, Total SE, Ineos AG, Lotte Chemical Corporation, BASF SE, Covestro AG, Formosa Plastics Corp., Huntsman International LLC, Westlake Chemical Corp, Dow, Nolato, Sintex Industries Ltd (India), Abu Dhabi National Oil Company (Adnoc), Zamil Plastic Industries Ltd, Sealed Air Corp., Silgan Holdings Inc., Northern Vinyl Supplies, Australian Vinyls Corporation (Australia), Plastral (Australia), Dagu Chemical Co. Ltd., China Petrochemical Corporation, ENPI Group, SPREA MISR, Sumitomo Chemical Company Limited (China), Yabang Investment Holding Group Co. Ltd., Zhenjiang Chimei Chemical Co. Ltd., Sanmu Group, DuPont, Cosmoplast, Exxon Mobil, Sunstar Engineering Italy S.R.L., Shanghai Huayi (Group), Ncs Resins (Pty) Ltd, Are Plastocure cc, Celanese Corp., Jain Irrigation Systems Ltd (India), Soltex Group, Braskem, Horizon Plastics International, Qatar Petrochemical Company, Kkalpana Industries India Ltd, Chevron Phillips, Formulated Resins Ltd, Flowcrete South Africa, Glezco Plasticos, Plastic OJSC, Rosti Poland Sp., BÜFA Composite Systems, VIP Industries Ltd, Solvay S.A., Graham Packaging Company, China National Petroleum Corporation, GAP Polymers, Black Horse Plastic Products, Sonoco Products Company, Bemis Company, Sichuan Jinlu Group Co. Ltd., LG Chemical, INEOS Group, SA de CV, TCR Plastics, Berry Global Group Inc., Matsui Technologies India Ltd, RESITEC PRODUCTION SA, Osterman's Latin American Polymers, POLYNT SPA, Amcor Plc, Xinghua Xinfeng Plastic Co. Ltd., Johannes H. Andress GMBH & CO. KG, Brovary Plastic Plant, Eastman Chemical Company, Geeta Plastic Products, Advanced Polymer Trading FZC (APT), Arabian Plastic Industrial Company Limited, Saudi Aramco, HEKRO PET, PolyOne Corporation, Reliance Industries Ltd, Borealis Group
What Are The Key Trends Of The Global Plastic Material And Resins Market? Advancements In Smart Polymers And Sustainable Solutions Boost Plastic Material And Resin Market Growth
The search for new characteristics for plastic materials and innovations in the manufacturing process have LED to the development of various high-performance plastics. For example, smart polymers are materials that can change based on external environmental stimuli. A product that is a result of a combination of nanotechnology and plastic engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant, along with resistance to scratches, dents, and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive, and aerospace sectors. For instance, some of the major developments in plastic materials include plastics from potatoes and virgin PET from discarded textile fabric and waste bottles.
What Are The Key Trends Of The Global Plastic Material And Resins Market? Innovative Advances In Eco-Friendly Seaweed Resin Transforming The Plastic Material And Resin Market
Major companies operating in the plastic material and resin markets are focusing on the development of innovative products such as seaweed resin to sustain their position in the market. Seaweed resin refers to a biodegradable and sustainable material derived from seaweed extracts used as an eco-friendly alternative to traditional petroleum-based plastics and resins. For instance, in May 2023, Loliware Inc., a US-based materials science company, launched the newest seaweed resin for injection molding. The ocean-safe seaweed resins are designed to be seamlessly processed using existing plastic manufacturing machinery. This new biomaterial will power the company's first-ever seaweed utensil set and be manufactured on standard plastic injection molding equipment.
Regional Outlook For The Global Plastic Material And Resins Market
Asia-Pacific was the largest region in the plastic material and resins market in 2024. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the plastic material and resins market report are Australia, China, 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, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
What Defines the Plastic Material And Resins Market?
The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. 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.
How is Market Value Defined and Measured?
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.
What is the Market Assessment and Strategic Outlook for the Plastic Material And Resins Industry?
The plastic materials and resins market research report is one of a series of new reports from The Business Research Company that provides plastic materials and resins market statistics, including plastic materials and resins industry global market size, regional shares, competitors with a plastic materials and resins market share, detailed plastic materials and resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic materials and resins industry. This plastic materials and 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.
