Plastic Resins Market Overview
The market for plastic resins is anticipated to grow at a compound annual growth rate (CAGR) of 4.40% to reach US$ 594.54 billion by 2030.
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Plastic Resins Market Scope and Methodology:
The report describes the competitive landscape, identifies key competitors and their market positions, and provides an in-depth overview of the Plastic Resins industry. It also covers new product developments and technological trends in the market. Detailed data on revenue, sales volume, and average prices are provided for the entire Plastic Resins market and its sub-segments benefiting companies, new entrants, and industry-related companies in the Plastic Resins market. Plastic Resins Market analysis identifies current market trends that affect growth and potential.
The report includes both qualitative and quantitative research, with a focus on data interpretation, pattern recognition, and deep understanding. Market segments and sectors are studied using a hierarchical approach that examines the strategies of Plastic Resins industry-leading companies. The report also includes information on import/export activities, market dynamics, values, costs, revenue and gross margins.
Plastic Resins Market Regional Insights
In a regional analysis, the Plastic Resins market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Regions are categorized into countries such as the United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, China, India, Japan, Australia and South Korea.
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Plastic Resins Market Segmentation
by Product
1. Crystalline
2. Non-crystalline
3. Engineering Plastic
4. Super Engineering Plastic
With a revenue share of over 61% in 2023, the crystalline resins product segment led the market, and this dominance is anticipated to persist for the duration of the forecast. The Polyethylene (PE) resin subsegment held a substantial portion of the crystalline type segment due to the growing demand from food packaging, stretch wrap, medical applications, and other uses. About a fifth of overall sales in 2023 came from the non-crystalline resin category. The demand for these products is anticipated to decline over the course of the projection period, though, as a result of the growing use of substitute polymers such liquid crystal polymers, polyamide, and polyether ketone.
by Application
1. Packaging
2. Automotive
3. Construction
4. Electrical & Electronics
5. Logistics
6. Consumer Goods
7. Textiles & Clothing
8. Agriculture
9. Medical Devices
By 2023, the packaging segment accounted for over 36% of its revenue share, and it is anticipated to grow at a steady CAGR throughout the duration of the forecast. Because of the growing need for packaged foods and beverages, the packaging industry is driving growth in the segment. Furthermore, in order to promote the expansion of the food and beverage application market, certain government agencies have established strict guidelines for the safe use of plastic materials.
Plastic Resins Market Key Players
1. BASF SE
2. SABIC
3. Dow, Inc.
4. Evonik Industries A
5. Sumitomo Chemical
6. Arkema
7. Celanese Corp.
8. Eastman Chemical Company
9. Chevron Phillips Chemical Co., LLC
10. Lotte Chemical Corp.
11. Covestro AG
12. Toray Industries, In
13. Teijin Ltd
14. Toray Industries, Inc.
15. DuPont
16. Formosa Plastic Group
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Key questions answered in the Plastic Resins Market are:
- What is Plastic Resins ?
- What was the Plastic Resins market size in 2023?
- What is the growth rate of the Plastic Resins Market?
- Which is the fastest-growing region in the Plastic Resins market?
- Which are the factors expected to drive the Plastic Resins market growth?
- What is the CAGR at which the Plastic Resins market will grow during the forecast period?
- What growth strategies are the players considering to increase their presence in Plastic Resins ?
- What are the upcoming opportunities and trends for the Plastic Resins Market?
- What are the different segments of the Plastic Resins Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Plastic Resins Market?
- What segments are covered in the Plastic Resins Market?
- Who are the key players in the Plastic Resins market?
- Who are the leading companies and what are their portfolios in Plastic Resins Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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