Plastics Market - Forecast(2023 - 2028)

Report Code: CMR 53040 Report Format: PDF + Excel

Plastics Market Overview:

According to the International Trade Centre (ITC), the trade value of plastics and its products was $655.79 billion in 2018, after registering an annual growth of 9% over 2017. The increasing trade of plastics can be attributed to a myriad of applications in the residential, textile, packaging, building & construction, and other sectors. This resonates with the growing plastic market size that was gauged to be $516 billion in 2018. Owing to these varied applications, the demand for plastics is estimated to grow at a CAGR of 4% during the forecast period 2019-2025.

APAC had the greatest plastics market share of 45% in 2018, which is attributed to increasing trade of plastics in countries such as China and India. Moreover, the end user industries of plastics such as automotive and electronics are booming in APAC, which has created demand for plastics in the region.

According to the PlastIndia Foundation, India has 15,788 KTA production capacity of thermoplastics alone. Similarly, engineering plastics, polyolefinpolystyrene, and polyurethane have a major marketplace in India.

According to the Indian Brand Equity Foundation (IBEF),  China and Bangladesh imported $553.42m and $168.33m worth of plastic products from India between April to October 2018. This indicates the lucrative prospects in the APAC plastics market.  Even though the Indonesian plastic industry witnessed a decline due to the overwhelming problem of plastic wastes in the country, other countries such as Malaysia, Japan, and the Philippines contributed to the APAC plastics market share in 2018.

Plastics Market Outlook:

Plastics such as polyethylene terephthalate (PETE or PET), high-density polyethylene (HDPE), polyvinyl chloride (PVC), and low-density polyethylene (LDPE) are used to make products through plastic injection molding of plastic resin. There is a variety of plastics which include elastomers, epoxy resins, fluoropolymers, and bio-plastics, that are used in a gamut of industries.

Key application which offers lucrative opportunities in the plastic market is packaging, and the use of plastics in packaging is poised to grow at a CAGR of 3.35% through to 2025. This is majorly attributed to rise in demand from the flexible packaging market segment of the packaging industry. According to the Flexible Packaging Industry (FPI), the flexible packaging market was worth $30.9 billion in 2017, and is the fastest growing segment of the global packaging industry. Furthermore, sales of drinking water bottles and soft-drinks are increasing, which is further driving the plastics market.

Plastics Market Growth Drivers:

· The Growth Prospects In the Consumer Electronics Sector –

According to the Global System for Mobile Communication (GSMA), the number of mobile users will increase from 5.1 billion in 2018 to 5.8 billion in 2025, at a CAGR of 1.9%. Subsequently, there will an increase in demand for plastics for use in mobile phones during the forecast period. Similarly, consumer electronic products such as washing machines, smart TV, and others are made of plastics. Growing usage of plastics in the consumer electronics industry is creating a demand influx in the plastics market.

· The Automotive Industry: A Major Plastics Marketplace –

According to the International Organization of Motor Vehicles Manufacturers, 95.63 million vehicles were manufactured in 2018. Many parts of vehicles are made of plastics such as polypropylene, polyvinyl chloride (PVC), acrylonitrile-butadiene-styrene (ABS), and polycarbonate. Owing to increase in the disposable income of people, people are now able to afford cars, leading to an increase in sales of cars worldwide. Furthermore, there will be enhanced production of vehicles in the future with the advent of electric vehicles, semi-autonomous and autonomous vehicles, and self-driving trucks. The plastics market is poised to generate demand from the automotive industry as the increase in production of vehicles will augment application of plastics in the sector.

Plastics Market Trends –

  • Demand for Reinforced Plastics Will Rise – The automobile industry will be using reinforced plastics as they are robust and resistive to deformation. Reinforced plastics are also gaining grounds in the construction, medical, military, and marine industries.
  • In August 2018, LyodellBasell acquired A. Schulman, Inc. The acquisition is expected to help the company leverage demand for plastics from the automotive, construction, electronic goods, and packaging industries. 

Plastics Market Key Players Perspective –

The major players in the plastics market are Evonik Industries AG, BASF SE, Saudi Basic Industries Corporation (SABIC), DowDuPont Inc., Arkema SA, Celanese Corporation, Lotte Chemical Titan Holding Sdn Bhd, Lyondellbasell Industries N.V., Solvay S.A., Nan Yap Plastics, and Toray Industries, Inc.

Plastics Market Research Scope:

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the plastics market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The plastics market research report also analyses the application of plastics in various sectors such as residential, textile, packaging, building & construction, and others.

Plastics Market Report: Industry Coverage

The plastics market report identified the current trends, opportunities, and challenges in the industry along with a detailed depiction of strategies by the existing market players.

The report also provides facts, figures, and statistics about different types of plastics and their use in various industries.

The report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia
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1. Plastics Market - Overview
        1.1 Definitions and Scope
2. Plastics Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Plastics Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Plastics Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Plastics Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Plastics Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Plastics Market - Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Plastics Market - By Type (Market Size -$Million / $Billion)
        8.1 Engineering Plastics
        8.2 Polyethylene Terephthalate
        8.3 Polyolefins
        8.4 Polystyrene
        8.5 Polyurethane
        8.6 Polyvinyl Chloride
        8.7 Elastomers
        8.8 Epoxy Resin
        8.9 Expanded Polystyrene
        8.10 Fluoropolymers
        8.11 Bioplastics
        8.12 Thermosetting Plastics
        8.13 Thermoplastics
9. Plastics Market - By Technology (Market Size -$Million / $Billion)
        9.1 Injection Molding
        9.2 Extrusion Molding
        9.3 Blow Molding
        9.4 Others
10. Plastics - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Packaging
            10.3.2 Building & Construction
            10.3.3 Automotive & Transportation
            10.3.4 Electrical & Electronics
            10.3.5 Furniture & Bedding
            10.3.6 Household
            10.3.7 Films & Sheets
            10.3.8 Pipes & Fittings
            10.3.9 Tarpaulin
            10.3.10 Other Industries
11. Plastics - By Geography (Market Size -$Million / $Billion)
        11.1 Plastics Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
         Rest of North America
        11.3 Plastics- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
         Costa Rica
         Rest of South America
        11.5 Plastics- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
         Rest of Europe
        11.7 Plastics - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
         South Korea
         Hong kong
         Rest of APAC
        11.9 Plastics - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
         Saudi Arabia
            11.10.6 Africa Segment Analysis
         South Africa
         Rest of Middle East & Africa
12. Plastics Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Plastics Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Plastics Market - Key Company List by Country Premium
15. Plastics Market Company Analysis

        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Asahimas Chemical
        15.3 Banshu Plastic
        15.4 Basf Se
        15.5 Lotte Titan Chemical
        15.6 Lyondellbasell
        15.7 Pertamina
        15.8 Polychem Tbk
        15.9 Premier Partner
        15.10 Pt Chandra Asri Petrochemical Tbk
        15.11 Pt Solvay Chemical
        15.12 Pt Standard Toyo Polymer
        15.13 Pt Sulfindo Adiusaha
        15.14 Pt. Nan Ya Indah Plastic Corporation
        15.15 Ptt Chemical Public Company Limited
        15.16 Toray Industries, Inc
        15.17 Trans Pacific Petrochemical Indotama
        15.18 Company 18
        15.19 Company 19 & More
*Financials would be provided on a best efforts basis for private companies
16. Plastics Market - Appendix

        16.1 Abbreviations
        16.2 Sources
17. Plastics Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends