Plastics Market - Forecast(2024 - 2030)

Report Code: CMR 53040 Report Format: PDF + Excel

Plastics Market Overview:

The Plastics Market size is estimated to reach $738 billion by 2030, growing at a CAGR of 3.8% during the forecast period 2024-2030. Growing demand for lightweight and durable plastics in various end-use industries and increasing construction and infrastructure activities are further driving the plastics market growth. As per the Federation of Indian Chambers of Commerce and Industry report, over 40% of India's packaging requirements are met by plastic which is further expecting to consume more in various applications.

Additionally, Advancements in plastic processing techniques such as injection molding, blow molding and thermoforming have made it possible to manufacture complex shapes and designs. This leads to increase in the demand for plastic products across various end-use industries. These factors positively influence the Plastics industry outlook during the forecast period. Plastics are no longer just passive materials. Developments in nanotechnology and other fields are leading to the creation of smart plastics with unique properties. This includes using recycled materials, reducing energy consumption in production, and designing products for easy recycling or reuse.

Market Snapshot:

Plastics Market - Report Coverage:

The “Plastics Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Plastics Market.



By Product Type  

  • Polyethylene (PE)

  • Polypropylene (PP)

  • Polyurethane (PU)

  • Polyvinyl chloride (PVC)

  • Acrylonitrile butadiene styrene (ABS)

  • Others

By Process Technology

  • Blow Molding

  • Compression Molding

  • Roto Molding

  • Extrusion Molding

  • Injection Molding

  • Others

By End User

  • Packaging

  • Electrical & Electronics

  • Automotive & Transportation

  • Building & Construction 

  • Consumer Goods

  • Healthcare and Pharmaceutical

  • Others

By Geography

  • North America (U.S, Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and the Rest of South America)

  • Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:

• The COVID-19 pandemic has caused disruptions in global supply chains leading to shortages in raw materials and delayed shipments of finished products. This has resulted in increased costs and reduced availability of plastics, affecting industries such as packaging, automotive and construction. On the other hand, there has been a surge in demand for single-use plastics such as gloves, masks and other personal protective equipment owing to the fear of contamination and transmission of the virus. This has led to an increase in production and consumption of plastic products, especially in the healthcare sector.

• The Ukraine and Russia conflict, Ukraine is a major supplier of raw materials such as polyethylene, PVC and polystyrene to European plastic manufacturers. The crisis has led to disruptions in the supply chain causing shortages in raw materials and increased costs for manufacturers. On another side, there are opportunities for investment in the Ukrainian plastics industry. The country has a skilled workforce and a growing domestic market and there is potential for the industry to expand into neighbouring markets such as Eastern Europe.

Key Takeaways:

• Asia-pacific is Leading the Market
Geographically, the Asia-pacific region held the major share of 43% in 2023 owing to its rapidly growing economy, population and urbanization which leads to significant investments in the plastic industry. Additionally, the low-cost labor, favorable government policies and access to raw materials have made an attractive location for investment and production of plastic products in this region. In 2021, as per the National Bureau of Statistics (NBS), over 80 million tonnes of plastics were produced in China which propels the plastics market growth in this region.

• Polyethylene Dominated the Market
According to the Plastics market forecast, the Polyethylene segment held the major revenue of $156 billion in 2023 owing to the lightweight, durable and flexible plastic that is widely used in various end-use industries such as packaging, agriculture, consumer goods and construction. High-Density polyethylene (HDPE) and Low-Density Polyethylene (LDPE) are making them attractive materials for a wide range of applications owing to low-cost, easy to produce and versatile. 

• Electrical and Electronics Segment Register Fastest Growth
Based on End-user, the Electrical and Electronics segment in the Plastics Market analysis is estimated to grow with the fastest CAGR of 5.1% during the forecast period 2024-2030 owing to the increasing demand for consumer electronics and the need for lighter, more durable and heat-resistant materials in the production of these products. Plastic products such as polycarbonates, polyphenylene oxide and polyamides are widely used in the electrical and electronics industry owing to their high electrical insulation, flame resistance and high-temperature resistance. As per Plastic Europe, the circularity picture in Europe is even more positive. Fossil-based plastics production is decreasing, while circular plastics production has increased by 29.2% since 2018, reaching a 19.7% share of overall European plastics production in 2022.

• Increased Demand for Packaging Materials Drives Market
The demand for plastic packaging has increased owing to its benefits such as convenience, low cost, durability and ease of transport. In addition, the growth of e-commerce and the rise of online retail have also contributed to the growth in demand for plastic packaging materials. As per United Nations Environment Programme report, about 36% of produced plastics are used in packaging materials such as single-use plastic products for food and beverages packaging.

• Growing Demand for Recycling Plastics
The recycling of plastic has become a crucial part of the plastic industry and is being embraced by governments, companies and individuals alike. Recycling plastics can help to conserve resources, reduce greenhouse gas emissions and decrease the amount of plastic waste that ends up in landfills and the ocean. Additionally, recycled plastic can be used to create new products which can create new jobs and help to boost the economy. To meet the increasing demand for recycled plastic, companies are investing in new technology and processes to make recycling more efficient and cost-effective. The development of innovative products made from recycled plastic is also driving demand for recycled plastic and is helping to create a more sustainable plastic industry. The EU and its Member States have sponsored a resolution by the UN Environment Assembly to establish an intergovernmental negotiating committee (INC) to develop an international legally binding instrument on plastic pollution by the end of 2024, including in the marine environment, to prevent plastic pollution throughout the entire plastics lifecycle.

• Environmental Concerns Hampers the Market
Environment concerns are the primary factor hampering the plastics industry. Plastic waste is a significant environmental concern with millions of tons of plastic entering the oceans and landfills every year. Plastic waste has become a global epidemic. Billions of tons of plastic waste accumulate each year, overwhelming landfills and polluting natural habitats. Traditional plastics have notoriously long lifespans, taking centuries to decompose naturally, exacerbating the problem. This has led to reduced use of plastics and increased recycling and reuse of plastic products as well as promoting more sustainable alternatives.

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Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Plastics Market. The top 10 companies in this industry are listed below:

1. Dow Inc. (AFFINITY HT1285G, AFFINITY GA 1950) 
2. LyondellBasell Industries N.V. (Alathon H4250, Clyrell EC340R)
3. BASF SE (Tinuvin®, Irgafos®)
4. ExxonMobil Corporation (Oppera™, Achieve™)
6. INEOS Group Limited (CAP311US, H02C-00)
7. ENI (EUROPRENE® (78) · CLEARFLEX® (49))
8. LG Chem, Ltd (ABS HF380, Injection H1500)
9. Chevron Phillips Chemical (Marlex® 9503H, Marlex® 9018)
10. Lanxess (Durethan®, Adiprene®)

Scope of Report:

Report Metric


Base Year Considered


Forecast Period




Market Size in 2030

$738 billion

Segments Covered

Product Type, Process Technology, End-Users and Region

Geographies Covered

North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and the Rest of South America), the Rest of the World (the Middle East and Africa).

Key Market Players

  1. Dow Inc.

  2. LyondellBasell Industries N.V.

  3. BASF SE

  4. ExxonMobil Corporation

  5. SABIC

  6. INEOS Group Limited

  7. ENI

  8. LG Chem, Ltd.

  9. Chevron Phillips Chemical

  10. Lanxess

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1   Plastics Market Overview
    1.1    Definitions and Scope
2.     Plastics Market – Executive Summary
3.     Plastics Market – Market Landscape
    3.1   Company Benchmarking- Key Companies
    3.2   Key Company Financial Analysis 
    3.3   Market Share Analysis - Key Companies
    3.4   Patent Analysis
    3.5   Pricing Analysis (Comparison of General Price Offerings in the Market)
4.     Plastics Market – Startup Company Scenario (Premium)
    4.1   Investment
    4.2   Revenue
    4.3   Venture Capital and Funding Scenario
5.     Plastics Market – Market Entry Scenario Premium (Premium)
    5.1   Regulatory Scenario
    5.2   New Business and Ease of Doing business index
    5.3   Case Studies of Successful Ventures
6.     Plastics Market - Market Forces
    6.1    Market Drivers
    6.2    Market Constraints
    6.3    Porter's Five Force Model
        6.3.1    Bargaining power of suppliers
        6.3.2    Bargaining powers of customers
        6.3.3     Threat of new entrants
        6.3.4     Rivalry among existing players
        6.3.5     Threat of substitutes
7.     Plastics Market – Strategic Analysis
    7.1    Value Chain Analysis     
    7.2    Opportunities Analysis
    7.3    Market Life Cycle Analysis 
8.    Plastics Market – by Product Type (Market Size –   $Million/$Billion) 
    8.1     Polyethylene (PE)
    8.2     Polypropylene (PP)
    8.3     Polyurethane (PU)
    8.4     Polyvinyl chloride (PVC)
    8.5     Acrylonitrile butadiene styrene (ABS)
    8.6     Others
9.      Plastics Market – by Process Technology (Market Size –$Million/$Billion) 
    9.1   Blow Molding 
    9.2   Compression Molding
    9.3   Roto Molding
    9.4   Extrusion Molding
    9.5   Injection Molding
    9.6   Others
10.    Plastics Market – by End-User (Market Size –$Million/$Billion) 
    10.1   Packaging 
    10.2   Electrical & Electronics 
    10.3   Automotive & Transportation
    10.4   Building & Construction  
    10.5   Consumer Goods
    10.6   Healthcare and Pharmaceutical
    10.7   Others
11.      Plastics Market - by Geography (Market Size -$Million/Billion)
    11.1    North America
         11.1.1    U.S
         11.1.2    Canada
         11.1.3    Mexico
    11.2    Europe
         11.2.1    Germany
         11.2.2    France
         11.2.3    UK
         11.2.4    Italy
         11.2.5    Spain
         11.2.6    Russia
         11.2.7    Rest of Europe
    11.3   Asia-Pacific
         11.3.1    China
         11.3.2    Japan
         11.3.3    South Korea
         11.3.4    India
         11.3.5    Australia & New Zealand
         11.3.6    Rest of Asia-Pacific
    11.4   South America
         11.4.1    Brazil
         11.4.2    Argentina
         11.4.3    Chile
         11.4.4    Colombia
         11.4.5    Rest of South America
    11.5    Rest of the World
         11.5.1    Middle East
         11.5.2    Africa
12.   Plastics Market - Market Entropy
    12.1    New product launches
    12.2    M&A's, collaborations, JVs and partnerships
13.    Plastics Market – Industry Competition Landscape (Premium)
    13.1   Market Share Analysis
        13.1.1    Market Share by Product Type – Key Companies
        13.1.2    Market Share by Country – Key Companies
        13.1.3    Market Share by Region – Key Companies
    13.2   Competition Matrix
        13.3   Best Practices for Companies
14.    Plastics Market – Key Company List by Country Premium (Premium)
15.    Plastics Market - Company Analysis
    15.1   Dow Chemical Company
    15.2   LyondellBasell
    15.3   BASF 
    15.4   ExxonMobil 
    15.5   SABIC 
    15.6   INEOS 
    15.7   ENI
    15.8   LG Chem
    15.9   Chevron Phillips Chemical
    15.10 Lanxess

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The Plastics Market is projected to grow at 3.8% CAGR during the forecast period 2024-2030.

Global Plastics Market size is estimated to be $567 billion in 2023 and is projected to reach $738 Billion by 2030

The leading players in the Plastics Market are Dow Inc., LyondellBasell Industries N.V., BASF SE, ExxonMobil Corporation, SABIC and others.

Growing demand for sustainable and biodegradable plastics and new technologies being developed to improve the recycling of plastics are some of the major Plastics market opportunities.

The development of new technologies and innovations in the field of plastics such as biodegradable and recycled plastics are creating new opportunities in the plastics industry growth and the growing demand for lightweight and durable plastics in various end-use industries is fuelling the Plastics market growth.