Press release
Global Plastic Material And Resins Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033
Plastic Material And Resins Market
The plastic material and resins market size is expected to see rapid growth in the next few years. It will grow to $1498.73 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to new developments in packaging will drive the growth in the plastic material and resins market. Major trends in the forecast period include new technological developments in the manufacturing process and trying to develop products with improved attributes and new characteristics, focusing on the research and development of new materials that are environmentally friendly and also have widespread use, investing in automation and robotics in factories to increase productivity, using recycled plastic products as raw materials to reduce their carbon footprint, and focusing on collaborating with technology-based companies and research organizations in development activities of advanced polymers.
Market Overview -
The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include no vulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins.
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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.
Competitive Landscape -
Major companies operating in the plastic material and resins market report are 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), Awgifts Europe, 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, Messe Brasil, 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, 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
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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