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Plastics And Rubber Products Global Market Forecast 2025: Market Size, CAGR, Key Drivers, and Trends
Plastics And Rubber Products Market Size
What Is The Projected Market Size Of The Plastics And Rubber Products Global Market Report 2025 And Its Growth Rate?
The plastics and rubber products market has seen strong growth recently:
• The market is expected to grow from $1508.6 billion in 2024 to $1621.51 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%.
• Factors such as industrialization and manufacturing growth, automotive industry expansion, consumer goods manufacturing, medical and healthcare sector growth, and packaging industry evolution have contributed to this growth.
• Further escalation is predicted in the coming years, as the market is projected to reach $2087.48 billion in 2029 at a CAGR of 6.5%.
• The growth in the forecast period can be attributed to electric vehicles and lightweighting, circular economy initiatives, resilience in supply chain management, regulatory compliance and certification, and expansion of aerospace applications.
What Is Driving The Growth In The Plastics And Rubber Products Global Market Report 2025?
The growth in the plastics and rubber products market is driven by an increasing demand for tires from the automotive industry. A tire, a typically rubber-coated and frequently strengthened component, encircles a wheel's rim. According to the U.S. Tire Manufacturers Association (USTMA), total US tire shipments are expected to reach 334.2 million units in 2023, an increase from 332.0 million units in 2021 and in 2022. This increasing demand is anticipated to propel market growth.
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Who Are the Key Players Driving Plastics And Rubber Products Global Market Report 2025 Growth?
Key players in the market include:
• Exxon Mobil Corporation
• BASF SE
• The Dow Chemical Company
• SABIC
• LyondellBasell Industries N.V.
• Continental AG
• LG Chem Ltd.
• Mitsubishi Chemical Holdings Corporation
• Bridgestone Corporation
• The Michelin Group
• Good Year Tire & Rubber Company
• Asahi Kasei Corporation
• Evonik Industries AG
• Covestro AG
• Toray Industries Inc.
• Braskem S.A.
• Formosa Plastics Corporation
• Lotte Chemical Corporation
• Solvay S.A.
• Amcor Limited
• Berry Global Group Inc.
• DuPont de Nemours Inc.
• Arkema S.A.
• Eastman Chemical Company
• Avery dennison
• Sumitomo Rubber Group
• Teijin Limited
• Pirelli & C SpA
• The Hankook Tire group
• Trinseo S.A.
What Are The Key Trends In The Plastics And Rubber Products Global Market Report 2025?
Major trends in the forecast period include:
• Advanced recycling technologies
• Bio-based polymers
• High-performance rubber compounds
• Antimicrobial plastics and rubber
• 3D printing with polymers and rubbers
What Are The Segments Of The Global Plastics And Rubber Products Global Market Report 2025?
The market is segmented into:
• Rubber Products
• Plastic Products
• Automotive & Transportation (End-User Industry)
• Electrical & Electronics (End-User Industry)
• Medical (End-User Industry)
• Construction (End-User Industry)
• Other End Users (End-User Industry)
Which Region Leads The Plastics And Rubber Products Global Market Report 2025?
Asia-Pacific was the largest region in the plastics and rubber products market in 2024. North America stood as the second largest region. The regions assessed in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Plastics And Rubber Products Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Plastics And Rubber Products Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Plastics And Rubber Products Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Plastics And Rubber Products Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Plastics And Rubber Products Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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