The base materials for making a variety of plastic items are called plastic resins. They are extensively employed in a variety of sectors, including textiles, packaging, automotive, construction, and electronics. During the coming years, the market for plastic resins is anticipated to expand rapidly due to the rising need for plastic items.
Polyethylene, polypropylene, polyvinyl chloride, polystyrene, and polyethylene terephthalate are just a few examples of the various types of plastic resins. The most popular plastic resin, polyethylene, supplies roughly 30% of the world’s demand. It is employed in the manufacture of pipes, toys, and automotive components as well as in the creation of packaging materials like plastic bags. The second-most widely used plastic resin, polypropylene is used to make a variety of goods, including food packaging, automotive parts, and medical devices.
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The demand for plastic resins is driven by several factors, including the increasing demand for lightweight and durable materials, the growing population, and the rising disposable income levels. The packaging industry is one of the major end-users of plastic resins, accounting for over 40% of the global demand. The demand for plastic packaging is driven by the growing popularity of convenience foods, online shopping, and home delivery services. The automotive industry is also a significant end-user of plastic resins, with the demand for lightweight and fuel-efficient vehicles driving the demand for plastic parts.
The Asia-Pacific region is the largest market for plastic resins, accounting for over 40% of the global demand. The region is expected to witness significant growth over the next few years, driven by the increasing demand from China and India. The North American and European markets are also expected to grow, driven by the growing demand for sustainable and eco-friendly materials.
Global Plastic Resins Market Key Players
- SABIC
- BASF SE
- Dow Inc.
- Sumitomo Chemical
- Evonik Industries
- Arkema
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Plastic Resins Market By Segmentation
By Product:
- Crystalline
- Epoxy
- Polyethylene
- Polypropylene
- Non-crystalline
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Polymethyl Methacrylate (PMMA)
- Engineering Plastic
- Nylon
- Polybutylene Terephthalate (PBT)
- Polycarbonate (PC)
- Polyamide
- Super Engineering Plastic
- Polyphenylene Sulfide (PPS)
- Polyether Ether Ketone (PEEK)
- Liquid Crystal Polymer (LCP)
By Application:
- Packaging
- Food
- Beverage
- Medical
- Retail
- Others
- Automotive
- Construction
- Electrical & Electronics
- OA Equipment and Home Appliances
- Electronic Materials
- Others
- Logistics
- Consumer Goods
- Textiles & Clothing
- Clothing
- Industrial use
- Others
- Furniture & Bedding
- Agriculture
- Medical Devices
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
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