DUBLIN–(BUSINESS WIRE)–The “Plastic Material and Resins Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global plastic material and resins market is expected to grow from $466.15 billion in 2020 to $562.07 billion in 2021 at a compound annual growth rate (CAGR) of 20.6%. The market is expected to reach $659.21 billion in 2025 at a CAGR of 4%.
Major companies in the plastic materials and resins market include LyondellBasell Industries; Dow Chemical Company; BASF SE; Bayer Material Science and Total SA.
The plastic materials and resins market consists of the sales of plastic materials and resins by entities (organizations, sole traders or partnerships) that manufacture plastic materials, resins, and nonvulcanizable thermoplastic elastomers, and mix and blend resins on a custom basis and/or manufacture noncustomized synthetic resins. The plastic materials and resins market is segmented into polypropylene; high-density polyethylene; poly-vinyl chloride; polyethylene terephthalate; polyurethane; low-density polyethylene; polystyrene and other plastic material and resins.
Asia Pacific was the largest region in the global plastic material and resins market, accounting for 52% of the market in 2020. North America was the second largest region accounting for 20% of the global plastic material and resins market. Africa was the smallest region in the global plastic material and resins market.
The searches 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 the external environmental stimuli. Nanocomposites are a product that is a result of a combination of nanotechnology and plastics engineering.
These products have high electrical conductivity, dimensional stability, and are also flame retardant along with resistance to scratch, dent 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.
Oil price volatility is likely to have a negative impact on the plastic material and resin market as significant decline and increase in oil prices negatively impacts the government and consumer spending.
The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria and the UAE (United Arab Emirates) which are largely dependent on revenues generated through crude oil exports; whereas significant increase in oil prices had resulted in a spurt in inflation, current account deficit and fiscal deficit in countries such as India and China, which predominantly imports oil.
For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020, to 955 billion riyals ($255 billion) by 2022, due to significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in oil process is further expected to negatively impact the market going forward.
New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches and smaller pack sizes for single-servings are being introduced and more promotional packs and brand extensions are being developed to ensure customer loyalty.
Similarly, recent development of bio-degradable plastics which degrade naturally from the actions of microorganisms such as bacteria, algae and fungi is gaining traction. These developments in packaging will increase the consumption of plastics and this will drive the market growth.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Plastic Material And Resins Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Plastic Material And Resins Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Plastic Material And Resins Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Plastic Material And Resins Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Plastic Material And Resins Market Trends And Strategies
8. Impact Of COVID-19 On Plastic Material And Resins
9. Plastic Material And Resins Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Plastic Material And Resins Market Regional Analysis
10.1. Global Plastic Material And Resins Market, 2020, By Region, Value ($ Billion)
10.2. Global Plastic Material And Resins Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Plastic Material And Resins Market, Growth And Market Share Comparison, By Region
11. Plastic Material And Resins Market Segmentation
11.1. Global Plastic Material And Resins Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Polypropylene-Plastic Material And Resins
- High-Density Polyethylene
- Poly-Vinyl Chloride
- Polyethylene Terephthalate
- Low-Density Polyethylene
- Polystyrene-Plastic Material And Resins
- Other Plastic Material And Resins
11.2. Global Plastic Material And Resins Market, Segmentation By End-User Industry, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Chemical Industry
- Coating & Printing Industry
- Electronics Industry
- Food & Pharmaceutical Industry
12. Plastic Material And Resins Market Metrics
12.1. Plastic Material And Resins Market Size, Percentage Of GDP, 2015-2025, Global
12.2. Per Capita Average Plastic Material And Resins Market Expenditure, 2015-2025, Global
- LyondellBasell Industries
- Dow Chemical Company
- BASF SE
- Bayer Material Science
- Total SA
For more information about this report visit https://www.researchandmarkets.com/r/i5tcvo
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900