Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The global plastic market size attained a value of approximately USD 559.38 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 4.2%, reaching a value of around USD 811.85 billion by 2032.
Increasing consumerism culture worldwide is surging the demand for plastics in a wide range of applications. The versatility of plastics and wide variety of plastics available are driving the growth of the plastic market. Use of plastic in consumer goods and electrical and electronics is on the rise, with increasing incorporation of polyvinyl chloride in in the manufacturing of electrical wiring, light fittings, switches, and handles. The growth of the e-commerce sector is also catalysing the market for plastics, by accelerating the demand for light and efficient packaging of consumer goods to facilitate domestic and international shipping. Development of more eco-friendly plastics and means of recycling are anticipated to aid the market for plastic in the coming years.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The increasing production activities in various industries such as construction, transportation, and textile, among others, owing to the rising population, are fuelling the plastic market. The increasing construction activities in emerging economies, due to the population rise and rapid urbanisation is further catalysing the growth of global market for plastics. In the construction sector, plastics are used in various applications, including decoration, flooring, and waterproofing, among others. Plastic is durable, cost-effective, safe, and energy effective; these properties also contributing to the expansion of market.
Plastics are suited for use in the packaging industry due to their durability and cost-effectiveness. In this regard, the thriving packaging sector, supported by the escalating sale of consumables and drinkables, is providing impetus to the plastic market. Innovations in plastics are increasing their demand from various industries, including food and beverage, healthcare and pharmaceuticals, and cosmetics, among others. Modified atmosphere packaging in the food and beverage industry preserves food freshness and extends the product’s shelf life. In cosmetics, plastic offers lightweight, durable, and attractive packaging solutions. The varying types of plastics and their unique properties increase their usage in consumer goods, which is further augmenting the growth of the market for plastics.
Plastics are a wide range of synthetic and semi-synthetic materials that contain carbon and hydrogen. Polymers used to create plastics are mixed with additives, such as colourants, stabilisers, and fillers, which affects the chemical and physical properties. Plastics are used in a wide range of applications and in almost every industry, such as construction, textile, healthcare, transportation, and electronics, among others.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Based on product, the market is segmented into:
On the basis of application, the market is classified into:
Based on end use, the market is divided into:
The EMR report looks into the regional markets of plastic like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The substitution of metal such as aluminium and iron with plastics is facilitating the market growth. Advanced and cost-effective plastics are increasingly used in all types of industries owing to the high strength, superior flexibility, and consistent reliability while reducing the cost by 20-25%, which is further enlarging the market for plastic. Moreover, with the use of specialised design techniques, plastics with better physical and chemical properties than metal can be developed; this is expected to lead to a transition from metals to plastics in the chemical industry, which is expected to augment the global plastic market. As plastics are extremely lightweight, they are used in a variety of transportation activities, including glazing, partitions, light diffusers, and headliners, while improving the fuel economy, consequently invigorating the market growth.
Rising demand for medical personal protective equipment owing to the increasing awareness of the need to protect against infectious diseases is aiding the growth of the market for plastics. The demand for masks, face shields, gowns, goggles, gloves, and overalls, among others, is escalating exponentially, leading to the expansion of plastic market.
However, excessive use of plastics has led to the accumulation of plastic waste around the globe, which can hinder the growth of the plastic. Accordingly, various innovations and evolutions in the market are aiming at promoting the sustainability and recyclability of plastic. Development of recycling applications such as use of plastics in the construction of roads for reduced construction time and low maintenance are propelling the market growth of plastic. The increasing use of recyclable plastics in beauty packaging is providing further impetus to the market growth.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The report presents a detailed analysis of the following key players in the global plastic market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Product |
|
Breakup by Application |
|
Breakup by End Use |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!
In 2023, the global market for plastic attained a value of approximately USD 559.38 billion.
The market is projected to grow at a CAGR of 4.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 811.85 billion by 2032.
The major market drivers include the increasing use of plastics in the packaging and construction industries, rapid urbanisation, and changing lifestyles.
The key trends guiding the market growth include the increasing use of advanced and affordable plastics in diverse end-use sectors and the rising substitution of metals such as aluminium and iron with plastics in various applications.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products of plastic in the market are polyethylene (PE), polypropylene (PP), polyurethane (PU), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polybutylene terephthalate (PBT), and polycarbonate (PC), among others.
The significant applications of plastic are injection moulding, blow moulding, roto moulding, compression moulding, casting, thermoforming, extrusion, and calendering, among others.
The primary end uses of plastic are packaging, construction, electrical and electronics, automotive, medical devices, agriculture, furniture and bedding, consumer goods, and utility, among others.
The major players in the market are BASF SE, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Lyondellbasell Industries Holdings B.V., Eastman Chemical Company, Saudi Basic Industries Corporation, The Dow Chemical Company, Celanese Corporation, LOTTE Chemical Corporation, Exxon Mobil Corporation, DuPont de Nemours, Inc., Toray Industries, Inc, INEOS Limited, Ducor Petrochemicals B.V, Repsol S.A., among others.
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Pricing Plans
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-120-433-0800
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124