Plastic Resins Industry Overview The global plastic resins market size is expected to reach USD 1.07 trillion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a 4.5% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components. Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA), as well as EU initiatives to develop plastics applications for light-weight and fuel-efficient cars, are expected to fuel global growth and promote the market. However, the ongoing health crisis and the lockdown imposed by various governments to contain the spread of the coronavirus pandemic have led to a decline in the consumption of plastic resins. It is expected to further negatively impact the market growth in the years to come. Plastic Resins Market Segmentation Grand View Research has segmented the global plastic resins market report based on product, application, and region: Based on the Product Insights, the market is segmented into crystalline, non-crystalline, engineering plastic and super engineering plastic
Based on the Application Insights, the market is segmented into packaging, automotive, construction, electrical & electronics, logistics, consumer goods, textiles & clothing, furniture & bedding, agriculture, medical devices and others
Plastic Resins Regional Outlook
Key Companies Profile & Market Share Insights The global plastic resins market is significantly fragmented owing to the presence of a large number of local as well as regional players. The global players face intense competition from each other as well as from the regional players who have strong distribution networks and good knowledge about regulations and suppliers. Key manufacturers are continuously focusing on strengthening their presence in the emerging markets of the Asia Pacific and Middle East & Africa through different expansion strategies. Some prominent players in the global plastic resins market include:
Market Industry Development
Order a free sample PDF of the Plastic Resins Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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