Plastic Market Size, Share, and Growth Analysis

Global Plastic Market

Plastic Market By Product Type (Thermoplastics, Thermosets), By Processing Method (Injection Molding, Blow Molding, Compression Molding), By Biodegradability (Biodegradable, Non-biodegradable), By Application (General, Engineering, and Functional Plastic), By End-Use Industry, By Region, and Segment Forecast, 2025-2032


Report ID: SQMIG15A2572 | Region: Global | Published Date: June, 2025
Pages: 189 |Tables: 157 |Figures: 78

Format - word format excel data power point presentation

Plastic Market Insights

Global Plastic market size was valued at USD 602.66 billion in 2023 and is poised to grow from USD 628.42 billion in 2024 to USD 866.67 billion by 2032, growing at a CAGR of 4.10% in the forecast period (2025-2032).

Rapidly increasing global population and subsequent urbanization are the primary factors that have resulted in increased production of plastics in the construction industry. Increasing demand for e-commerce services and food delivery services among people are other factors that bolster plastic demand for packaging. Incentives for recycling and advancements in plastic recycling technologies are also expected to alter the global plastic market development trajectory across the study period.

However, strict regulations regarding the use of single-use plastics, plastics as packaging materials etc., volatility in price of petroleum which is raw material for plastic, and community opposition regarding the health and environment concerns associated with plastic are some top restraints that could impede plastic demand in the future.

How is Chemical Recycling Creating New Opportunities in the Market?

Chemical recycling processes such as depolymerization and pyrolysis are changing market dynamics. Depolymerization breaks plastic waste down into monomers to produce virgin-quality plastics. Unlike mechanical recycling, it handles mixed or contaminated plastics while at the same time enabling closed-loop recycling for industries like automotive and packaging. A recent example is LOTTE Chemical’s January 2025 collaboration with Hyundai and Kia. These companies came together to introduce depolymerized recycled PMMA for vehicle components. This recycled plastic, used in Kia’s EV3 concept rear lamp lens, matches the quality of virgin material and aligns with EU End-of-Life Vehicle (ELV) regulations.

Market snapshot - 2025-2032

Global Market Size

USD 602.66 billion

Largest Segment

Thermoplastics

Fastest Growth

Thermoplastics

Growth Rate

4.10% CAGR

Global Plastic Market ($ Bn)
Country Share for Asia Pacific Region (%)

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Plastic Market Segments Analysis

The global plastic market is segmented into product type, processing method, biodegradability, application, end-use industry and region. By product type, the market is classified into Thermoplastics and Thermosets. Depending on processing method, it is divided into injection molding, blow molding, roto molding, compression molding, casting, thermoforming, extrusion, calendering, and others. According to biodegradability, the market is categorized as biodegradable, and non-biodegradable. Based on application, the market is categorized into general plastic, engineering plastic, and functional plastic. Based on end-use industry, the market is categorized into packaging, building & construction, electrical & electronics, automotive, healthcare & pharmaceuticals, agriculture, furniture & bedding, consumer goods, utility, textiles, chemicals, and others. Regionally, the plastic market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

Which Type of Product is Dominating the Global Plastic Market?

As per the 2024 global plastic market analysis, thermoplastics sub-segment held the largest share of revenue and controlled the market. Thermoplastics have versatile properties. They are easy to mold, recyclable, and find use across industries such as packaging, automotive, electronics, and construction. They can be melted and reshaped multiple times without altering their chemical properties, which makes them preferable. Common types like polyethylene (PE), polypropylene (PP), and polyvinyl chloride (PVC) have found extensive industrial applications. All these factors solidify thermoplastics' position as the largest market segment.

The thermosets segment is expected to experience the highest compound annual growth rate (CAGR) through the forecasted period. This is due to their properties of superior heat resistance, structural integrity, and use in high-performance applications. Industries such as aerospace, electronics, wind energy, and automotive are using thermosets like epoxy resins and polyurethanes for their lightweight and durable nature.

Which End-Use Industry has the Most Demand for Plastics?

Based on the 2024 global plastic market forecast, the packaging industry in the end-use industry segment dominated the market. It accounted for the highest consumption of plastics. Starting from food and beverage to personal care and industrial packaging, plastic materials like PET, HDPE, and LDPE are extensively used in each of these industries’ end products. The rise in e-commerce, and demand for convenience packaging also make this segment the largest contributor to the market’s revenue.

The healthcare and pharmaceuticals category are expected to have the highest growth rate during the forecast period of 2025-2032. The increased health awareness and aging population demand safe, sterile medical products. Plastics are essential in producing items like syringes, IV bags, implants, and diagnostic tools. The new advancements in medical-grade polymers are also playing a role in this sector’s expansion.

Global Plastic Market Analysis by Product Type

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Plastic Market Regional Insights

Why is Asia Pacific Leading Plastic Market in 2024?

As per the 2024 plastic market regional forecast, the Asia Pacific market is predicted to hold the largest share among all regions in 2024. The region sees a high rate of consumption of plastics in the packaging, automotive, electronics, and construction sectors. The manufacturing bases in countries such as China, India, Japan, and South Korea are massive. The production costs are low and domestic demand for plastics is on the rise. China alone accounts for a about 1/3rd of the global plastic production capability. These factors are making Asia-Pacific the most dominant region in the plastic value chain.

China Plastic Market

In Asia Pacific, China leads the plastic market share. China’s massive manufacturing base and strong demand for plastic from packaging, automotive, electronics, and construction sectors, contribute to its growth. By the end of 2025, the annual production of primary form plastics in China is to reach more than 130 million tons. There has also been government support for recycling infrastructure and innovation in plastic packaging. In December 2023, Mars China launched a new Snickers dark chocolate cereal bar with mono-material recyclable polypropylene (PP) flexible packaging. This perfectly aligns with China's recycling standards and acts a significant driver for the plastic market growth.

India Plastic Market

India in Asia Pacific falls behind China in the plastic market demand. Japan has been setting a global benchmark for efficient management of wastes. Rapid industrialization, rising urbanization, and booming packaging and automotive industry contribute to the market’s growth. India ranks 12th in the world export of plastics according to the World Bank estimates of 2022. The country’s initiatives like “Make in India” encourage domestic production. Currently the Indian market is large but highly fragmented where small and medium units majorly dominate. In 2022, LyondellBasell and Shakti Plastic Industries signed an MoU to establish India’s largest mechanical recycling plant. This plant will process 50,000 tonnes of post-consumer rigid plastic waste annually.

Why is Demand for Plastic Fueling Growth in North America?

North America is predicted to grow at the highest rate in the plastic market share over the projection period of 2025-2032. The growth in the region is led by technological advancements, a surge in sustainable and specialty plastic demand, and growing investments in recycling infrastructure. Other factors such as supportive regulations and corporate sustainability commitments also support greater growth of plastic market. The U.S. emerges as the leading nation in innovation for biodegradable and high-performance plastics.

U.S. Plastic Market

The U.S. plastic market grew at a steady rate during the forecast period. The U.S. has a strong demand for plastic from the packaging, automotive, healthcare, and consumer goods sectors. Innovation in sustainable plastics, such as bioplastics and chemically recycled materials, is gaining momentum. However, the full-year production in 2024 was estimated to be 1.7% lower than in 2023. In 2024, BASF launched its ChemCycling initiative in the U.S. This initiative focused on producing Ccycled products using plastic waste-derived feedstock at its Port Arthur, Texas facility.

Canada Plastic Market

Canada is among the most dominant countries of North America’s plastic market growth in 2024. The Canada, plastic production is a more than a $30 billion industry. Canada’s market growth is shaped by the growing investment in circular economy initiatives and government’s zero plastic waste agenda. In April 2024, the Government of Canada launched the Federal Plastics Registry. This requires plastic producers to report on the types and quantities of plastics they are placing on the market. This tool will track plastic across its lifecycle, support the Zero Plastic Waste Agenda, and help in encouraging transparency and innovation in the market.

How is Europe Maintaining its Position in the Plastic Industry?

Europe held a significant plastic market share in 2024 and is likely to continue so during the forecast period of 2025-2032. This is due to the strong environmental regulations, along with already existing consumer awareness, and wide adoption of circular economy frameworks. The EU’s Green Deal and Single-Use Plastics Directive are also contributing factors. Major industries in Europe like automotive, packaging, and construction are shifting toward biodegradable plastics.

Germany Plastic Market

Germany holds a huge part of the European plastic market. Germany oversees about 22 percent of plastics production in Europe. Its recycling system is very well structured. Germany has a strong demand from the industrial side as well. The country’s engineering and manufacturing sectors have a huge demand for high-performance and technical plastics. Regulatory policies in the country also encourage innovation and material recovery across the value chain.

U.K. Plastic Market

The U.K. plastic market share is also experiencing steady growth. According to the British Plastics Federation, the UK produces about 1.6 million Tonnes of plastics raw materials annually. Ineos, Basell Polyolefins, Sabic, Inovyn and Lotte Chemicals, are a few of the 5500+ companies that are present in the UK plastic industry. Key sectors such as retail, food packaging, and healthcare are key customers of the UK plastic industry.

France Plastic Market

The France plastic market’s plastic dynamic is hugely influenced by the environmental policy, like the French Anti-Waste Law for a Circular Economy. This aims to reduce plastic usage and improve recyclability. There is also emphasis on the use of recycled content, especially in packaging and consumer goods. France is promoting alternatives to conventional plastics.

Global Plastic Market By Geography
  • Largest
  • Fastest

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Plastic Market Dynamics

Plastic Market Drivers

Urbanization and Population Growth

  • The global population is rising at an alarming rate with many people moving into cities and thereby increasing the rate of urbanization as well. According to the United Nations, 55% of the world’s population resides in cities which will increase to 66% by 2050. This rise in population and urbanization results in development of infrastructure. This creates a need for plastic products in construction, such as pipes, insulation materials, and window frames. This need is the driving force behind investments in plastic in emerging economies.

Huge Demand from Packaging Industry

  • The packaging industry is a major customer of plastics. The increase in e-commerce, food delivery services, and FMCG demand has created an increasing demand for packaging. According to latest projections, the global use of plastic will nearly double from 464 Mt in 2020 to 884 Mt in 2050. A huge contributor to this is packaging applications. Innovations in the industry such as development and use of biodegradable and recyclable plastic packaging will also increase market potential.

Plastic Market Restraints

Strict Environmental Regulations

  • Governments around the world are implementing strict regulations on single-use plastics, plastic waste from packaging, and non-recyclable materials. There has been introduction of bans and taxes on certain plastic products in Europe and North America. This can restrict market growth. To comply with these evolving laws means an increase in complexity in operations and costs for manufacturers. This pushes them to withdraw investments from plastics.

Volatility in Prices of Raw Materials

  • Majority of the plastic that are produced across the world heavily depends on petrochemical feedstocks like crude oil and natural gas. Oil prices keep fluctuating due to geopolitical instability, OPEC policies, and global supply-demand shifts. This puts a heavy impact on plastic manufacturing costs. It creates uncertainty in profit margins and supply chain mainly for small and medium-sized enterprises.

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Plastic Market Competitive Landscape

The global market for plastic is a highly competitive one. Leading companies, such as ExxonMobil, Dow, SABIC, LyondellBasell, BASF, etc. have been adopting strategies centred around scaling up, innovation, global outreach and creating strategic partnerships across the value chain. LOTTE Chemical is expanding its partnership with Hyundai Motor and Kia in 2025. The partnership will aim to develop eco-friendly plastics for future mobility. This includes depolymerized recycled PMMA for EV components and a high content (70%) recycled PC/PET material. These innovations will contribute towards reducing carbon emissions while still maintaining performance and flexibility in design. These types of collaborations show how the industry is slowly shifting towards scientific R&D. Other tactics followed by market influencers include focusing on circular economy models, offering recycled-content resins and investing in bioplastics. Startups are focusing on bio-based plastic to standout in the market.

  • Founded in Vietnam in 2022, BUYO Bioplastics Co. Ltd. is a pioneering startup producing 100% nature-based, biodegradable plastics from bio-waste. The company uses proprietary technology to convert organic waste into high-performance bioplastics for flexible and rigid packaging, textiles, and medical applications. It serves B2B clients across the EU, North America, and Asia. It won TECHFEST Vietnam 2023, joined the 100+ Accelerator with top brands, and was a winner of the ASEAN Blue Innovation Challenge 2024. BUYO is Southeast Asia’s first bioplastics firm selected for the SelectUSA CleanTech Summit.
  • Biotic Labs is a climate-focused biotech startup founded in 2020 in Israel. It provides bio-based, biodegradable plastic alternatives using macroalgae and agricultural waste. Its key innovation is PHBV polymers which acts as a drop-in solution for conventional plastics. It is backed by entities like MassChallenge and Rockstart. The startup gained major recognition in 2024 by winning the Continental Climate Solutions Prize for its algae-based plastics for automotive applications.

Top Player’s Company Profiles in Plastic Market

  • BASF SE (Germany)
  • Dow Inc. (United States)
  • SABIC (Saudi Basic Industries Corporation) (Saudi Arabia)
  • INEOS Group (United Kingdom)
  • ExxonMobil Chemical (United States)
  • LyondellBasell Industries N.V. (United States)
  • LG Chem (South Korea)
  • Chevron Phillips Chemical (United States)
  • Formosa Plastics Group (Taiwan)
  • Covestro AG (Germany)
  • TotalEnergies SE (France)
  • DuPont de Nemours, Inc. (United States)
  • Toray Industries, Inc. (Japan)
  • Mitsubishi Chemical Group (Japan)
  • Braskem S.A. (Brazil)
  • Reliance Industries Limited (India)
  • Hanwha Group (South Korea)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • Westlake Corporation (United States)
  • Celanese Corporation (United States)

Recent Developments in Plastic Market

  • In May 2025, Toyoda Gosei developed a horizontal recycling technology that helps to use recycled plastic with 50% end-of-life vehicle (ELV) content in automotive parts like glove boxes. This innovation was developed with Isono Co., Ltd. It supports decarbonization and circular economy goals. It aligns with Toyoda Gosei’s Business Plan of 2030 to expand use of eco-friendly materials in vehicle design.
  • Dow launched two new REVOLOOP recycled plastic resins in June 2024. One has 100% and another has up to 85% post-consumer recycled (PCR) content. These are for non-food shrink film applications. This launch was made in collaboration with RKW Group. The resins utilize household waste to create high-performance, recyclable collation shrink films.
  • At Cosmoprof Bologna 2024 which took place in March 2024, LG Chem showcased Polyethylene Carbonate (PEC). This is an eco-friendly plastic made from captured CO₂ and ethylene oxide. It was developed using proprietary catalysts that have the highest productivity among CO₂-based plastics. This was done in collaboration with COSMAX. PEC targets cosmetic containers and food packaging.

Plastic Key Market Trends

Plastic Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

As per SkyQuest analysis, rapidly increasing use of plastic in various industries such as packaging, healthcare & pharmaceuticals, automotive, construction, etc. is projected to be the key factor driving up the demand for plastic around the world. However, strict regulatory watch including bans of single use plastic and scrutiny over plastic in packaging, volatility of prices of raw materials and growing environmental and health concerns over plastic use are some restraints that trouble plastic companies. The presence of a massive manufacturing base has allowed the Asia Pacific region to become the leader in the global plastic market. Thermoplastics will be the most lucrative segment for market players going forward. Incorporation of circular economy principles will offer remunerative opportunities for plastic companies in the long run.

Report Metric Details
Market size value in 2023 USD 602.66 billion
Market size value in 2032 USD 866.67 billion
Growth Rate 4.10%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Thermoplastics
    • Thermosets
  • Processing Method
    • Injection Molding
    • Blow Molding
    • Roto Molding
    • Compression Molding
    • Casting
    • Thermoforming
    • Extrusion
    • Calendering
    • Others
  • Biodegradability
    • Biodegradable
    • Non-biodegradable
  • Application
    • General Plastic
    • Engineering Plastic
    • Functional Plastic
  • End-Use Industry
    • Packaging
    • Building & Construction
    • Electrical & Electronics
    • Automotive
    • Healthcare & Pharmaceuticals
    • Agriculture
    • Furniture & Bedding
    • Consumer Goods
    • Utility
    • Textiles
    • Chemicals
    • Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • BASF SE (Germany)
  • Dow Inc. (United States)
  • SABIC (Saudi Basic Industries Corporation) (Saudi Arabia)
  • INEOS Group (United Kingdom)
  • ExxonMobil Chemical (United States)
  • LyondellBasell Industries N.V. (United States)
  • LG Chem (South Korea)
  • Chevron Phillips Chemical (United States)
  • Formosa Plastics Group (Taiwan)
  • Covestro AG (Germany)
  • TotalEnergies SE (France)
  • DuPont de Nemours, Inc. (United States)
  • Toray Industries, Inc. (Japan)
  • Mitsubishi Chemical Group (Japan)
  • Braskem S.A. (Brazil)
  • Reliance Industries Limited (India)
  • Hanwha Group (South Korea)
  • Sumitomo Chemical Co., Ltd. (Japan)
  • Westlake Corporation (United States)
  • Celanese Corporation (United States)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Plastic Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Plastic Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Plastic Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Plastic Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Plastic Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Plastic Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

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FAQs

Global Plastic market size was valued at USD 602.66 billion in 2023 and is poised to grow from USD 628.42 billion in 2024 to USD 866.67 billion by 2032, growing at a CAGR of 4.10% in the forecast period (2025-2032).

BASF SE (Germany), Dow Inc. (United States), SABIC (Saudi Basic Industries Corporation) (Saudi Arabia), INEOS Group (United Kingdom), ExxonMobil Chemical (United States), LyondellBasell Industries N.V. (United States), LG Chem (South Korea), Chevron Phillips Chemical (United States), Formosa Plastics Group (Taiwan), Covestro AG (Germany), TotalEnergies SE (France), DuPont de Nemours, Inc. (United States), Toray Industries, Inc. (Japan), Mitsubishi Chemical Group (Japan), Braskem S.A. (Brazil), Reliance Industries Limited (India), Hanwha Group (South Korea), Sumitomo Chemical Co., Ltd. (Japan), Westlake Corporation (United States), Celanese Corporation (United States)

Rising urbanization—set to reach 66% by 2050—is driving infrastructure growth and boosting demand for plastics in construction across emerging economies.

Driven by regulations and sustainability goals, producers are shifting to bio-based plastics, with global capacity set to grow from 2.47M to 5.73M tonnes by 2029.

Asia Pacific dominates the 2024 plastic market, driven by strong demand in key sectors, low production costs, and China’s one-third share of global output.

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