Polymer Resin Market Size, Share, Growth Analysis, By Resin Type(Polystyrene, Polyethylene, polyvinyl Chloride, Polypropylene), By Application(Electrical & Electronics, Construction, Medical, Automotive), By Product(Crystalline Resins, and Non-crystalline Resins), By Region - Industry Forecast 2024-2031

Rising demand for packaging from food, beverage and cosmetic industries is expected to drive the market growth in North America. Increasing demand for packaging, electronics, consumer goods, and other manufacturing products is set to witness significant growth in the region. This is driving the market growth with growing economies in the region in which technological advances help. The increasing awareness of beauty and personal care has increased the consumption of cosmetic products in the region, driving demand for packaging materials from cosmetic manufacturers. Thus, this increase in packaging will create opportunities for finishing product growth in North America.

Asia-Pacific accounted for a market size of USD 268.20 billion by 2022. The region retained the largest market share in 2022 and is expected to maintain its dominant position in the coming years This product is primarily leading plastics such as China and India. It should be extended to producing and consuming countries. In addition, cheap labor and raw materials were available locally, leading many manufacturers to set up manufacturing plants. China is a major producer of electronic devices such as laptops, televisions and smartphones. The rapid shift of consumers to devices for their daily activities is driving the market in this area.