GVR Report cover Plastic Resins Market Size, Share & Trends Report

Plastic Resins Market Size, Share & Trends Analysis Report By Product (Crystalline Resin, Engineering Plastic), By Application (Packaging, Medical Devices), By Region (China, APAC), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-3-68038-877-0
  • Number of Pages: 281
  • Format: Electronic (PDF)

Report Overview

The global plastic resins market size was estimated at USD 731.25 billion in 2021, projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2030. Rising product demand from the construction, automotive, and electrical & electronics sectors is the key factor driving the market growth. The rapidly developing global automotive industry is expected to trigger the product demand in applications such as under-the-hood components, exteriors, and interiors of automobiles. The increasing application of resins in the automotive industry is spurred by the demand for lightweight and inexpensive multi-utility vehicle models with high fuel efficiency and an emphasis on aesthetics and comfort.

U.S. plastic resin market size, by product, 2020 - 2030 (USD Billion)

The product consumption is also expected to increase in the healthcare sector owing to the growing production of Personal Protective Equipment (PPE), such as face masks, face shields, medical gowns, and various medical devices, due to the rising cases of COVID-19 across the globe. Increasing spending in the construction sector by various governments, especially in India and China, is expected to push the product demand in infrastructure and construction applications.

In 2021, the Asia Pacific region emerged as one of the fastest-growing construction markets. China, Japan, Indonesia, and Australia are among the prominent countries where the construction market is expected to witness significant growth over the forecast period.

Product Insights

The crystalline resins product segment accounted for the maximum revenue share of more than 62% in 2021 and is expected to maintain its dominance throughout the forecast period. The Polyethylene (PE) resin sub-segment accounted for a prominent share in the crystalline type segment owing to their increasing demand from food packaging, stretch wrap, medical applications, etc. The non-crystalline resin segment accounted for around 1/5th of the overall revenue share in 2021. However, the demand for these products is expected to decline over the forecast years owing to the increasing utilization of other polymers, such as polyamide, polyether ether ketone, and liquid crystal polymers.

The super engineering plastic segment is expected to grow at a CAGR of 5.3% during the forecast period. This can be primarily attributed to the wide usage of these products in semiconductor packaging, high-speed connectors packaging, and medical applications, due to their high electrical and thermal properties. The engineering plastic segment accounted for a small share of the market. However, it is expected to witness an above-average growth during the forecast period as these plastics possess good mechanical & thermal properties, wear & chemical resistance, and dimensional stability.

Application Insights

The packaging segment accounted for the highest revenue share of more than 36% in 2021 and is projected to expand further at a steady CAGR over the forecast period. The growing packaging industry supported by the increasing demand for packaged foods and beverages will boost the segment growth. In addition, various government bodies have laid down stringent guidelines regarding the safe usage of plastic materials in food and beverage applications, which is likely to support the segment growth.

Global plastic resin market share, by application, 2021 (%)

The automotive application sector is expected to witness prominent growth in the market over the coming years supported by the increasing utilization of plastics in automotive components coupled with a rise in the production of passenger cars as well as heavy-duty vehicles, particularly in Asia Pacific and Central & South America regions. The medical devices application segment is estimated to register the fastest CAGR from 2022 to 2030. Resins are widely utilized in the manufacturing of medical devices as they offer better clarity, cost-effectiveness, and biocompatibility. Various polymers, such as Polyethylene (PE) and Polystyrene (PS), are blended to achieve desirable properties for use in medical devices.

Regional Insights

China accounted for the highest revenue share of 33% in 2021. China is self-sufficient in terms of plastic production with an adequate number of plants and production capacity required to fulfill the local demand. Furthermore, China exports various types of plastics to neighboring countries owing to a large production base. North America is anticipated to witness moderate growth over the forecast years. Regulatory policies framed by the FDA, EPA, and other agencies are likely to act as a restraint. However, the impact of this factor is expected to be mitigated by alternative production processes and sustainability through the life cycle of the product.

Europe is expected to witness a below-average growth rate over the coming years. Stringent environmental regulations by regulatory bodies, such as the European Chemicals Agency (ECHA) and the European Commission, characterize the market in Europe. Landfill bans have existed for decades in many European countries, such as Denmark, France, Germany, and Austria. High landfill tipping fees, dumping tariffs, waste management, and closing costs of landfills have encouraged the European population to switch to recycled products. Zero Waste Europe, an organization involved in eliminating waste in the society in collaboration with the European Commission intends to bring residual waste to zero.

Key Companies & 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.

For instance, On February 1, 2022, BASF started marketing polyamide (PA) and polyphthalamides (PPA) grades in Europe that it acquired as part of the takeover of Solvay’s PA66 business. Ultramid® One J (PA66/6T) has good mechanical and dielectric properties under humid conditions and elevated temperatures.

Owing to the global pandemic, companies have also undertaken various initiatives. For instance, in March 2021, Eastman Chemical Company donated over 1,000 feet of PETG film to the Austin Peay State University in Clarksville for making 3D-printed face shields. Some prominent players in the global plastic resins market include:



  • Dow, Inc.

  • Evonik Industries AG

  • Sumitomo Chemical

  • Arkema

  • Celanese Corp.

  • Eastman Chemical Company

  • Chevron Phillips Chemical Co., LLC

  • Lotte Chemical Corp.

  • Covestro AG

  • Toray Industries, Inc.

  • Teijin Ltd.

Plastic Resins Market Report Scope

Report Attribute


Market size value in 2022

USD 754.57 billion

Revenue forecast in 2030

USD 1.07 trillion

Growth rate

CAGR of 4.5% from 2022 to 2030

Base year for estimation


Historical data

2019 - 2020

Forecast period

2022 - 2030

Quantitative units

Volume in kilo tons, revenue in USD million and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; China; Asia; Pacific; Central & South America; MEA

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman

Key companies profiled

BASF SE; Dow, Inc.; SABIC; Evonik Industries AG; Sumitomo Chemical; Arkema; Celanese Corp.; Eastman Chemical Company; Chevron Phillips Chemical Co., LLC; Lotte Chemical Corp.; Covestro AG; Toray Industries, Inc.; Teijin Ltd.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. 

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global plastic resins market report based on product, application, and region:

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Crystalline

      • Epoxy

      • Polyethylene

      • Polypropylene

    • Non-crystalline

      • Polyvinyl Chloride (PVC)

      • Polystyrene (PS)

      • Acrylonitrile Butadiene Styrene (ABS)

      • Polymethyl Methacrylate (PMMA)

    • Engineering Plastic

      • Nylon

      • Polybutylene Terephthalate (PBT)

      • Polycarbonate (PC)

      • Polyamide

    • Super Engineering Plastic

      • Polyphenylene Sulfide (PPS)

      • Polyether Ether Ketone (PEEK)

      • Liquid Crystal Polymer (LCP)

  • Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • Packaging

      • Food

      • Beverage

      • Medical

      • Retail

      • Others

    • Automotive

    • Construction

    • Electrical & Electronics

      • OA Equipment and Home Appliances

      • Electronic Materials

      • Others

    • Logistics

    • Consumer Goods

    • Textiles & Clothing

      • Clothing

      • Industrial use

      • Others

    • Furniture & Bedding

    • Agriculture

    • Medical Devices

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Poland

      • Spain

    • China

    • Asia

      • India

      • Japan

      • Thailand

      • Malaysia

      • Indonesia

      • Vietnam

      • Singapore

      • Philippines

    • Pacific

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • United Arab Emirates (UAE)

      • Oman

Frequently Asked Questions About This Report

gvr icn


gvr icn

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

gvr icn


We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member


ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon