Industrial Plastic Market Size To Reach $143.03 Billion By 2030

Industrial Plastic Market Growth & Trends

The global industrial plastic market size is anticipated to reach USD 143.03 billion by 2030, registering a revenue-based CAGR of 6.0% over the forecast period, according to a new report by Grand View Research, Inc. Developments in the building and construction. electrical and electronics industries are projected to positively impact the demand for industrial plastics. Industrial plastics reduce weight in various equipment, thus improving their performance and reducing the overall maintenance cost. Rising demand for environmentally friendly and energy-saving products and solutions is expected to drive the market for industrial plastics. Moreover, increasing investments by the government and private institutions in the aerospace and defense sector are projected to contribute to the demand for these industrial plastics.

Most global companies are expected to enhance their product offerings for their consumers in Asia Pacific, Central and South America, and the Middle East and Africa. This can be attributed to significant growth opportunities for these companies in the electrical and electronics and building and construction industries. Strategic partnerships, capacity expansion, and new product development are among the major strategies adopted by most players operating in the market. Demand for products that are lightweight, durable, and efficient is increasing in various applications, including automotive, electrical and electronics, building and construction, and others. New product launches have enabled consumers to pick application-specific products from a wide range of options. Expansion of distribution channels has also made industrial plastics readily available to the users, thus acting as a driving force for the growth of this market.

 Request a free sample copy or view report summary: Industrial Plastic Market Report

Industrial Plastic Market Report Highlights

• Based on product, polyamide occupied the largest share in 2014 on account of its properties, such as rigidity, sliding friction, dimensional stability, and chemical resistance

• PEKK emerged as the fastest growing product segment in Asia Pacific and North America as it is used in 3D printing application in the healthcare, automotive, and aerospace industries

• By application, the automotive and transportation segment accounted for 29.1% share of the global revenue in 2024 and is projected to witness significant growth over the forecast period.

• Asia Pacific dominated the market in 2024, holding the largest revenue share at over 45.9%, China being the largest shareholder in the region, accounting for 52.84% of the market share,

• The overall North American plastics market is projected to reach a revenue of approximately USD 139.65 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2030.

Industrial Plastic Market Segmentation

Grand View Research has segmented the industrial plastic market on the basis of product, application, and region:

Industrial Plastic Product Outlook (Revenue, USD Million, Tons, 2018 - 2030)

• Polyphenylene Ether

• Acrylonitirle Butadiene Styrene (ABS)

• Polybutylene Terephthalate (PBT)

• PEEK

• Polyamide

• Polysulfone (PSU)

• Polyphenylsulfone (PPSU)

• Liquid Crystal Polymers

• Polytettrafluoroethylene (PTFE)

• Polyetherimide

• PEKK

• Polycarbonate

• Others (PEK, etc.)

Industrial Plastic Application Outlook (Revenue, USD Million, Tons, 2018 - 2030)

• Packaging

• Building & Construction

• Electrical & Electronics

• Automotive & Transportation

• Healthcare

• Aerospace

• Others

Industrial Plastic Region Outlook (Revenue, USD Million, Tons, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • U.K.

  • Spain

  • Italy

  • Turkey

• Asia Pacific

  • China

  • India

  • Japan

  • Southeast Asia

• Central & South America

  • Brazil

• Middle East & Africa

List of Key Players in the Industrial Plastic Market

• BASF

• SABIC

• Victrex plc.

• Ensinger

• Evonik Industries AG

• LyondellBasell Industries Holdings B.V.

• Arkema Inc.

• Eastman Chemical Company.

• Solvay SA

• Formosa Plastics Corporation, U.S.A.

• Teijin Aramid

• Mitsubishi Engineering-Plastics Corporation