Synthetic Resin Market Size To Reach $795.83 Billion By 2033

Synthetic Resin Market Growth & Trends

The global synthetic resin market is anticipated to reach USD 795.83 billion by 2033 and is anticipated to expand at a CAGR of 4.92% during the forecast period, according to a new report by Grand View Research, Inc. The market serves as a cornerstone of the global materials industry, distinguished by its adaptability, resilience, and cost-effectiveness.

Synthetic resins, spanning thermoplastics like polyethylene and polypropylene as well as thermosetting types such as epoxy and polyester, provide a wide range of mechanical and chemical properties. These polymers are essential for various applications, including packaging films, rigid containers, automotive parts, electrical housings, and industrial coatings. Their natural durability, chemical resistance, and relatively low production costs make synthetic resins a preferred choice for manufacturers looking for scalable solutions across industries.

One of the main growth drivers for the synthetic resin industry is the escalating demand from the packaging and automotive industries, where lightweight, high-performance materials are paramount. In packaging, resin-based films such as BOPP and PET provide superior barrier properties, extending product shelf life while meeting consumer expectations for convenience. In automotive, the pressure to reduce vehicle weight and improve fuel efficiency has steered OEMs toward engineering plastics like polyamide blends and high-performance thermosets for structural and interior applications.

Technological advancements, such as the development of low-VOC, UV-curable resins and bio-based alternatives, are further enhancing performance benchmarks and aligning the market with stringent environmental regulations.

The market players are focusing on various strategic initiatives such as mergers, acquisitions, and collaborations. For instance, in March 2024, India’s DCM Shriram planned to invest about USD 121 million to set up a new greenfield epoxy resins manufacturing plant as part of its expansion into advanced materials.

 Request a free sample copy or view report summary: Synthetic Resin Market Report

Synthetic Resin Market Report Highlights

• Based on form, solid accounted for the largest share of 71.28% market size in 2024.

• Based on product type, thermosetting resin accounted for the largest share, 77.00% of the market in 2024.

• Based on application, packaging accounted for the largest revenue share of 42.60% in 2024.

• Based on end use, transportation accounted for the largest revenue share of 24.24% in 2024.

• Asia Pacific dominated the global synthetic resin industry, with a 47.78% revenue share in 2024. The rapid expansion of the healthcare and pharmaceutical industries in Asia Pacific is driving demand for high-purity, medical-grade resins used in sterile packaging and medical devices.

• China led the Asia Pacific region and captured around 45% of the revenue share in 2024.

Synthetic Resin Market Segmentation

Grand View Research has segmented the global synthetic resin market based on form, product type, application, end use, and region:

Synthetic Resin Form Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• Solid

• Liquid

• Emulsion

• Dispersion

Synthetic Resin Product Type Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• Thermosetting Resin

  • Epoxy Resins

  • Phenolic Resins

  • Polyurethane Resins

  • Polyester Resins

  • Other Thermosetting Resin

• Thermoplastic Resin

  • Polyethylene

  • Polypropylene

  • Polyvinyl Chloride

  • Polycarbonate

  • Polyethylene Terephthalate

  • Nylon

  • Other Thermoplastic Resin

Synthetic Resin Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• Packaging

• Printing Inks

• Pipes & Hoses

• Sheets & Films

• Paints & Coatings

• Adhesives & Sealants

• Electronic Fabrications

• Transportation Components

• Other Applications

Synthetic Resin End Use Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• Transportation

• Food & Beverage

• Personal Care & Cosmetic

• Building & Construction

• Oil & Gas

• Electrical & Electronics

• Other End Uses

Synthetic Resin Regional Outlook (Volume, Million Tons; Revenue, USD Billion, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in the Synthetic Resin Market

• BASF SE

• SABIC

• Covestro AG

• Mitsubishi Chemical Group Corporation

• LG Chem

• Sumitomo Chemical Co., Ltd.

• Arkema S.A.

• DSM-Firmenich

• Dow Inc.

• DuPont de Nemours, Inc.

• Westlake Chemical Corporation

• Hexion Inc.

• Huntsman Corporation

• Ashland Global Holdings Inc.

• Ingevity

• AOC, LLC

• Reichhold LLC