The Business Research Company’s plastic material and resins global market report, covers the year-on-year growth of the global plastic material and resins market historic and forecast growth. It also includes chapters on the plastic material and resins market trends, geographical analysis, and competitive landscape.
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The global plastic material and resins market size is expected to reach $500 billion by 2022, significantly growing at a CAGR of around 4.5% during the forecast period.
plastic material and resins market trends
The plastic material and resins market consist of the sales of plastic material and resins by entities (organizations, sole traders or partnerships) that produce resins, plastic materials, and no vulcanizable thermoplastic elastomers and mix and blend resins on a custom basis and/or produce no customized synthetic resins.
The world population is increasingly becoming aware about the adverse impact of plastic materials on the environment. This has led to a rapid increase in demand for eco-friendly plastics: bioplastics that are manufactured from polymer resins derived from plants and plastics that can be decomposed with the help of bacteria. For instance, global bio plastics production capacity is estimated to be around 6.2 million tons in 2017 and the global market for bio plastics and biopolymers is expected to be around $5.0 billion in 2022, thus indicating high demand for eco-friendly plastic products.
The global plastic material and resins market is primarily driven by rise in disposable income, growing population, new development in packaging and technological development.
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The global plastic material and resins market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increase in growth of key end-use markets for plastics and increased demand for industrial packaging products, the global plastic material and resins market is expected to increase in potential and scope. TBRC’s report also covers the plastic material and resins drivers and restraints in the market.
The global plastic material and resins market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global plastic material and resins market report are LyondellBasell Industries, Dow Chemical Company, BASF SE, Bayer Material Science, Total SA.
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