Plastics Market Analysis and Forecast by Products, Capacity Additions, Top Countries and Active and Upcoming Projects to 2030
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Plastics Market Report Overview
The plastics market has shown robust and consistent growth and is projected to record a healthy CAGR of 2% during 2024-2030. Constantly evolving lifestyles, the growth of the retail sector, and the increasing construction activities in emerging countries are the factors driving the plastics market growth. Asia continues to dominate global plastics consumption due to rapid economic growth in China, India, South Korea, and Japan.
Plastics Market Analysis by Regions, 2023 (%)
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The plastics market research report provides an in-depth analysis of the factors driving global plastics consumption. It provides comprehensive insights into the industry, including product and regional analysis. The report identifies the key petrochemical projects globally and lists the key upcoming projects as well.
CAGR | >2% |
Forecast Period | 2024-2030 |
Historical Period | 2015-2022 |
Key Countries | · China
· United States · India · South Korea · Germany |
Key Products | · Polyethylene
· Polypropylene · Polystyrene · Acrylonitrile Butadiene Styrene (ABS) · Polyvinyl Chloride (PVC) |
Key End Use Segments | · Packaging
· Construction · Consumer Goods · Automotive · Electrical · Agricultural |
Key Plastics Manufacturers | · Reliance Industries Ltd
· Oriental Energies Co Ltd · Haldia Petrochemical Corp · RusGazDobycha · China Petrochemical Corp |
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Plastics Market Segmentation by Countries
The key countries in the plastics market are China, the US, Saudi Arabia, South Korea, India, Germany, Taiwan, Japan, Thailand, and Russia, among others. China accounted for the highest share of the global plastics supply in 2023 and will continue to do so during the forecast period. This dominance is due to the rising domestic demand and accelerating industrial infrastructure. Additionally, the increasing construction activities in emerging countries such as China and India are expected to contribute to capacity growth in the region.
Plastics Market Analysis by Countries, 2023 (%)
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Plastics Market Segmentation by Products
The products in the plastics market are Polyethylene, Polypropylene, Polystyrene, Acrylonitrile Butadiene Styrene (ABS), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Expandable Polystyrene (EPS), and Polycarbonate. Polyethylene and Polypropylene accounted for around 63% of the global plastics market demand volume in 2023.
Polyethylene: The key types of polyethylene are high-density polyethylene (HDPE) and low-density polyethylene (LDPE). China led the demand for HDPE and LDPE followed by the United States and India in 2023. The country will remain the largest producer of HDPE.
Polypropylene: In 2023, China led the demand for polypropylene followed by the United States and India among the countries. The country was the largest importer of polypropylene, while Saudi Arabia was the largest exporter of polypropylene in 2022.
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Plastics Market Segmentation by End Use
The end use segments in the plastics market are packaging, construction, consumer goods, automotive, electrical, and agricultural, among others. In 2023, the packaging sector led the plastics market.
Packaging: The packaging sector leads the plastics market. The growing demand for convenient packaging will drive market value growth. Factors such as the surging e-commerce business coupled with the growing online food delivery market will bolster the growth of the market.
Plastics Market Analysis by End Use Segments, 2023 (%)
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Plastics Market – Key Upcoming Projects
Key plastics capacity additions are expected to be from leading companies including Reliance Industries Ltd, Oriental Energies Co Ltd, and Haldia Petrochemical Corp. The increasing construction activities in emerging countries such as China and India are expected to contribute to capacity growth in the region.
Key Upcoming Plastics Projects
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Segments Covered in the Report
Plastics Market Country Outlook (Value, mtpa, 2015-2030)
- China
- The US
- Saudi Arabia
- South Korea
- India
- Germany
- Taiwan
- Japan
- Thailand
- Russia
Scope
Plastics demand and supply analysis by key countries
Demand and supply analysis of Plastics by type
Upcoming capacity additions by key countries
Details of upcoming propylene projects
Reasons to Buy
- Obtain the most up-to-date market information on the global plastics market
- Identify opportunities in the global plastics industry with the help of key upcoming projects
- Facilitate decision-making based on strong historical and forecast of plastics capacity data
Table of Contents
Frequently asked questions
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What is the estimated growth rate of the plastics market from 2024-2030?
The market is expected to achieve a CAGR of more than 2% during 2023-2030.
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Which country accounted for the highest share of the global plastics supply in 2023?
China accounted for the highest share of the global plastics supply in 2023 and will continue to do so during the forecast period.
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Which is the key driver supporting the growth of the plastics market in the coming years?
The rising demand for packaging material from the food & beverage industry is the key driver supporting the growth of the plastics market over the forecast period.
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Which was the leading sector in the plastics market in 2023?
In 2023, the packaging sector led the plastics market.
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Which products garnered the highest share of the plastics market demand volume in 2023?
In 2023, Polyethylene and Polypropylene accounted for around 63% of the global plastics market demand volume.
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