Market Research Report

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Plastics Market - A Global and Regional Analysis

Focus on Product Types, Molding Types and Their Applications, and Countries - Analysis and Forecast, 2020-2025

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The plastics market was estimated at $621.9 Billion in 2019 and is expected to grow at a CAGR of 3.37% during the forecast period, 2020-2025.

Several industries for which plastics can be used for a variety of applications include packaging, building and construction, electrical and electronics, consumer goods, automotive, others. the others segment further includes industries such as agriculture, medical, and textile.      

Factors driving the growth of the plastics market include increasing demand from the packaging industry, high utility across every industry, emergence of renewable and bio-based raw materials, increasing demand for long fiber polypropylene compound, and regulatory push in adoption of lightweight materials.

Trends influencing the plastics market include replacement of various materials by plastics, development of new bio-based and biodegradable plastics, and demand for materials that do not require paint processing.

Some of the major players operating in the market include The Dow Chemical Company, BASF S.E., Arkema S.A., LyondellBasell Industries N.V., INEOS, Lanxess AG, MBA Polymers Inc., Koninklijke DSM N.V., Novamont S.p.A., Evonik Industries AG, Neste Oyj, Royal Dutch Shell, and Formosa Plastics, among others.