The global plastics market accounted for $621.9 billion in 2019 and is expected to reach $758.6 billion by 2025. The market is anticipated to grow at a CAGR of 3.37% during the forecast period 2020-2025.
The market growth is mainly attributed to the rising number of applications for plastics, increasing adoption and awareness rates of bio-plastics and recycled plastics, and heavy investments made in the research and development of bio-based plastic products and solutions. In addition, governments are coming up with policies and laws to encourage the development and usage of bioplastics in a transparent manner, which is expected to drive market growth during the forecast period.
COVID-19 has hit the plastics industry hard in terms of import of raw-material, transportation, and in maintaining a smooth supply-demand. The unavailability of sufficient raw material has created an imbalance in supply for medium-scale manufacturers as well as small-scale and medium-scale end users. Moreover, the price imbalance created in the oil and gas sector due to COVID-19 resulted in volatility in petroleum-based plastic prices.
The global plastics market is mainly attributed due to the increased demand for plastic in packaging products such as bottles, films, containers, among others. Additionally, the implementation of government laws and regulations across the globe limits the production and plastics.
Moreover, in several countries such as Germany, the U.S., and Canada, laws regarding the ban on single-use plastics have also been implemented, thereby discouraging the demand for plastics on a global scale. The increasing emphasis on advanced and innovative technologies and products in the plastics industry, such as bio-based plastics and recycled plastics, creates several opportunities for the manufacturers to expand their revenue stream and product portfolios.
Companies across the globe are looking for ways to maintain their relevance in this ever-changing plastics industry. Further, leading conventional plastic manufacturers and bio-based plastic manufacturing companies, to stay relevant in this industry, are planning to increase production as well as the import of the same.
This report is a good compilation of research on more than 25 players in the global plastics market. It draws upon the insights from in-depth interviews with key opinion leaders of more than 20 leading companies, market experts, and vendors. The report also profiles 22 suppliers and key ecosystem participants in the plastics market. BASF SE, ExxonMobil Corporation and LyondellBasell Industries N.V. are some of the leading players profiled in the market study.
Continuous product expansions (launches and enhancements) are some of the business strategies executed in the plastics market.
Several companies, including BASF SE, Lanxess AG, LyondellBasell Industries N.V., and INEOS have been involved in product launches and enhancements.
Key Topics Covered:
1 Markets 1.1 Industry Outlook 1.1.1 Trends: Current and Future 1.1.2 Supply Chain Network 1.1.3 Industry Attractiveness 1.1.4 Ecosystem/Ongoing Programs 1.1.5 Supply and Demand Analysis 1.2 Business Dynamics 1.2.1 Business Drivers 1.2.2 Business Challenges 1.2.3 Business Strategies 1.2.4 Corporate Strategies 1.2.5 Business Opportunities
2 Application 2.1 Global Plastics Market - Based on Application (End-use) 2.1.1 Packaging 2.1.2 Building and Construction 2.1.3 Electrical and Electronics 2.1.4 Consumer Goods 2.1.5 Automotive 2.1.6 Others (Agriculture, Medical, Textile) 2.2 Plastics Market - Demand Analysis (By Application) 2.2.1 Global Plastics Demand (by Application), Value and Volume Data
3 Products 3.1 Global Plastics Market - Based on Resin Type and Molding Type 3.1.1 Global Plastics Market (by Resin Type) 3.1.2 Global Plastics Market (by Molding Type) 3.2 Plastics Market - Demand Analysis (By Product) 3.2.1 Global Plastics Demand (by Product), Value and Volume Data 3.3 Plastics Market - Demand Analysis (By Molding) 3.3.1 Global Plastics Demand (by Molding), Value and Volume Data
4 Region 4.1 North America 4.1.1 Market 4.1.2 Applications 4.1.3 Products 4.1.4 North America (by Country) 4.2 South America 4.2.1 Market 4.2.2 Applications 4.2.3 Products 4.2.4 South America, Central America, and Caribbean (by Country) 4.3 Europe 4.3.1 Market 4.3.2 Applications 4.3.3 Products 4.3.4 Europe (by Country) 4.3.5 Belgium 4.4 U.K. 4.4.1 Market 4.4.2 Applications 4.4.3 Products 4.5 Middle East and Africa 4.5.1 Market 4.5.2 Applications 4.5.3 Products 4.6 China 4.6.1 Market 4.6.2 Applications 4.6.3 Products 4.7 Asia-Pacific and Japan 4.7.1 Market 4.7.2 Applications 4.7.3 Products 4.7.4 Asia-Pacific and Japan (by Country) 4.7.5 India 4.7.6 South Korea 4.7.7 Rest-of-Asia-Pacific
5 Markets - Competitive Benchmarking & Company Profiles 5.1 Competitive Benchmarking 5.2 Company Profiles 5.2.1 The Dow Chemical Company 5.2.2 BASF SE 5.2.3 Arkema S.A. 5.2.4 LyondellBasell Industries N.V. 5.2.5 INEOS 5.2.6 Lanxess AG 5.2.7 MBA Polymers Inc. 5.2.8 Koninklijke DSM N.V. 5.2.9 Novamont S.p.A. 5.2.10 Evonik Industries AG 5.2.11 Neste Oyj 5.2.12Royal Dutch Shell 5.2.13 Formosa Plastics 5.2.14 LG Chem Ltd. 5.2.15 SABIC 5.2.16 ENI S.p.A. (Versalis) 5.2.17 Chevron Phillips Chemical Company, LLC 5.2.18 ExxonMobil Corporation 5.2.19 Borealis AG 5.2.20 Total SE 5.2.21 Sinopec 5.2.22 Braskem S.A. 5.2.23 Other Key Players