Apr 11, 2019   SOURCE: BusinessWire

$569+ Billion Plastic Materials & Resins Market - Global Opportunities & Strategies to 2022 - ResearchAndMarkets.com

The "Plastic Materials And Resins Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.

This report describes and evaluates the global plastic materials and resins market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.

The global plastic materials and resins market size reached a value of nearly $490.5 billion in 2018, having declined at a compound annual growth rate (CAGR) of -0.4% since 2014, and is expected to grow at a CAGR of 3.8% to nearly $569.3 billion by 2022.

Growth in the historic period resulted from the increased demand for industrial packaging products, growth of key end-use markets for plastics, and technological developments. Factors that negatively affected growth in the historic period were environmental concerns over plastics, and changes in regulations.

Going forward, new developments in packaging, and growth in emerging markets will drive growth. Factors that could hinder the growth of the plastic material and resins market in the future are price pressures in the industry due to the increasing raw material prices, and reductions in free trade.

The market is segmented by product type into polypropylene, high-density polyethylene (HDPE), low-density polyethylene (LDPE), poly-vinyl chloride, polyethylene terephthalate (PET), polyurethane, polystyrene, and others. The others segment, which includes acrylic polymers, polyethers, polyamide, epoxide resins, amino resins, polycarbonates, elastomeric resins and fluro polymers, accounted for the largest share of the plastic materials and resins market in 2018 at 39.4% or $193.04 billion. The polyurethane segment is expected to be the fastest-growing segment going forward at a CAGR of 4.9%.

Asia-Pacific is the largest market for plastic materials and resins, accounting for 50.1% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Africa and the Middle East will be the fastest growing regions in the plastic materials and resins market, where growth will be at CAGRs of 7.8% and 5.2% respectively.

Growth of the plastic materials and resins market in Africa and the Middle East can be attributed to the expected growth in the demand for plastic materials and resins from the packaging and transportation manufacturing industries in these regions. These will be followed by North America and Asia-Pacific where the markets are expected to grow at CAGRs of 4.1% and 3.8% respectively.

The market for plastic materials and resins is relatively fragmented with a large number of small entities with minor shares. Players in the market include LyondellBasell Industries, Total SA, Ineos AG, Formosa Plastics Group, and Covestro AG.

The global chemicals market, of which the plastic materials and resins market is a segment, reached a value of nearly $3,357.7 billion in 2018, having grown at a CAGR of 0.9% since 2014, and is expected to grow at a CAGR of 5.5% to nearly $4,153.1 billion by 2022.

The plastic materials and resins market is the second largest segment of the chemicals market accounting for 14.6% of the chemicals market. The soap and cleaning compounds segment, and the toiletries segment are expected to be the fastest growing segments in the chemicals market, both growing at a CAGR of 9.8% during 2018-2022.

The top opportunities in the global plastic materials and resins market will arise in the others segment (which includes acrylic polymers, polyethers, polyamide, epoxide resins, amino resins, polycarbonates, elastomeric resins, and fluro polymers), which will gain $31.83 billion of global annual sales by 2022.

The plastic materials and resins market size will gain the most in China at $15.61 billion. Plastic materials and resins market-trend-based strategies include focusing on the development of environmentally-friendly materials and increasing the use of recycled plastic products as raw materials. Player-adopted strategies in the plastic materials and resins industry include expanding the businesses through sustainable investments and expanding into emerging markets.

Scope

  • Markets Covered: Polyurethane, High-Density Polyethylene, Low-Density Polyethylene, Polypropylene, Polystyrene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Others
  • Companies Mentioned: LyondellBasell Industries Holdings BV, Total SA, Ineos AG, Formosa Plastics Corp, Covestro
  • Time series: Five years historic and forecast
  • Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
  • Data segmentations: country and regional historic and forecast data, market share of competitors, market segments

Companies Mentioned

  • A. Schulman Inc.
  • Ashland Global Holdings
  • BASF SE
  • Covestro AG
  • Cytec
  • DIC Covestro Polymer Ltd.
  • Formosa Plastics Group
  • Ineos AG
  • LyondellBasell Industries N.V.
  • NAKAN
  • Solvay S.A.
  • Total S.A.
  • Westlake Chemical Corporation

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