In 2023, the global plastics market was valued at *** billion U.S. dollars. The plastics market is projected to grow in the coming years to reach a value of more than ***** billion U.S. dollars by 2033, registering a CAGR of four percent during the forecast period of 2023 to 2033. Plastic production has soared in recent decades Global plastics production amounted to ***** million metric tons in 2023, representing an increase on the previous year. Global plastic production has more than doubled since the turn of the century and is set to continue growing due to rising populations, increased buying power, and further demands for plastic goods. Sustainable plastics demand Plastics have been a ubiquitous part of modern life for some time. However, there have been growing concerns over its environmental impacts in recent years. This has resulted in an increased demand for more eco-friendly materials – such as biodegradable plastics. The global biodegradable plastics market is projected to reach a value of more than ** billion U.S. dollars by 2026.

The Vietnam Plastics Market Report is Segmented by Type (Traditional Plastics, Engineering Plastics, and Bioplastics), Technology (Blow Molding, Extrusion, Injection Molding, and Other Technologies), Application (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Housewares, Furniture and Bedding, and Other Applications). The Market Forecasts are Provided in Terms of Volume (Tons).

The global plastic market size is projected to grow from USD 691.31 billion in 2025 to USD 953.40 billion by 2033, exhibiting a CAGR of 4.1%.
Report Scope:

The plastic market is projected to grow from USD 768.9 billion in 2025 to USD 1,138.2 billion by 2035, at a CAGR of 4.0%.

The worldwide production of plastics reached ***** million metric tons in 2023. The versatility of this group of materials accounts for the continued growth in production year after year. In tandem with that growth, the market value of plastics also continues to grow. What plastics are and how they are made Plastics are used in a wide variety of products and have displaced other materials – such as wood, metal, and glass – that were previously used for the applications that plastics now dominate. One of the main applications for plastics use is plastic packaging. The production of plastic requires four basic steps: the acquirement of raw material, synthesizing a basic polymer, compounding the polymer into a usable fraction, and lastly, molding or shaping the plastic. Leading plastic producers Asia was the largest plastics producer in the world in 2023. That year, the country accounted for ** percent of global production. Over recent years, China produced an average of approximately **** million metric tons of plastic products each month. The rest of Asia ranks second worldwide in terms of plastic production, with a share of ** percent in 2023.

The plastics market size is recorded to be USD 619.34 billion in 2024 and is expected to reach USD 985.7 billion by 2035, at a CAGR of 4.315%

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Plastic Market Size 2025-2029

The plastic market size is valued to increase USD 190.6 billion, at a CAGR of 5.5% from 2024 to 2029. Focus on expanding manufacturing capacity will drive the plastic market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 52% growth during the forecast period.
By Technique - Injection molding segment was valued at USD 247.20 billion in 2023
By Application - Packaging segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 56.97 billion
Market Future Opportunities: USD 190.60 billion
CAGR : 5.5%
APAC: Largest market in 2023

Market Summary

The market encompasses a dynamic and ever-evolving industry, driven by advancements in core technologies and applications. Notably, the adoption of automation and robotics in plastic manufacturing continues to rise, increasing production efficiency and reducing costs. Meanwhile, the use of plastics in various applications, such as packaging, construction, and automotive, remains a significant growth area. However, the market faces challenges from stringent regulations over plastic usage and the increasing popularity of recycled plastics.
According to recent data, recycled plastics accounted for over 20% of global plastic production in 2020, underscoring the industry's shift towards sustainability. As manufacturing capacity expands and regulations evolve, the market presents both opportunities and challenges for stakeholders.

What will be the Size of the Plastic Market during the forecast period?

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How is the Plastic Market Segmented and what are the key trends of market segmentation?

The plastic industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Technique

  Injection molding
  Blow molding
  Roto molding
  Casting
  Others


Application

  Packaging
  Consumer goods
  Automotive
  Electrical and electronics
  Others


Product Type

  Polyethylene (PE)
  Polypropylene (PP)
  Polyurethane (PU)
  Polyvinyl chloride (PVC)
  Others


End-use Industry

  Consumer Goods
  Industrial
  Healthcare
  Transportation


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Technique Insights

The injection molding segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of applications and technologies, with plastic-to-fuel conversion and biodegradable plastics being key areas of focus. Biodegradable plastics, derived from renewable resources, align with circular economy models, reducing waste and promoting sustainability. Material recovery facilities play a crucial role in plastic recycling, employing techniques such as polypropylene recycling and compostable plastics production. The plastic recycling infrastructure continues to evolve, with advanced recycling technologies like depolymerization and waste-to-energy conversion gaining traction. Gasification of plastics and bio-based polymers are also emerging solutions for plastic pollution mitigation. Polymer degradation and bioplastic production methods are under constant development, with mechanical recycling methods like polyethylene terephthalate (PET) and polyvinyl chloride (PVC) recycling leading the way.

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The Injection molding segment was valued at USD 247.20 billion in 2019 and showed a gradual increase during the forecast period.

Three-dimensional printing filaments, derived from recycled plastics, are revolutionizing manufacturing processes. Chemical recycling processes, such as plastic pyrolysis, offer an alternative to traditional recycling methods. Plastic waste sorting and management are essential components of a comprehensive waste management strategy, ensuring efficient and effective processing. The market is characterized by continuous innovation, with new techniques and technologies emerging regularly. For instance, enzymatic degradation and plastic additive manufacturing are promising developments in the field. Low-density polyethylene (LDPE) and high-density polyethylene (HDPE) remain popular choices for various industries due to their versatility and cost-effectiveness. According to recent studies, the plastic recycling market is expected to grow by 12.5% in the next year, driven by increasing environmental concerns and government regulations.

Furthermore, the market is projected to expand by 15% over the next five years, as b

The North America Engineering Plastics Market Report is Segmented by Resin Type (Fluoropolymer, Liquid Crystal Polymer, Polyamide, Polybutylene Terephthalate, Polyether Ether Ketone, Polymethyl Methacrylate, and More), End-User Industry (Automotive, Building and Construction, Electrical and Electronics, and More), and Geography (United States, Canada, and Mexico). The Market Forecasts are Provided in Terms of Volume (Tons).

India Plastic Industry Report Segments the Industry Into Polymer Type (Polyethylene, Polypropylene, and More), by Specialty and Bioplastics Type (Biodegradable Bioplastics, Bio-Based Non-Biodegradable Plastics), by Processing Technology (Injection Molding, Blow Molding, and More), and by Application (Packaging, Automotive and Transportation, and More). The Market Forecasts are Provided in Terms of Value (USD).

The automotive plastic market in BRIC countries-Brazil, Russia, India, and China-is set to grow from USD 80.4 billion in 2025 to USD 155.9 billion by 2035, reflecting a compound annual growth rate (CAGR) of 6.9%.

Analysis of BRIC Automotive Plastics Industry by Country

The Engineering Plastics Market Report is Segmented by Resin Type (Fluoropolymer, Liquid Crystal Polymer, Polyamide, Polybutylene Terephthalate, Polycarbonate, and More), End-User Industry (Aerospace, Automotive, Building and Construction, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons) and Value (USD).

Total plastic industry shipments in the United States had a value of *** billion U.S. dollars in 2022. This represents an increase from the previous year. Texas accounts for the largest share of plastics industry shipments in the United States.

The size of the Southeast Asia Plastics Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.00">> 4.00% during the forecast period. Recent developments include: The recent developments pertaining to the major players in the market are being covered in the complete study.. Key drivers for this market are: Rising Demand from Food and Beverage Packaging, Rapid Increase in the Downstream Processing Capacity Additions; Other Drivers. Potential restraints include: Rising Demand from Food and Beverage Packaging, Rapid Increase in the Downstream Processing Capacity Additions; Other Drivers. Notable trends are: Injection Molding Technology to Dominate the Market.

Biodegradable plastics had a market value amounting to approximately *********** U.S. dollars in 2022. This figure is forecast to increase to nearly *** billion U.S. dollars by 2028. Biodegradable plastics are expected to help to mitigate the environmental pressures associated with conventional, single use plastics, though biodegradable plastics have a few shortcomings as well. The leading end-use sector of biodegradable plastics is packaging, both flexible and rigid.

The global medical plastics market size was valued at USD 41.40 billion in 2020, and it is projected to reach USD 64.25 billion by 2030, exhibiting a CAGR of 5.00% during the forecast period (2023-2030). The market growth is attributed to the rising demand for medical devices, increasing prevalence of chronic diseases, growing healthcare expenditure, and technological advancements in the healthcare industry. The key market drivers include the increasing demand for surgical instruments, disposables, diagnosis instruments, sterilization trays, and anesthetic and imaging equipment. The trend towards personalized and targeted therapies is driving the development of new medical devices, which in turn is increasing the demand for medical plastics. The adoption of advanced technologies such as 3D printing, microfluidics, and nanotechnology is further fueling the market growth. Additionally, the growing awareness of infection control and the need for high-quality medical devices are contributing to the market expansion. Key drivers for this market are: , Increasing Demand for Medical Devices from the Asia-Pacific Region; Expanding Prosthetics Market. Potential restraints include: , Increasing Demand for Medical Devices from the Asia-Pacific Region; Expanding Prosthetics Market. Notable trends are: Surgical Instruments Application to Dominate the Market.

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Commodity Plastics Market Size 2024-2028

The commodity plastics market size is forecast to increase by USD 189.5 billion, at a CAGR of 6.78% between 2023 and 2028.

Major Market Trends & Insights

APAC dominated the market and accounted for a 36% growth during the forecast period.
By the Product - Polyethylene segment was valued at USD 109.80 billion in 2022
By the End-User - Packaging segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 82.57 billion
Market Future Opportunities: USD 189.50 billion
CAGR : 6.78%
APAC: Largest market in 2022

Market Summary

The market experiences continuous evolution, driven by advancements in technology and shifting consumer preferences. The market is experiencing significant growth due to the increasing demand for packaging materials. According to recent studies, the global plastic packaging market is anticipated to reach a value of USD 530 billion by 2027, growing at a steady pace. This expansion is due to the increasing demand for lightweight, durable, and cost-effective packaging solutions across various industries, including food and beverage, pharmaceuticals, and cosmetics. Moreover, recycling techniques have gained significant traction, with an estimated 30% of plastic waste being recycled in 2020.
This trend is expected to continue, as companies seek to reduce their environmental footprint and comply with stringent regulations regarding plastic usage. The market's dynamism is further reflected in the development of biodegradable and compostable plastics, which offer sustainable alternatives to traditional materials. Overall, the market presents numerous opportunities for growth and innovation, as businesses adapt to evolving consumer demands and regulatory requirements.

What will be the Size of the Commodity Plastics Market during the forecast period?

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The market encompasses the production, processing, and application of various polymer materials. With a global production volume of over 300 million metric tons annually, it is a significant contributor to the manufacturing sector. Notably, plastic recycling has emerged as a crucial aspect of the market, with an estimated 30% of plastic waste being recycled each year. This figure underscores the importance of adhering to stringent recycling standards and advanced plastic waste stream management. Polymer compounding, a key process in the plastics industry, involves the addition of various additives to enhance the properties of base polymers.
For instance, the use of rheological properties modifiers can improve the flow behavior of molten polymers during processing. In contrast, polymer characterization techniques, such as chromatographic separation and spectroscopic analysis, are essential for understanding the molecular structure and composition of plastics. This knowledge facilitates the development of sustainable plastics and the optimization of plastic part design. The ongoing evolution of plastics technology encompasses various processes, including plastic pyrolysis, gasification, and depolymerization, all aimed at enhancing plastic energy recovery and reducing waste.

How is this Commodity Plastics Industry segmented?

The commodity plastics industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Polyethylene
  Polypropylene
  Polyvinyl chloride
  Polyethylene terephthalate


End-User

  Packaging
  Consumer goods
  Electronics
  Automotive
  Others


Application

  Films and Sheets
  Pipes and Fittings
  Automotive Components
  Household Products


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The polyethylene segment is estimated to witness significant growth during the forecast period.

Polyethylene (PE), a versatile thermoplastic, is extensively used in various industries due to its lightweight, durability, and crystalline structure. It is the second most widely produced plastic globally, with packaging being a significant application. PE packaging, which involves enclosing products for protection, storage, distribution, and sales, utilizes high-density polyethylene (HDPE) and low-density polyethylene (LDPE) as primary materials. Polyethylene's production process involves the chemical synthesis of ethylene. This thermoplastic is further categorized into HDPE, LDPE, and linear low-density

The United States Engineering Plastics Market Report is Segmented by Resin Type (Fluoropolymer, Liquid Crystal Polymer, Polyamide, Polybutylene Terephthalate, Polycarbonate, and More), End-User Industry (Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging, Other End-User Industries). The Market Forecasts are Provided in Terms of Volume (Tons) and Value (USD).

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The biodegradable plastics market share should rise by 2113.31 thousand tons from 2022 to 2026 at a CAGR of 22.07%.

This biodegradable plastics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (packaging, consumer goods, textile, agriculture, and others) and geography (Europe, North America, APAC, South America, and MEA). The biodegradable plastics market report also offers information on several market vendors, including BASF SE, Biome Bioplastics Ltd., Cargill Inc., Danimer Scientific, FKuR Kunststoff GmbH, Mitsubishi Chemical Holdings Corp., Novamont SpA, Plantic Technologies Ltd., Toray Industries Inc., and Total Corbion PLA BV among others.

What will the Biodegradable Plastics Market Size be in 2022?

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Biodegradable Plastics Market: Key Drivers and Trends

The rise in consumer adoption of biodegradable plastics is notably driving the biodegradable plastics market growth, although factors such as higher prices of biodegradable plastics than conventional plastics may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the biodegradable plastics industry. The holistic analysis of the drivers will help in predicting end goals and refining marketing strategies to gain a competitive edge.

This biodegradable plastics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Biodegradable Plastics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

BASF SE
Biome Bioplastics Ltd.
Cargill Inc.
Danimer Scientific
FKuR Kunststoff GmbH
Mitsubishi Chemical Holdings Corp.
Novamont SpA
Plantic Technologies Ltd.
Toray Industries Inc.
Total Corbion PLA BV

The vendor landscape of the biodegradable plastics market entails successful business strategies deployed by the vendors. The biodegradable plastics market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the biodegradable plastics market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Biodegradable Plastics Market?

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37% of the market’s growth will originate from Europe during the forecast period. Germany, UK, and France are the key markets for biodegradable plastics in Europe.

The report offers an up-to-date analysis of the geographical composition of the market. Europe has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. The high demand for biodegradable and compostable plastic in food packaging applications will facilitate the biodegradable plastics market growth in Europe over the forecast period. The report offers an up-to-date analysis of the geographical composition of the market, competitive intelligence, and regional opportunities in store for vendors.

What are the Revenue-generating End-user Segments in the Biodegradable Plastics Market?

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The biodegradable plastics market share growth by the packaging segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2022-2026 and embrace technologies to improve business efficiency.

This report provides an accurate prediction of the contribution of all the segments to the growth of the biodegradable plastics market size. Furthermore, our analysts have indicated actionable market insights on post COVID-19 impact on each segment, which is crucial to predict change in consumer demand.

    Biodegradable Plastics Market Scope




    Repo

China accounted for ** percent of global plastic materials production in 2023, making it the world's largest plastic producer by far. The rest of Asia accounted for an additional ** percent while North America held another ** percent share of global plastic production. The total worldwide production of plastics surpassed *** million metric tons in 2023. Plastic: the material to replace many Plastics are used in almost every segment of life – from everyday life to industrial applications. On a global level, plastics have displaced many traditional materials, such as wood, stone, horn and bone, leather, paper, metal, glass, and ceramic. Global plastics use is projected to continue rising over the coming decades to reach more than *** billion metric tons by 2060. China: the plastic leader As the leading manufacturing economy and exporter of goods in the world, it is not surprising that China is the world’s largest producer of plastic as well. China's monthly production of plastics ranges between *** and ** million metric tons.

The Plastics Market size is expected to reach a valuation of USD 938.5 Billion in 2033 growing at a CAGR of 4.5%. The Plastics market research report classifies market by share, trend, demand, forecast and based on segmentation.