The worldwide production of plastics reached 413.8 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 33 percent of global production. Over recent years, China produced an average of approximately nine million metric tons of plastic products each month. The rest of Asia ranks second worldwide in terms of plastic production, with a share of 19 percent in 2023.

In 2023, the global plastics market was valued at 712 billion U.S. dollars. The plastics market is projected to grow in the coming years to reach a value of more than 1,050 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 413.8 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 20 billion U.S. dollars by 2026.

BCC Research Market Report says global market volume for plastics production is estimated to increase from 428.7 million metric tons in 2023 to reach 579.2 million metric tons by 2028.

The Vietnam Plastic Market report segments the industry into Type (Traditional Plastics, Engineering Plastics, Bioplastics), Technology (Blow Molding, Extrusion, Injection Molding, Other Technologies), and Application (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Housewares, Furniture and Bedding, Other Applications). Get five years of historical trends and future forecasts.

The global plastic market is projected to attain a valuation of USD 768.9 billion in 2025 and is expected to reach USD 1138.9 billion by 2035, expanding at a CAGR of 4% during the forecast period.

Metric	Value
Industry Size (2025E)	USD 768.9 billion
Industry Value (2035F)	USD 1138.9 billion
CAGR	4%

Country-wise Analysis

Countries	Estimated CAGR
United States	4.0%
United Kingdom	3.0%
Germany	3.2%
France	2.8%
Italy	2.4%
South Korea	3.8%
Japan	2.2%

The India Plastic Industry market report segments the industry into By Type (Traditional Plastics, Engineering Plastics, Bioplastics), By Technology (Blow Molding, Extrusion, Injection Molding, Other Technologies), and By Applicatiopn (Packaging, Electrical and Electronics, Building and Construction, Automotive and Transportation, Housewares, Furniture and Bedding, Other Applications).

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 forecast to increase by USD 190.6 billion at a CAGR of 5.5% between 2024 and 2029.

The market is experiencing significant shifts driven by expanding manufacturing capacity, the rising popularity of recycled plastics, and stringent regulations over usage. The industry's growth is underpinned by increasing demand for plastics in various sectors, leading to an expansion of manufacturing capacity. In particular, the packaging industry continues to be a major contributor to the market's growth, as it seeks to meet the rising demand for lightweight, cost-effective, and convenient packaging solutions. Another key trend influencing the market is the growing acceptance and use of recycled plastics. As environmental concerns become increasingly important, companies are turning to recycled plastics as a more sustainable alternative to virgin materials. This shift is expected to gain further momentum as regulations over single-use plastics become more stringent, driving the need for innovative recycling solutions. However, the market also faces challenges. One major obstacle is the implementation of stringent regulations over the usage of plastics. Governments and regulatory bodies are imposing restrictions on the production and use of certain types of plastics, particularly those that contribute significantly to environmental pollution. Companies must navigate these regulations carefully to ensure compliance and maintain their market position. Another challenge is the availability and cost of raw materials, which can significantly impact profitability. As the demand for plastics continues to grow, companies must find ways to mitigate these challenges and capitalize on the opportunities presented by the market.

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

Request Free SampleThe market continues to evolve, with dynamic market dynamics shaping its applications across various sectors. Barrier properties remain a key focus, as eco-friendly plastics gain traction in response to growing concerns over carbon footprint and sustainability metrics. Bio-based plastics, such as those derived from renewable resources, offer heat resistance and chemical resistance, making them suitable for food and beverage packaging and consumer goods. Plastic waste and pollution are pressing issues, driving innovation in recycling processes. Mechanical and chemical recycling methods are being explored to increase recycling rates and reduce the need for virgin materials. Energy recovery from plastic waste through processes like plastic to fuel and plastic to oil is another emerging trend. Heat resistance and surface finish are crucial considerations for industrial goods, with applications in automotive, construction, and electronics. Lightweight materials, such as those used in additive manufacturing and blow molding, are also gaining popularity due to their energy efficiency and reduced carbon footprint. The circular economy is a driving force in the plastic industry, with a focus on reducing waste and promoting the reuse and recycling of materials. Eco-friendly plastics, compostable plastics, and biodegradable plastics are key components of this approach, as they offer a more sustainable alternative to traditional plastic products. The market's continuous evolution is shaped by ongoing research and development efforts, as well as changing consumer preferences and regulatory requirements. The integration of advanced technologies, such as 3D printing and rotational molding, is also contributing to the industry's growth and innovation.

How is this Plastic Industry segmented?

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. TechniqueInjection moldingBlow moldingRoto moldingCastingOthersApplicationPackagingConsumer goodsAutomotiveElectrical and electronicsOthersProduct TypePolyethylene (PE)Polypropylene (PP)Polyurethane (PU)Polyvinyl chloride (PVC)OthersEnd-use IndustryConsumer GoodsIndustrialHealthcareTransportationGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaEgyptKSAOmanUAEAPACChinaIndiaJapanSouth AmericaArgentinaBrazilRest of World (ROW)

By Technique Insights

The injection molding segment is estimated to witness significant growth during the forecast period.Plastic injection molding is a versatile manufacturing technique, widely used for producing various parts and consumer goods due to its advantages over other methods. This process involves injecting molten plastic into a mold, allowing it to cool and solidify before being ejected as a finished product. Low-density polyethylene, commonly used in bottles, plastic bags, and wraps, is a prime example of this techni

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.

Total plastic industry shipments in the United States had a value of 548 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.

China accounted for 33 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 19 percent while North America held another 17 percent share of global plastic production. The total worldwide production of plastics surpassed 413 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 1.2 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 six and 12 million metric tons.

Graph and download economic data for Sectoral Output for Manufacturing: Plastics Product Manufacturing (NAICS 3261) in the United States (IPUEN3261T301000000) from 1988 to 2024 about plastics, NAICS, IP, production, manufacturing, and USA.

The demand for Automotive Plastic In BRIC Countries is expected to develop considerably, hitting USD 75.2 billion by 2024. From 2024 to 2034, the sales of automotive plastic in BRIC countries are predicted to accelerate at a strong CAGR of 6.9%. The adoption of automotive plastic in BRIC countries is forecasted to be worth USD 146.5 billion by 2034.

Attributes	Details
Demand Analysis (2024)	USD 75.2 billion
Demand Forecast (2034)	USD 146.5 billion
CAGR Estimation (2024 to 2034)	6.9%

Category-wise Insights

Leading Segment	Polypropylene
Segment Share (2024)	20.3%

Leading Segment	Interior Component
Segment Share (2024)	63.6%

Country-wise Outlook

Country	China
Forecasted CAGR (from 2024 to 2034)	8.0%

Country	India
Forecasted CAGR (from 2024 to 2034)	6.1%

Country	Brazil
Forecasted CAGR (from 2024 to 2034)	6.2%

Country	Russia
Forecasted CAGR (from 2024 to 2034)	5.6%

Scope of the Report

Attribute	Details
Estimated Valuation (2024)	US$ 75,188.30 million
Projected Valuation (2034)	US$ 146,530.26 million
Anticipated CAGR (2024 to 2034)	6.9%
Historical Analysis of Automotive Plastic in BRIC Countries	2019 to 2023
Demand Forecast for Automotive Plastic in BRIC Countries	2024 to 2034
Quantitative Units	Revenue in US$ million and CAGR from 2024 to 2034
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Key Countries Analyzed While Studying Opportunities in Automotive Plastic in BRIC Countries	Brazil Russia India China
Key Companies Profiled	BASF SE Bayer AG Braskem Dow Chemical Co. Faurecia Pvt. Ltd. Johnson Controls, Inc. Lear Corporation Magna International Inc. Reliance Industries Limited Visteon Corporation

Discover key trends shaping US Plastics Industry Analysis, Share & Forecast, featuring growth opportunities and future outlook, size at USD 90.12 bn in 2023.

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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?

To Unlock the Biodegradable Plastics Market Size for 2022 and Other Important Statistics, Download the Free Report Sample!

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?

For more insights on the market share of various regions Request for a FREE sample now!

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?

To gain further insights on the market contribution of various segments Request for a FREE sample

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 Plasti

The global recycled plastic market is set to grow from US$ 64.4 billion in 2025 to US$ 120.1 billion by 2032, with a CAGR of 9.3% during the forecast period

The Electronics & Consumer Goods Plastics Market Share size and share are expected to exceed USD 483.29 billion by 2034, with a compound annual growth rate (CAGR) of 38.3% during the forecast period.

The Southeast Asia plastics industry is poised for steady growth over the next decade, driven by robust demand from key end-use sectors such as packaging, automotive, and construction. With a market size of XX million in 2025, the industry is projected to expand at a CAGR of 4.00% during the forecast period of 2025-2033, reaching a valuation of XX million by 2033. Economic growth, rising disposable incomes, and increasing population in the region are major factors contributing to the growing demand for plastics. The use of plastics in lightweight automotive components, durable construction materials, and advanced packaging solutions is expected to fuel market growth. Government initiatives promoting sustainability and circular economy practices are also creating opportunities for bioplastics and recyclable plastics, driving innovation in the industry. 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.

Expert industry market research on the Laminated Plastics Manufacturing in the US (2005-2030). Make better business decisions, faster with IBISWorld's industry market research reports, statistics, analysis, data, trends and forecasts.

The Medical Plastic Market estimated size and share is projected to exceed USD 64.24 billion by 2034, with a forecasted CAGR of 7.2% during the period.