The South America Engineering Plastics Market is segmented by End User Industry (Aerospace, Automotive, Building and Construction, Electrical and Electronics, Industrial and Machinery, Packaging), by Resin Type (Fluoropolymer, Liquid Crystal Polymer (LCP), Polyamide (PA), Polybutylene Terephthalate (PBT), Polycarbonate (PC), Polyether Ether Ketone (PEEK), Polyethylene Terephthalate (PET), Polyimide (PI), Polymethyl Methacrylate (PMMA), Polyoxymethylene (POM), Styrene Copolymers (ABS and SAN)) and by Country (Argentina, Brazil). Market Value in USD and Volume in tons are both presented. Key Data Points observed include volume of automobile production, new construction floor area, plastic packaging production volume, plastic resin production, imports and exports, and price of plastic resins.

South America Recycled Plastic market size is USD 3475.61 million in 2024 and will expand at a compound annual growth rate (CAGR) of 7.9% from 2024 to 2031.

Snapshot img

Molded Plastics Market Forecast 2024-2028

The molded plastics market size is forecast to increase by USD 228.31 billion, at a CAGR of 4.57% between 2023 and 2028. The market's growth rate hinges on various factors, notably the increasing demand for lightweight and high-performance plastics. This trend is further fueled by the rising preference for molded plastics in beverage packaging and the surging utilization of molded plastics in high-tech agricultural applications. These factors collectively contribute to the expansion of the market, as industries seek innovative solutions that offer durability, efficiency, and sustainability. With a growing emphasis on advanced materials across diverse sectors, the market is poised for significant advancement in the foreseeable future. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will be the Market Size During the Forecast Period?

Request Free Sample in PDF

Market Definition

Molded plastics refer to plastic materials that have been shaped into specific forms or products through the process of molding. This process typically involves heating plastic resins until they become molten, then injecting or pressing them into a mold cavity, where they cool and solidify into the desired shape. Molded plastics are used in a wide range of industries for various applications due to their versatility, durability, and cost-effectiveness.

To Know more about the market report Request Free Sample

Market Dynamics

The market is propelled by the demand across various sectors such as Building & Construction, Automotive & Transportation, and Packaging. The versatility of synthetically produced non-metallic compounds enables their use in diverse applications like Car Fascia, Packaging, and Plumbing. Trends indicate a growing preference for design flexibility, facilitating the production of intricate components like Bumpers, Grilles, and Panels. However, challenges persist, including competition from petrochemicals, evolving hygiene-related standards, and the need for sustainable solutions in injection and blow molding processes. These dynamics shape the landscape of the market. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Rising demand for molded plastics in beverage packaging is notably driving the market growth. The global beverage industry is experiencing steady growth owing to various factors like population growth, changing consumer preferences, rising disposable incomes, and urbanization. As consumers increasingly incorporate beverages into their daily routines, the demand for packaging solutions, such as molded plastic bottles, rises correspondingly. Changing consumer lifestyles is driving the demand for on-the-go beverage products among consumers. The rising demand for packaged beverages in developing countries, including India, China, Brazil, Vietnam, and South Africa, due to the rise in disposable incomes of consumers, is driving the growth of the global market. Additionally, it molded plastics find applications in various sectors such as building & construction, automotive & transportation, consumable & electronics, packaging, and medical industries.

Moreover, the beverage industry encompasses a wide range of categories, including carbonated soft drinks, bottled water, juices, sports and energy drinks, alcoholic beverages, dairy-based beverages, and functional beverages. Each category has unique packaging requirements, and it offers versatility in design, size, shape, and functionality to meet the diverse needs of beverage manufacturers. This, in turn, increases the demand in the beverage industry. Therefore, an increase in the demand for packaged beverages is expected to drive the growth of the market during the forecast period.

Significant Market Trends

Increasing demand for customization and personalization of molded plastics is an emerging trend shaping market growth. Manufacturers are leveraging advanced molding technologies and design capabilities to offer tailored solutions that meet specific customer requirements and preferences. From automotive components to consumer electronics and household products are being customized to enhance functionality, aesthetics, and user experience. This trend is driven by evolving consumer tastes, technological advancements, and the desire for unique, differentiated products in a competitive marketplace.

Additionally, customization offers opportunities for product innovation and value-added features, driving revenue growth and market expansion for manufacture

Latin America modified plastics market size is estimated at USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.

In 2022, Latin America's plastic production accounted for approximately four percent of the total global production of plastic materials, slightly down from a five-percent share recorded in 2014. The global production of plastics in 2022 amounted to 400 million metric tons.

The statistic shows the estimated value of the biodegradable plastics market in Latin America in 2018 and 2023. In 2018, the value was estimated at 1.3 billion U.S. dollars and it is expected to rise to 1.98 billion U.S. dollars by 2023.

The South America Molded Plastic market is reach a market size of more than USD 16 Billion by 2029, by rising investment in infrastructure and consumer goods.

The Latin America Plastic Packaging Films Market Report is Segmented by Type (Polypropylene (Biaxially Oriented Polypropylene (BOPP), Cast Polypropylene (CPP)), Polyethylene (Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE)), Polyethylene Terephthalate (Biaxially Oriented Polyethylene Terephthalate (BOPET)), Polystyrene, Bio-Based, and PVC, EVOH, PETG, and Other Film Types), by End-User Industry (Food [Candy and Confectionery, Frozen Foods, Fresh Produce, Dairy Products, Dry Foods, Meat, Poultry, Seafood, Pet Food, and Other Food Products (Seasonings and Spices, Spreadable, Sauces, Condiments, Etc. )], Healthcare, Personal Care and Home Care, Industrial Packaging, and Other End-User Industry Applications), by Country (Brazil, Mexico, Columbia, Rest of Latin America). The Market Sizes and Forecasts are Provided in Terms of Volume (tonnes) for all the Above Segments.

Snapshot img

Global Commodity Plastics Market Forecast 2024-2028

The commodity plastics market size is forecast to increase by USD 189.5 billion. The market is estimated to grow at a CAGR of 6.78% between 2023 and 2028. The market refers to the global trade and production of low-cost, widely used plastics. They are extensively used in packaging, consumer goods, automotive parts, and construction materials. The growth of this market depends on several factors, including increasing demand for packaging materials, increasing demand for commodity plastics from developing countries, and diverse applications of plastics. This market research and growth report includes key market drivers, trends, and challenges.

What will be the Size of the Commodity Plastics Market During the Forecast Period?

To learn more about this report, View Report Sample

Commodity Plastics Market Dynamics and Customer Landscape

Bio-based commodity plastics derived from renewable sources like plants and agricultural waste offer solutions for reducing carbon emissions and promoting waste reduction in a circular economy. Advanced technology, including sensors and QR codes, enhances the efficiency of pipes, fittings, and insulation materials for roofing, flooring, and structural components. These innovations ensure corrosion resistance and thermal and acoustic insulation while withstanding harsh environmental conditions. They play a critical role in healthcare infrastructure, minimizing the environmental impact of PVC and improving sustainability in construction.

Key Market Driver

Increasing demand for packaging materials has increased in various industries such as construction, healthcare, and consumer goods. Demand for flexible plastic packaging from hospitals, pharmaceuticals, and PPE manufacturers in the healthcare industry is expected to remain strong during the forecast period. There is a growing demand for plastics in medical equipment such as laboratory equipment, respirators, syringes, surgical trays, medical bags, and PPE such as masks, face shields, respirators, goggles, gowns, and gloves. This is due to increased health awareness and an increase in the number of COVID-19 cases. Demand for healthcare packaging materials is expected to remain stable during the forecast period. Increasing demand for packaging materials will drive the growth of the?market during the forecast period.?

Significant Market Trends

The growing recycling techniques?are a key trend influencing?the market growth. According to the World Economic Forum, at least 8 million tonnes of plastic enter the ocean each year. This is projected to increase to 2 times per minute by 2030 and 4 times per minute by 2050, with potential environmental impacts. Growing awareness of the environmental damage caused by polymers has led plastic manufacturers to develop recyclable products.

Initiatives taken by the manufacturers and end-users regarding the recycling of plastic products include?product packages and efforts to expand all existing recycling processess, innovative mobile near-infrared spectroscopy solutions for sorting and identifying different types of plastic waste, and chemical recycling.?Increasing efforts by companies in the?market to recycle plastic-based products will boost?market growth and trends during the forecast period.?

Major Market Challenge

The stringent regulations over the usage of plastics are challenging the market growth. Plastic pollution is one of the major environmental problems of the 21st century, causing widespread damage to ecosystems and human health. Also, the majority of manufactured?plastics are?derived from fossil fuels, contributing to climate change and, in turn, having a negative impact on the climate.?Various governments around the world have implemented various regulations on the use of plastics to reduce the impact of climate change. In the United States, the Food and Drug Administration (FDA) regulates the safety of packaging that comes into contact with food. Many are used in food packaging, such as polystyrene and polyethylene. The FDA has a strict approval process?for plastics?used in food contact packaging. The US FDA must approve these packaging materials before placing them on the market and consider them safe for use.

Moreover, the European Union's?single use plastic directive (SUPD) has also been implemented recently. The law aims to reduce plastic pollution and reduce plastic runoff in order to reduce its impact on the environment and human health. Certain single-use plastic items such as cotton swabs, cutlery (forks, knives, spoons, and chopsticks), plates, straws, stirrers, balloon sticks, oxo-degradable plastics and food containers and cups made from expanded polystyrene (EPS) are banned in the United States.?The directive also requires manufacturers to use 25% recycled content in PET beverage bottles by 2025 and 30% recycled content in all plastic

South America Food-grade recycled plastics market size is USD 26152.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.

Snapshot img

Automotive Plastics Market Size 2024-2028

The automotive plastics market size is forecast to increase by USD 13.2 billion at a CAGR of 3.2% between 2023 and 2028.

The market is experiencing significant growth due to several key trends. One of the primary drivers is the increasing demand for electric and mild hybrid vehicles, which require lightweight and fuel-efficient materials to improve performance and reduce emissions. Another trend is the high demand for complex design and engineering in vehicles, which is leading to an increased use of plastics in various components. Additionally, the need for improved fuel efficiency and reduced vehicle weight is fueling the adoption of plastics in automotive manufacturing. These trends are expected to continue, making the market a promising space for growth In the coming years.
Furthermore, the use of advanced materials such as high-performance plastics and engineering thermoplastics is also gaining traction due to their superior properties and cost-effectiveness. Overall, the market for automotive plastics is poised for growth, driven by these trends and the increasing demand for more sustainable and efficient solutions In the automotive industry.

What will be the Size of the Automotive Plastics Market During the Forecast Period?

Request Free Sample

The market is experiencing significant growth due to the increasing demand for lightweight and fuel-efficient auto parts. Mass reduction and emission reduction are key priorities for automakers to meet stringent environmental standards and regulatory requirements. New vehicle sales, particularly In the passenger car segment, are driving the market's expansion. The integration of plastics in vehicle manufacturing leads to improved fuel efficiency, making it an attractive solution for both consumers and manufacturers, especially with fluctuating fuel prices. Polymer technology, including polypropylene resin and polyvinyl chloride (PVC), is a primary focus for automotive plastics. These materials offer superior processing abilities and molding properties, enabling the production of intricate and complex vehicle components.
Injection molding is a common manufacturing process used to create these parts. Carbon emissions reduction is a significant trend In the automotive industry, with electric cars gaining popularity. However, the depletion of petrochemical reserves may impact the availability and affordability of raw materials for plastics production. IRGACycle Solutions and other companies are addressing the circular economy by developing recycling and reuse strategies for automotive plastics. Design innovation and safety standards continue to influence the market, with a growing emphasis on interior aesthetics and sustainability.

How is this Automotive Plastics Industry segmented and which is the largest segment?

The automotive 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.

Material

  Polypropylene
  Polyurethane
  Polyvinyl chloride
  Polyamide and others


Vehicle Type

  Passenger vehicle
  Commercial vehicle
  Electric vehicle


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany


  South America



  Middle East and Africa

By Material Insights

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

The automotive industry's shift towards lightweighting and emission reduction has led to an increased demand for polypropylene (PP), a versatile thermoplastic polymer. PP's lightweight properties enable mass reduction, improving fuel economy and reducing carbon emissions. This material is extensively used in vehicle production for parts like interior components, such as instrument panels, door panels, and consoles, offering design flexibility, dimensional stability, and durability. Additionally, PP is utilized in HVAC systems, air ducts, and other air management components due to its low density. Plastics, including PP, contribute to the production of lightweight vehicles, aligning with safety regulations and BS-VI norms. Polypropylene resin, such as IrgaCycle solutions, offers recycled content, enhancing sustainability.

This polymer's integration into powertrain systems, power systems, and electric vehicles (EVs) further supports the industry's transition towards alternative fuels and infrastructure development.

Get a glance at the Automotive Plastics Industry report of share of various segments. Request Free Sample

The polypropylene segment was valued at USD 23.10 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 46% to the growth of the globa

Brazil was the leading country in the Latin American blow molding plastics market in 2019, with a market value of 1.98 billion U.S. dollars. This was followed by Mexico, where the blow molding plastics market was valued at 1.15 billion U.S. dollars. The Latin blow molding plastics market had a value of 4.39 billion U.S. dollars in 2019, and is expected to increase to 5.45 billion U.S. dollars by 2027.

The Latin America Pharmaceutical Packaging Market Report is Segmented by Packaging Material (Plastics, Paper and Paperboard, Glass, Metal), by Product (Blister Packs, Plastic Bottles, Containers, Closures, Prefillable Syringes, Vials, and Ampoules, Closures, Containers), and by Country (Brazil, Mexico, Columbia, Argentina, Rest of Latin America). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Snapshot img

Compostable Plastic Market Size 2024-2028

The compostable plastic market size is forecast to increase by USD 2.89 billion at a CAGR of 19.16% between 2023 and 2028. The market is experiencing significant growth due to increasing concerns over plastic pollution and the need for ethical waste management. This trend is particularly prominent in the e-commerce industry, where the demand for environmentally friendly packaging, shipping materials, and mailing bags is on the rise. As online shopping continues to rise, the carbon footprint of delivery services becomes a major concern. In response, governments and businesses are encouraging the adoption of compostable plastics as a sustainable alternative to conventional plastics. However, the high costs associated with compostable plastics remain a challenge, which may hinder their widespread adoption. Key market growth factors include the growing use of compostable packaging and government initiatives encouraging the replacement of conventional plastics. Despite the challenges, the benefits of compostable plastics in reducing plastic pollution make them an attractive option for businesses and consumers seeking to minimize their environmental impact.

Request Free Sample

The market for compostable plastics is gaining momentum due to increasing environmental concerns and governmental initiatives towards sustainable waste management. These eco-friendly alternatives to conventional plastics are made from biodegradable materials, such as polylactic acid (PLA) and starch-based plastics, which decompose naturally under specific conditions. Municipal waste management is a significant contributor to the compostable plastics market. As governments and organizations focus on reducing landfill waste and promoting green procurement policies, the demand for compostable plastic products, such as bags, containers, and silverware, is on the rise. Biobased products derived from renewable feedstocks like sugarcane and corn starch are increasingly replacing traditional polymers and petrochemical counterparts.

Furthermore, the extraction and refining processes for these plant-based materials and Aerobic and anaerobic decomposition are becoming more efficient, making them a cost-effective alternative to conventional plastics. The compostable plastics market is witnessing growth in various sectors, including electronics, medical, and consumer goods. In the electronics industry, compostable plastics are used in packaging and insulation materials. In the medical sector, they are used for disposable medical equipment and single-use medical devices. Consumer awareness regarding the environmental impact of plastic waste is also driving the demand for compostable plastic packaging in the food and beverage industry. With rising environmental awareness, the demand for plant based materials and bio based materials is increasing, as they offer sustainable alternatives to traditional materials, reducing environmental impact and supporting a more eco-friendly future.

Market Segmentation

The market 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.

End-user

  Packaging
  Consumer goods
  Textiles
  Agriculture
  Others


Product

  Compostable bag
  Compostable cutlery
  Compostable gloves
  Compostable straw
  Others


Geography

  Europe

    Germany
    UK
    France


  North America

    US


  APAC

    China


  South America



  Middle East and Africa

By End-user Insights

The packaging segment is estimated to witness significant growth during the forecast period. Compostable plastics, also known as biodegradable plastics, have gained significant attention in the US market due to increasing governmental initiatives towards reducing municipal waste and promoting the use of biobased products. Two primary types of compostable packaging are rigid and flexible, which are utilized in various applications such as bottles, cups, pots, films, and bags. The food industry is a significant consumer of compostable packaging, with its usage in fresh food, dry snacks, candy, bakery goods, juice bottles, and meat trays. Additionally, compostable packaging is preferred for premium and branded products with specific requirements. According to industry reports, over 60% of bioplastics are used in packaging applications.

Furthermore, biodegradable plastics, including polylactic acid (PLA) and starch bags, are subjected to various standards such as BS N13432. These plastics are derived from renewable feedstocks like sugarcane and corn. Biobased packaging offers several advantages, including reduced carbon footprint and compatibility with existing recycling infrastructure. The US market for compostable plastics is expected to grow significant

In 2022, the market value of pharmaceutical plastic bottles in Latin America reached a total of 777 million U.S. dollars. This market was projected to experience growth across all regions, resulting in a total market value of approximately 948.3 million U.S. dollars in 2030. Within this region, Brazil was expected to dominate the pharmaceutical plastic bottles market with a contribution of around 354.76 million U.S. dollars in 2022, which is estimated to increase to a value of approximately 452.94 million U.S. dollars in 2030.

The Latin American plastic support market rose to $14.7B in 2024, with an increase of 3% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $15.1B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Post-consumer Recycled Plastics Market size was worth around USD 60.98 Billion in 2022 and is predicted to around USD 103.92 Billion by 2030

Latin America Plastic Packaging Market size was valued at USD 23.60 Billion in 2024 and is projected to reach USD 34.61 Billion by 2032, growing at a CAGR of 4.9% from 2026 to 2032.

Key Market Drivers:

Increasing Food and Beverage Packaging Demand: The market for food and beverage packaging in Latin America is forecast to increase dramatically, reaching USD 45.3 Billion by 2025, owing to shifting customer demands for convenience and hygiene. This expansion is primarily driven by a rising urban population, which raises demand for packaged and processed foods, as well as a shift toward modern, hygienic packaging solutions that fulfill the needs of busy, health-conscious consumers.

Sustainability and Recyclable Packaging Initiatives: Sustainability and recyclable packaging initiatives are becoming important drivers in Latin America’s plastic packaging market, with nations such as Brazil and Chile enacting stricter plastic waste management rules.

South America Bio based Plastics Market size is USD 590.71 million in 2024 and will expand at a compound annual growth rate (CAGR) of 18.7% from 2024 to 2031.

Product Market size is rising upward in the past few years And it is estimated that the market will grow significantly in the forecasted period