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Plastic Resins Market Size Is Expected To Reach USD 885.4 Billion By 2025 : Grand View Research Inc.

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Plastic Resins Market Size Is Expected To Reach USD 885.4 Billion By 2025 : Grand View Research Inc.

November 14
04:14 2019
Plastic Resins Market Size Is Expected To Reach USD 885.4 Billion By 2025 : Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global plastic resins market size was valued at USD 671.01 billion in 2018 and is projected to expand at a CAGR of 4.0% from 2019 to 2025

The global plastic resins market size is expected to reach USD 885.4 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 4.0% over the forecast period. Increasing consumption of the product in construction, automotive, electrical and electronics application is projected to propel the growth. Regulatory intervention to reduce gross vehicle weight to improve fuel efficiency as well as to reduce carbon emission has driven automotive OEMs to adopt resins as a substitute to steel and aluminum for manufacturing automotive components.

Favorable federal regulations laid down by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA) regarding carbon emissions along with the initiatives by the European Union (EU) to develop plastics application for light-weight and fuel-efficient cars are likely to augment the growth of the plastic resins market.

Stringent regulations pertaining to recyclability and depletion of conventional materials, such as metal and wood, are expected to push the demand for material in pipes, windows, cables, storage tanks, and other uses in the construction industries. Plastics are durable and energy saving with cost effectiveness and safe properties, which promotes their application in construction purposes.

The global plastic resin market has been segmented, based on product into crystalline resin, non-crystalline resin, engineering plastic and super engineering plastic. Crystalline resin was the largest segment and accounted for 61.4% of the market share in terms of revenue in 2018. Crystalline resin segment mainly includes epoxy, polyethylene, and polypropylene resins.

U.S. plastic resins market size, by product, 2014 - 2025 (USD Billion)

Request a sample Copy of the Plastic Resins Market Research Report @ https://www.grandviewresearch.com/industry-analysis/plastic-resins-market/request/rs1

Key Takeways Of The Report :

  • Crystalline resin (epoxy, polyethylene and propylene) segment accounted for the prominent market share in 2018 and is expected to witness significant growth over the forecast period

  • In 2018, China accounted for the maximum market share in terms of revenue. Rising consumer disposable income in the country and demand for luxury cars are the factors expected to fuel the growth

  • Advent of bio-based plastic resins has played a prominent role in food and beverage and pharmaceutical applications. Polymers such as PET and PC are increasingly utilized in beverage packaging and consumer goods sector

  • Global plastic resin market is highly competitive and fragmented in nature with the presence of various key players, such as SABIC, BASE SE, Dow, DuPont, Evonik Industries AG, Arkema, Celanese Corporation, and others

Global plastic resins market share, by application, 2018 (%)

 

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/6763/ibb

Grand View Research has segmented the global plastic resin market on the basis of type, application, and region:

Plastic Resin Product Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Crystalline Resin

    • Epoxy

    • Polyethylene

    •  Polypropylene

  • Non-crystalline Resin

    • Polyvinyl Chloride (PVC)

    • Polystyrene (PS)

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polymethyl Methacrylate (PMMA)

  • Engineering Plastic

    • Nylon

    • Polybutylene Terephthalate (PBT)

    • Polycarbonate (PC)

    •  Polyamide

  • Super Engineering Plastic

    • Polyphenylene Sulfide (PPS)

    • Polyether Ether Ketone (PEEK)

    • Liquid Crystal Polymer (LCP)

Plastic Resin Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • Packaging

    • Food

    • Beverage

    • Medical

    • Retail

    • Others

  • Automotive

  • Construction

  • Electrical & Electronics

    • OA Equipment and Home Appliances

    • Electronic Materials

    • Others

  • Logistics

  • Consumer Goods

  • Textiles & Clothing

    • Clothing

    • Industrial use

    • Others

  • Furniture & Bedding

  • Agriculture

  • Medical Devices

  • Others

Plastic Resin Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Poland

    • Spain

  • China

  • Asia

    • India

    • Japan

    • Thailand

    • Malaysia

    • Indonesia

    • Vietnam

    • Singapore

    • Philippines

  • Pacific

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • United Arab Emirates (UAE)

    • Oman

Browse Related Report:

Medical Polymers Market : https://www.grandviewresearch.com/industry-analysis/medical-polymers-market

Functional Textile Finishing Agents Market : https://www.grandviewresearch.com/industry-analysis/functional-textile-finishing-agents-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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Website: https://www.grandviewresearch.com/industry-analysis/plastic-resins-market