Overview and Scope
Plastic products refer to a collective term for all the goods produced from a class of materials, either artificial or natural, that can be molded while still soft and subsequently hardened to maintain the desired shape. The processes used in plastic product manufacturing include compression molding, extrusion molding, injection molding, blow molding, and casting.
Sizing and Forecast
The plastic products market size has grown strongly in recent years. It will grow from $1061.89 billion in 2023 to $1142.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to versatility and adaptability of plastics, substitution for traditional materials, industrialization and manufacturing growth, automotive industry adoption, packaging industry innovations, consumer electronics boom.
The plastic products market size is expected to see strong growth in the next few years. It will grow to $1512.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to bio-based and biodegradable plastics, smart and functional plastics, focus on plastic waste management, shift in consumer preferences, global health crises preparedness, efforts to reduce single-use plastics. Major trends in the forecast period include plastic recycling technologies, anti-microbial plastics, lightweight plastic alternatives, plastic-free packaging initiatives, smart plastics with iot integration, plastic packaging recycling.
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Segmentation & Regional Insights
The plastic products market covered in this report is segmented –
1) By Type: Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Polystyrene Foam Products, Urethane And Other Foam Product, Other Plastics Product
2) By Technology: Injection Molding, Extrusion Molding, Blow Molding, Other Technologies
3) By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Other End Users
Subsegments Covered: Bags And Pouches, Films And Sheets, Unlaminated Plastics Profile Shape, Plastics Pipe And Pipe Fitting HDPE Plastic Bottles, PET Plastic Bottles, PP Plastic Bottles, Other Plastic Bottles
Asia-Pacific was the largest region in the plastic products market in 2023. North America was the second largest region in the plastic products market. The regions covered in the plastic products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing construction and building activities significantly drive the demand for plastic products market going forward. Construction and building activities refer to a wide range of activities that involve building structures, developing skills, and promoting teamwork. Plastic materials, such as PVC (polyvinyl chloride) and PEX (cross-linked polyethylene), are commonly used to construct plumbing systems. These materials are durable, corrosion-resistant, and cost-effective, making them ideal for water supply and drainage systems in residential, commercial, and industrial buildings. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020. Between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the growth of construction and infrastructure sectors is driving the growth of the plastic products market.
Key Industry Players
Major companies operating in the plastic products market report are Exxon Mobil Corporation, BASF SE, The Dow Chemical Company, Saudi Basic Industries Corporation, LyondellBasell Industries Holdings B.V., Thyssenkrupp AG, 3M Company, Amcor Limited, Berry Global Group Inc., Sekisui Chemical Co. Ltd., Avery dennison, Sealed Air Corporation, Brookfield Asset Management, Aptar Group, Laird Plastics Inc., PT Tech Inc., CeramTec North America LLC, New Process Fibre Company Inc., Liberty Plastics Inc., Applied Plastics Co. Inc., Industrial Plastic Supply Inc., National Plastics & Seals Inc., Matsui Technologies India Ltd., Acros Pvt. Ltd., Reading Plastic & Metal Advanced Machining, Ser Rezistans, Advanced Industrial Inc., Redwood Plastics and Rubber, Hanwool Corporation, Ihne & Tesch GmbH, Tesla Inc., The Boeing Company, The Coca-Cola Company
The plastic products market report table of contents includes:
1. Executive Summary
2. Plastic Products Market Characteristics
3. Plastic Products Product/Service Analysis -Product/Service Examples
4. Plastic Products Market Trends And Strategies
5. Plastic Products Market – Macro Economic Scenario
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68. Global Plastic Products Market Competitive Benchmarking
69. Global Plastic Products Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Plastic Products Market
71. Plastic Products Market Future Outlook and Potential Analysis
72. Appendix
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