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Plastics Market Size, Share & Forecast Analysis to 2032
The global plastics market size was valued at USD 507.16 billion in 2023 and is projected to grow
from USD 532.64 billion in 2024 to USD 778.67 billion by 2032, exhibiting a CAGR of 5.1% during
2024-2032. Fortune Business Insights™ has deep-dived these inputs in its latest research report
titled, “Plastics Market, 2025-2032.”
According to the study, synthetic material has gained considerable traction due to easy
manufacturing, lightweight, low cost, and versatility. Amidst depleting sources of polymers,
recyclable products could gain considerable traction globally. Notably, healthcare & pharmaceutical,
automotive, and packaging sectors will exhibit stellar demand for sustainable packaging solutions.
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Report Coverage:
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It
has deep-dived into SWOT analysis. Quantitative and qualitative assessments have provided a
holistic view of the market. The primary interviews validate assumptions, findings, and the prevailing
business scenarios. The report also includes secondary resources such as annual reports, press
releases, white papers, and journals.
Segmentation Analysis:
Polyvinyl Chloride (PVC) to Gain Traction with Rising Demand for Resistance to Chemicals
In terms of type, the market is
segregated into polyethylene,
polypropylene, polyethylene
terephthalate, polyvinyl chloride,
acrylonitrile butadiene styrene,
polyamide, polycarbonate,
polyurethane, polystyrene, and
others. The polyvinyl chloride
segment will account for a
considerable share of the global
market due to electric insulation and
the demand for resistance to
chemicals.
Packaging to Remain Dominant Due to Robust Demand from Food & Beverage Sector
With respect to end-use industry, the market is segregated into packaging, automotive &
transportation, infrastructure & construction, consumer goods/lifestyle, healthcare &
pharmaceutical, electrical & electronics, textile, and others. The packaging segment will exhibit
notable growth during the assessment period, largely due to rising demand from the food &
beverage sector.
Major Players Profiled in the Plastics Market Report:

LyondellBasell Industries N.V. (Netherlands)
 ExxonMobil Chemical (U.S.)
 China National Petroleum Corporation (China)

INEOS (U.K.)
 China Petroleum & Chemical Corporation (China)
 SABIC (Saudi Arabia)
 Ducor Petrochemicals (Netherlands)
 Reliance Industries Limited (India)
 Formosa Plastic Group (Taiwan)
 Repsol (Spain)
 Beaulieu International Group (Belgium)
Drivers and Restraints:
Expanding Footprint of Engineering Plastics to Propel Growth Potentials
The plastics market share will witness notable traction during the forecast period, largely due to
better mechanical and thermal properties. Surging demand for better polymer solutions will
encourage leading companies to expedite investments. Prominently, surging demand for metal
substitution could play a pivotal role in boosting the material demand. Furthermore, the food
industry is poised to be the major recipient of plastics that avoid contamination and minimize food
quality degradation. Increased usage of the polymer in fashion, sports, and toy-making will bode well
for the industry growth.
Regional Insights:

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https://www.globenewswire.com/Tracker?data=bAu0cDlkAw94hfQFiOXTI-WKDgQUCPPaX__F--BuGTEq_WgHzdS_v15bYauPt8yfE8aCgC86joPn-YvD9T0QyBIdUe6rpmO4bnsysqV7i9_E_7Wa6f6oNxAKLBxu8lfj

Asia Pacific to Remain Stronghold with Soaring Demand for Consumer Goods
Stakeholders anticipate the Asia Pacific market forecast to be strong due to increased availability of
raw materials. Robust growth in the construction and packaging sectors could foster growth across
China, India, and Australia.
Bullish demand from healthcare & pharmaceuticals and packaging industries in the U.S. will
underpin the North America plastics market growth. Moreover, the automotive and transportation
sectors could exhibit strong demand for synthetic materials.
The Middle East & Africa could emerge as favorable investment hubs for plastic manufacturers and
suppliers. The robust outlook is primarily attributed to robust demand from the packaging and
textile industries. The trend for lightweight packaging and the expanding application of polymers will
muster the confidence of leading companies gearing to bolster their portfolios.
Competitive Landscape:
Major Players Prioritize Collaboration to Tap into Markets
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological
advancements and R&D activities. Besides, major companies could invest in innovations and product
offerings in the ensuing period.
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