SAN FRANCISCO, Oct. 30, 2019 /PRNewswire/ -- 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.
Key suggestions from 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
Read 286 page research report with ToC on "Plastic Resins Market Size, Share & Trends Analysis Report By Product (Crystalline, Non-Crystalline, Engineering Plastic, Super Engineering Plastic), By Application, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/plastic-resins-market
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.
Grand View Research has segmented the global plastic resin market on the basis of product, 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
- Russia
- U.K.
- Spain
- Italy
- Asia Pacific
- China
- Japan
- South Korea
- Australia
- India
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
Find more research reports on Plastics, Polymers & Resins Industry, by Grand View Research:
- 1,6 Hexanediol Market– Growth of global polyurethanes (PU) demand from key end-use industries such as infrastructure and furniture is expected to remain a key driving factor for 1, 6 hexanediol market over the next six years.
- Amino Resin Market – Growing demand from automotive coatings and wood applications is expected to be a major factoring driving the global amino resin market.
- Cellulose Ethers Market – Global cellulose ethers market is expected to witness significant growth over the forecast period owing to its increasing demand in construction as thickeners, binders and water-retention agents.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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