Global Resin Market Size Study by Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, Others), by End-use Industry (Packaging, Automotive

Global Resin Market Size Study by Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, Others), by End-use Industry (Packaging, Automotive & Transportation, Building & Construction, Consumer Goods/Lifestyle, Electrical & Electronics, Agriculture, Others) and Regional Forecasts 2022-2032

Global Resin Market is valued at approximately USD 556 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2024-2032. Resin, a highly viscous or solid substance, can be derived from natural plant sources or manufactured synthetically in laboratories. Due to their lightweight, chemical resistance, and high flexural strength properties, these resinous materials play a crucial role in various end-use industries, including automotive, packaging, construction, and medical. The demand for resins is further bolstered by their increasing adoption in the production of essential items such as face masks, gloves, and PPE kits, especially during the COVID-19 pandemic.

The market is poised for significant growth driven by the rapid expansion of the packaging, pharmaceutical, food & beverage, consumer goods, and e-commerce sectors. In response to consumer demand and legislative trends, there is a growing emphasis on sustainable raw materials. This shift has increased demand for high-solid and water-based resins, significantly reducing volatile organic solvent emissions. Moreover, the green economy movement and focus on sustainability have encouraged many thermoset resin manufacturers to turn towards bio-based products, using feedstocks such as corn and soybeans. Companies like SABIC are leading the way by launching bio-based versions of their resin grades to meet rigorous sustainability goals. However, the market faces challenges such as the fluctuation of crude oil prices, which impacts the cost of petrochemical feedstock used in resin production. Environmental regulations aimed at reducing plastic consumption and the overuse of non-renewable resources also pose potential restraints to market growth. Governments worldwide are imposing restrictions on the use of crude oil and petroleum, creating supply-demand imbalances that can hinder the ability to meet end-user demands.

The key regions considered for the Global Resin Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is a dominating region in the Global Resin Market in terms of revenue. The market growth in the region is being attributed to factors including the presence of major plastic-producing countries like China and India. The region's growth is supported by the availability of raw materials and low production costs. Whereas, the market in North America is anticipated to grow at the fastest rate over the forecast period fueled by high demand for packaging in the food & beverage and cosmetics industries, coupled with stringent regulations regarding plastic quality.

Major market players included in this report are:

DuPont (U.S.)

Arkema (France)

BASF SE (Germany)

INEOS Holdings Ltd. (U.K.)

Hexion (U.S.)

Invista (U.S.)

LyondellBasell (Netherlands)

Mitsubishi Engineering-Plastics Corporation (Japan)

Mitsui Chemicals (Japan)

Nova Chemicals (Canada)

Qenos (Australia)

Radici Group (Italy)

SABIC (Saudi Arabia)

Repsol (Spain)

Sumitomo Chemical Co. Ltd. (Japan)


The detailed segments and sub-segments of the market are explained below:

By Type

Polyethylene

Polypropylene

Polyethylene Terephthalate

Polyvinyl Chloride

Acrylonitrile Butadiene Styrene

Polyamide

Polycarbonate

Polyurethane

Polystyrene

Others

By End-use Industry

Packaging

Automotive & Transportation

Building & Construction

Consumer Goods/Lifestyle

Electrical & Electronics

Agriculture

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

Saudi Arabia

South Africa

RoMEA

Years considered for the study are as follows:

Historical year – 2022

Base year – 2023

Forecast period – 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.

Annualized revenues and regional level analysis for each market segment.

Detailed analysis of geographical landscape with Country level analysis of major regions.

Competitive landscape with information on major players in the market.

Analysis of key business strategies and recommendations on future market approach.

Analysis of competitive structure of the market.

Demand side and supply side analysis of the market.

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