Resin Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Resin Market
The resin market size was valued at USD 556.00 billion in 2023, and the market is now projected to grow from USD 582.81 billion in 2024 to USD 859.27 billion by 2032, exhibiting a CAGR of 5.0% during the forecast period of 2023-2030.
The pandemic affected the resin market with interruptions along the product chain, as well as decreased demand from the private sectors like construction and automotive. The lockdown measures stopped the production, thus inventories were built up and the manufacturers suffered financially. Investments and developments structures were hampered by the unpredictability of the pandemic. Falling consumer spending, in turn, led to a decreasing demand for resins-made products.
The resin market is expanding rapidly due to rising demand from the various industries. The main factors driving the resin market growth are urbanization, infrastructure development, and lightweight materials demand. Moreover, advancements in resin technology, which involve bio-based and recycled resins, are making contributions towards sustainability endeavors and providing wider market prospects. The increasing environmental awareness and the strict rules also contribute to the use of eco-friendly resin solutions.
The resin industry experiences several trends, which include growing demand for ecologically-friendly resins derived from the renewable sources like bio-based and reused materials due to people's eco concerns. Rapid advancement of technologies is improving resin performance and as a result it has become popular in the many industries like automotive, construction, packaging, and electronics. The manufacturers of resin are now concentrating on the creation of formulations with better properties such as durability, strength, and light weight characteristics.
Comprehensive Analysis of Resin Market
The resin industry is rising at an exponential rate due to its market segmentation. These segmentations are methodically segregated by type, and by end-use industry. Based on type, market is divided into polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride, acrylonitrile butadiene styrene, polyamide, polycarbonate, polyurethane, polystyrene, and others. Based on end-use industry, market is divided into packaging, automotive & transportation, building & construction, consumer goods/lifestyle, electrical & electronics, agriculture, and others.
The Asia Pacific holds leading position in resin market share with a market size of USD 268.20 billion in 2023 due to upward thrust of industrialization, growing creation activities and soaring demand from the car and packaging industries. China, India, and Japan have provided the greatest share of the growth due to their strong manufacturing base and infrastructural development, respectively. Moreover, the region is also the place where the focus on eco-friendly and sustainable resins is growing, which coincides with the global environmental targets.
The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, 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). These market players provide a level-playing competitive landscape.
December 2022: Dow and Neste, the two largest companies in chemicals and materials industry, plan to introduce new sustainable resin technologies by means of their partnership.
Segmentation Table
Global Resin Market Scope
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion) and Volume (Million Ton)
Growth Rate CAGR of 5.0% during 2024-2032
Segmentation
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 (By Type, By End-use Industry, By Country)
- U.S. (By End-use Industry)
- Canada (By End-use Industry)
Europe (By Type, By End-use Industry, By Country)
- Germany (By End-use Industry)
- U.K. (By End-use Industry)
- France (By End-use Industry)
- Italy (By End-use Industry)
- Spain (By End-use Industry)
- Rest of Europe (By End-use Industry)
Asia Pacific (By Type, By End-use Industry, By Country)
- China (By End-use Industry)
- Japan (By End-use Industry)
- India (By End-use Industry)
- South Korea (By End-use Industry)
- Rest of the Asia Pacific (By End-use Industry)
Latin America (By Type, By End-use Industry, By Country)
- Brazil (By End-use Industry)
- Argentina (By End-use Industry)
- Mexico (By End-use Industry)
- Rest of Latin America (By End-use Industry)
Middle East & Africa (By Type, By End-use Industry, By Country)
- Saudi Arabia (By End-use Industry)
- South Africa (By End-use Industry)
- Rest of the Middle East & Africa (By End-use Industry)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends in the Global Market
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Impact of COVID-19 on the Market
- 5. Global Resin Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type (Value/Volume)
- 5.2.1. Polyethylene
- 5.2.2. Polypropylene
- 5.2.3. Polyethylene Terephthalate
- 5.2.4. Polyvinyl Chloride
- 5.2.5. Acrylonitrile Butadiene Styrene
- 5.2.6. Polyamide
- 5.2.7. Polycarbonate
- 5.2.8. Polyurethane
- 5.2.9. Others
- 5.3. By End-use Industry (Value/Volume)
- 5.3.1. Packaging
- 5.3.2. Automotive & Transportation
- 5.3.3. Building & Construction
- 5.3.4. Consumer Goods/Lifestyle
- 5.3.5. Electrical & Electronics
- 5.3.6. Agriculture
- 5.3.7. Others
- 5.4. By Region (Value/Volume)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America
- 5.4.5. Middle East & Africa
- 6. North America Resin Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type (Value/Volume)
- 6.2.1. Polyethylene
- 6.2.2. Polypropylene
- 6.2.3. Polyethylene Terephthalate
- 6.2.4. Polyvinyl Chloride
- 6.2.5. Acrylonitrile Butadiene Styrene
- 6.2.6. Polyamide
- 6.2.7. Polycarbonate
- 6.2.8. Polyurethane
- 6.2.9. Others
- 6.3. By End-use Industry (Value/Volume)
- 6.3.1. Packaging
- 6.3.2. Automotive & Transportation
- 6.3.3. Building & Construction
- 6.3.4. Consumer Goods/Lifestyle
- 6.3.5. Electrical & Electronics
- 6.3.6. Agriculture
- 6.3.7. Others
- 6.4. By Country
- 6.4.1. U.S.
- 6.4.1.1. By End-use Industry (Value/Volume)
- 6.4.1.1.1. Packaging
- 6.4.1.1.2. Automotive & Transportation
- 6.4.1.1.3. Building & Construction
- 6.4.1.1.4. Consumer Goods/Lifestyle
- 6.4.1.1.5. Electrical & Electronics
- 6.4.1.1.6. Agriculture
- 6.4.1.1.7. Others
- 6.4.2. Canada
- 6.4.2.1. By End-use Industry (Value/Volume)
- 6.4.2.1.1. Packaging
- 6.4.2.1.2. Automotive & Transportation
- 6.4.2.1.3. Building & Construction
- 6.4.2.1.4. Consumer Goods/Lifestyle
- 6.4.2.1.5. Electrical & Electronics
- 6.4.2.1.6. Agriculture
- 6.4.2.1.7. Others
- 7. Europe Resin Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type (Value/Volume)
- 7.2.1. Polyethylene
- 7.2.2. Polypropylene
- 7.2.3. Polyethylene Terephthalate
- 7.2.4. Polyvinyl Chloride
- 7.2.5. Acrylonitrile Butadiene Styrene
- 7.2.6. Polyamide
- 7.2.7. Polycarbonate
- 7.2.8. Polyurethane
- 7.2.9. Others
- 7.3. By End-use Industry (Value/Volume)
- 7.3.1. Packaging
- 7.3.2. Automotive & Transportation
- 7.3.3. Building & Construction
- 7.3.4. Consumer Goods/Lifestyle
- 7.3.5. Electrical & Electronics
- 7.3.6. Agriculture
- 7.3.7. Others
- 7.4. By Country (Value/Volume)
- 7.4.1. Germany
- 7.4.1.1. By End-use Industry (Value/Volume)
- 7.4.1.1.1. Packaging
- 7.4.1.1.2. Automotive & Transportation
- 7.4.1.1.3. Building & Construction
- 7.4.1.1.4. Consumer Goods/Lifestyle
- 7.4.1.1.5. Electrical & Electronics
- 7.4.1.1.6. Agriculture
- 7.4.1.1.7. Others
- 7.4.2. U.K.
- 7.4.2.1. By End-use Industry (Value/Volume)
- 7.4.2.1.1. Packaging
- 7.4.2.1.2. Automotive & Transportation
- 7.4.2.1.3. Building & Construction
- 7.4.2.1.4. Consumer Goods/Lifestyle
- 7.4.2.1.5. Electrical & Electronics
- 7.4.2.1.6. Agriculture
- 7.4.2.1.7. Others
- 7.4.3. France
- 7.4.3.1. By End-use Industry (Value/Volume)
- 7.4.3.1.1. Packaging
- 7.4.3.1.2. Automotive & Transportation
- 7.4.3.1.3. Building & Construction
- 7.4.3.1.4. Consumer Goods/Lifestyle
- 7.4.3.1.5. Electrical & Electronics
- 7.4.3.1.6. Agriculture
- 7.4.3.1.7. Others
- 7.4.4. Italy
- 7.4.4.1. By End-use Industry (Value/Volume)
- 7.4.4.1.1. Packaging
- 7.4.4.1.2. Automotive & Transportation
- 7.4.4.1.3. Building & Construction
- 7.4.4.1.4. Consumer Goods/Lifestyle
- 7.4.4.1.5. Electrical & Electronics
- 7.4.4.1.6. Agriculture
- 7.4.4.1.7. Others
- 7.4.5. Spain
- 7.4.5.1. By End-use Industry (Value/Volume)
- 7.4.5.1.1. Packaging
- 7.4.5.1.2. Automotive & Transportation
- 7.4.5.1.3. Building & Construction
- 7.4.5.1.4. Consumer Goods/Lifestyle
- 7.4.5.1.5. Electrical & Electronics
- 7.4.5.1.6. Agriculture
- 7.4.5.1.7. Others
- 7.4.6. Rest of Europe
- 7.4.6.1. By End-use Industry (Value/Volume)
- 7.4.6.1.1. Packaging
- 7.4.6.1.2. Automotive & Transportation
- 7.4.6.1.3. Building & Construction
- 7.4.6.1.4. Consumer Goods/Lifestyle
- 7.4.6.1.5. Electrical & Electronics
- 7.4.6.1.6. Agriculture
- 7.4.6.1.7. Others
- 8. Asia-Pacific Resin Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type (Value/Volume)
- 8.2.1. Polyethylene
- 8.2.2. Polypropylene
- 8.2.3. Polyethylene Terephthalate
- 8.2.4. Polyvinyl Chloride
- 8.2.5. Acrylonitrile Butadiene Styrene
- 8.2.6. Polyamide
- 8.2.7. Polycarbonate
- 8.2.8. Polyurethane
- 8.2.9. Others
- 8.3. By End-use Industry (Value/Volume)
- 8.3.1. Packaging
- 8.3.2. Automotive & Transportation
- 8.3.3. Building & Construction
- 8.3.4. Consumer Goods/Lifestyle
- 8.3.5. Electrical & Electronics
- 8.3.6. Agriculture
- 8.3.7. Others
- 8.4. By Country (Value/Volume)
- 8.4.1. China
- 8.4.1.1. By End-use Industry (Value/Volume)
- 8.4.1.1.1. Packaging
- 8.4.1.1.2. Automotive & Transportation
- 8.4.1.1.3. Building & Construction
- 8.4.1.1.4. Consumer Goods/Lifestyle
- 8.4.1.1.5. Electrical & Electronics
- 8.4.1.1.6. Agriculture
- 8.4.1.1.7. Others
- 8.4.2. India
- 8.4.2.1. By End-use Industry (Value/Volume)
- 8.4.2.1.1. Packaging
- 8.4.2.1.2. Automotive & Transportation
- 8.4.2.1.3. Building & Construction
- 8.4.2.1.4. Consumer Goods/Lifestyle
- 8.4.2.1.5. Electrical & Electronics
- 8.4.2.1.6. Agriculture
- 8.4.2.1.7. Others
- 8.4.3. Japan
- 8.4.3.1. By End-use Industry (Value/Volume)
- 8.4.3.1.1. Packaging
- 8.4.3.1.2. Automotive & Transportation
- 8.4.3.1.3. Building & Construction
- 8.4.3.1.4. Consumer Goods/Lifestyle
- 8.4.3.1.5. Electrical & Electronics
- 8.4.3.1.6. Agriculture
- 8.4.3.1.7. Others
- 8.4.4. South Korea
- 8.4.4.1. By End-use Industry (Value/Volume)
- 8.4.4.1.1. Packaging
- 8.4.4.1.2. Automotive & Transportation
- 8.4.4.1.3. Building & Construction
- 8.4.4.1.4. Consumer Goods/Lifestyle
- 8.4.4.1.5. Electrical & Electronics
- 8.4.4.1.6. Agriculture
- 8.4.4.1.7. Others
- 8.4.5. Rest of Asia-Pacific
- 8.4.5.1. By End-use Industry (Value/Volume)
- 8.4.5.1.1. Packaging
- 8.4.5.1.2. Automotive & Transportation
- 8.4.5.1.3. Building & Construction
- 8.4.5.1.4. Consumer Goods/Lifestyle
- 8.4.5.1.5. Electrical & Electronics
- 8.4.5.1.6. Agriculture
- 8.4.5.1.7. Others
- 9. Latin America Resin Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type (Value/Volume)
- 9.2.1. Polyethylene
- 9.2.2. Polypropylene
- 9.2.3. Polyethylene Terephthalate
- 9.2.4. Polyvinyl Chloride
- 9.2.5. Acrylonitrile Butadiene Styrene
- 9.2.6. Polyamide
- 9.2.7. Polycarbonate
- 9.2.8. Polyurethane
- 9.2.9. Others
- 9.3. By End-use Industry (Value/Volume)
- 9.3.1. Packaging
- 9.3.2. Automotive & Transportation
- 9.3.3. Building & Construction
- 9.3.4. Consumer Goods/Lifestyle
- 9.3.5. Electrical & Electronics
- 9.3.6. Agriculture
- 9.3.7. Others
- 9.4. By Country (Value/Volume)
- 9.4.1. Brazil
- 9.4.1.1. By End-use Industry (Value/Volume)
- 9.4.1.1.1. Packaging
- 9.4.1.1.2. Automotive & Transportation
- 9.4.1.1.3. Building & Construction
- 9.4.1.1.4. Consumer Goods/Lifestyle
- 9.4.1.1.5. Electrical & Electronics
- 9.4.1.1.6. Agriculture
- 9.4.1.1.7. Others
- 9.4.2. Argentina
- 9.4.2.1. By End-use Industry (Value/Volume)
- 9.4.2.1.1. Packaging
- 9.4.2.1.2. Automotive & Transportation
- 9.4.2.1.3. Building & Construction
- 9.4.2.1.4. Consumer Goods/Lifestyle
- 9.4.2.1.5. Electrical & Electronics
- 9.4.2.1.6. Agriculture
- 9.4.2.1.7. Others
- 9.4.3. Mexico
- 9.4.3.1. By End-use Industry (Value/Volume)
- 9.4.3.1.1. Packaging
- 9.4.3.1.2. Automotive & Transportation
- 9.4.3.1.3. Building & Construction
- 9.4.3.1.4. Consumer Goods/Lifestyle
- 9.4.3.1.5. Electrical & Electronics
- 9.4.3.1.6. Agriculture
- 9.4.3.1.7. Others
- 9.4.4. Rest of Latin America
- 9.4.4.1. By End-use Industry (Value/Volume)
- 9.4.4.1.1. Packaging
- 9.4.4.1.2. Automotive & Transportation
- 9.4.4.1.3. Building & Construction
- 9.4.4.1.4. Consumer Goods/Lifestyle
- 9.4.4.1.5. Electrical & Electronics
- 9.4.4.1.6. Agriculture
- 9.4.4.1.7. Others
- 10. Middle East & Africa Resin Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type (Value/Volume)
- 10.2.1. Polyethylene
- 10.2.2. Polypropylene
- 10.2.3. Polyethylene Terephthalate
- 10.2.4. Polyvinyl Chloride
- 10.2.5. Acrylonitrile Butadiene Styrene
- 10.2.6. Polyamide
- 10.2.7. Polycarbonate
- 10.2.8. Polyurethane
- 10.2.9. Others
- 10.3. By End-use Industry (Value/Volume)
- 10.3.1. Packaging
- 10.3.2. Automotive & Transportation
- 10.3.3. Building & Construction
- 10.3.4. Consumer Goods/Lifestyle
- 10.3.5. Electrical & Electronics
- 10.3.6. Agriculture
- 10.3.7. Others
- 10.4. By Country (Value/Volume)
- 10.4.1. Saudi Arabia
- 10.4.1.1. By End-use Industry (Value/Volume)
- 10.4.1.1.1. Packaging
- 10.4.1.1.2. Automotive & Transportation
- 10.4.1.1.3. Building & Construction
- 10.4.1.1.4. Consumer Goods/Lifestyle
- 10.4.1.1.5. Electrical & Electronics
- 10.4.1.1.6. Agriculture
- 10.4.1.1.7. Others
- 10.4.2. South Africa
- 10.4.2.1. By End-use Industry (Value/Volume)
- 10.4.2.1.1. Packaging
- 10.4.2.1.2. Automotive & Transportation
- 10.4.2.1.3. Building & Construction
- 10.4.2.1.4. Consumer Goods/Lifestyle
- 10.4.2.1.5. Electrical & Electronics
- 10.4.2.1.6. Agriculture
- 10.4.2.1.7. Others
- 10.4.3. Rest of the Middle East & Africa
- 10.4.3.1. By End-use Industry (Value/Volume)
- 10.4.3.1.1. Packaging
- 10.4.3.1.2. Automotive & Transportation
- 10.4.3.1.3. Building & Construction
- 10.4.3.1.4. Consumer Goods/Lifestyle
- 10.4.3.1.5. Electrical & Electronics
- 10.4.3.1.6. Agriculture
- 10.4.3.1.7. Others
- 11. Competetive Analysis
- 11.1. Company Market Share/ Ranking Analysis, 2023
- 11.2. Company Profiles
- 11.2.1. DuPont
- 11.2.1.1. Overview
- 11.2.1.2. Description
- 11.2.1.3. Product Portfolio
- 11.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.1.5. Recent Developments
- 11.2.2. Arkema S.A.
- 11.2.2.1. Overview
- 11.2.2.2. Description
- 11.2.2.3. Product Portfolio
- 11.2.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.2.5. Recent Developments
- 11.2.3. BASF SE
- 11.2.3.1. Overview
- 11.2.3.2. Description
- 11.2.3.3. Product Portfolio
- 11.2.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.3.5. Recent Developments
- 11.2.4. INEOS Holdings Ltd.
- 11.2.4.1. Overview
- 11.2.4.2. Description
- 11.2.4.3. Product Portfolio
- 11.2.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.4.5. Recent Developments
- 11.2.5. Hexion
- 11.2.5.1. Overview
- 11.2.5.2. Description
- 11.2.5.3. Product Portfolio
- 11.2.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5.5. Recent Developments
- 11.2.6. Invista
- 11.2.6.1. Overview
- 11.2.6.2. Description
- 11.2.6.3. Product Portfolio
- 11.2.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.6.5. Recent Developments
- 11.2.7. Lyondellbasell
- 11.2.7.1. Overview
- 11.2.7.2. Description
- 11.2.7.3. Product Portfolio
- 11.2.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.7.5. Recent Developments
- 11.2.8. Mitsubhishi Engineering-Plastics Corporation
- 11.2.8.1. Overview
- 11.2.8.2. Description
- 11.2.8.3. Product Portfolio
- 11.2.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.8.5. Recent Developments
- 11.2.9. Mitsui Chemicals
- 11.2.9.1. Overview
- 11.2.9.2. Description
- 11.2.9.3. Product Portfolio
- 11.2.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.9.5. Recent Developments
- 11.2.10. Nova Chemicals
- 11.2.10.1. Overview
- 11.2.10.2. Description
- 11.2.10.3. Product Portfolio
- 11.2.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.10.5. Recent Developments
- 11.2.11. Quenos
- 11.2.11.1. Overview
- 11.2.11.2. Description
- 11.2.11.3. Product Portfolio
- 11.2.11.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.11.5. Recent Developments
- 11.2.12. Radici Group
- 11.2.12.1. Overview
- 11.2.12.2. Description
- 11.2.12.3. Product Portfolio
- 11.2.12.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.12.5. Recent Developments
- 11.2.13. SABIC
- 11.2.13.1. Overview
- 11.2.13.2. Description
- 11.2.13.3. Product Portfolio
- 11.2.13.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.13.5. Recent Developments
- 11.2.14. Repsol
- 11.2.14.1. Overview
- 11.2.14.2. Description
- 11.2.14.3. Product Portfolio
- 11.2.14.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.14.5. Recent Developments
- 11.2.15. Sumitomo Chemical Co. Ltd.
- 11.2.15.1. Overview
- 11.2.15.2. Description
- 11.2.15.3. Product Portfolio
- 11.2.15.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.15.5. Recent Developments
- 11.2.16. Teijin Limited
- 11.2.16.1. Overview
- 11.2.16.2. Description
- 11.2.16.3. Product Portfolio
- 11.2.16.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.16.5. Recent Developments
- 11.2.17. Tosoh Corporation
- 11.2.17.1. Overview
- 11.2.17.2. Description
- 11.2.17.3. Product Portfolio
- 11.2.17.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.17.5. Recent Developments
- 11.2.18. Toray Group
- 11.2.18.1. Overview
- 11.2.18.2. Description
- 11.2.18.3. Product Portfolio
- 11.2.18.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.18.5. Recent Developments
- 12. Strategic Recommendations
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