The South-East Asia Plastics Market size is estimated at 30.48 Million tons in 2024, and is expected to reach 38.36 Million tons by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
The COVID-19 pandemic severely affected countries across Southeast Asia. The pandemic affected the production and supply of plastics, thereby affecting the market. However, the demand from the packaging segment surged due to the increasing use of online food and retail e-commerce services during the pandemic. However, post-COVID pandemic, the market registered a significant growth rate due to rising demand from packaging, electrical and electronics, building and construction, automotive, and transportation industries.
The South-East Asia plastics market is consolidated. Some of the major players in the market (not in any particular order) include BASF SE, Chemrez Technologies, Inc., LyondellBasell Industries Holdings B.V.,Petron Corporation, and Philippine Resins Industries, Inc., among others.
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