In-Depth Plastics Market Analysis, Opportunities & 2032 Forecast
The global plastics market was valued at USD 524.48 billion in 2024 and is expected to reach USD 754.23 billion by 2032, growing from USD 533.59 billion in 2025 at a compound annual growth rate (CAGR) of 5.1% during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report titled, “Plastics Market, 2025-2032.” Plastics are polymers that are versatile, easy to produce, moldable, waterproof in nature, low cost, and lightweight, used to produce different products such as spacecraft and others. The plastics produced using renewable biomass sources, including vegetable oil, sawdust, food waste, and corn starch, are known as bioplastics.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.
Segments
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.)
- Ducor Petrochemicals (Netherlands)
- Reliance Industries Limited (India)
- Formosa Plastic Group (Taiwan)
- Total S.A. (France)
- Braskem (Brazil)
- BASF SE (Germany)
- Repsol (Spain)
- Borouge (UAE)
- Borealis AG (Austria)
- MOL Group (Hungary)
- 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.
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.
Key Industry Development
- January 2022: Borealis joined hands with Reclay Group to keep up with the demand for recyclate material for use in high-end plastic applications.
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