Global Plastic Material and Resins Market Report 2023: New Developments Such as CO2RE Foaming Technology, Big Data and IoT Integration Drive Growth

DUBLIN, June 9, 2023 /PRNewswire/ -- The "Plastic Material And Resins Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global plastic material and resins market grew from $800.9 billion in 2022 to $885.95 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The plastic material and resins market is expected to grow to $1301.4 billion in 2027 at a CAGR of 10.1%.

Major companies in the plastic materials and resins market include Dow Inc., Sinopec Limited, LyondellBasell Industries Holdings BV, Whitehead Institute for Biomedical Research, BASF SE, INEOS AG, DuPont Inc., Alpek SA.B. de C.V, Alfa SA.B. de C.V, and Exxon Mobil.

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The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include nonvulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins.

The main types of plastic materials and resins are polypropylene-plastic material and resins, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene-plastic material and resins, and other types of plastic material and resins.

Polyvinyl chloride is a thermoplastic made of 57% chlorine derived from common salt and 43% carbon derived from ethylene from hydrocarbon feedstocks, sugar crops, crude oil, and natural gas. The applications involved are packaging, housewares, bags, sheets, bottles, fibers, tapes, films, medical materials, and other applications. The end-user industries include the chemical industry, the coating and printing industry, the electronics industry, the food and pharmaceutical industry, and other end-user industries.

Oil price volatility is likely to have a negative impact on the plastic material and resin market as a significant decline and increase in oil prices negatively impact government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria, and the UAE (United Arab Emirates), which are largely dependent on revenues generated through crude oil exports, whereas a significant increase in oil prices has resulted in a spurt in inflation, current account deficit, and fiscal deficit in countries such as India and China, which predominantly import oil.

For instance, the Saudi government is expected to cut down its spending from 1.05 trillion riyals ($280 billion) in 2019 to 1.02 trillion riyals ($270 billion) in 2020 and to 955 billion riyals ($255 billion) by 2022 due to a significant decline in revenues generated from oil exports, thereby affecting the market. This high volatility in the oil process is further expected to negatively impact the market going forward.

The search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can change based on external environmental stimuli. A product that is a result of a combination of nanotechnology and plastic engineering.

These products have high electrical conductivity, dimensional stability, and are also flame retardant, along with resistance to scratches, dents, and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive, and aerospace sectors. For instance, some of the major developments in plastic materials include plastics from potatoes and virgin PET from discarded textile fabric and waste bottles.

Asia-Pacific was the largest region in the plastic material and resins market in 2022. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic materials and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the plastic materials and resins market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam.

New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches, and smaller pack sizes for single-servings, are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty.

Similarly, the recent development of biodegradable plastics, which degrade naturally from the actions of microorganisms such as bacteria, algae, and fungi, is gaining traction. These developments in packaging will increase the consumption of plastics, which will drive the market's growth.

The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Plastic Material And Resins Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Plastic Material And Resins Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products

5. Plastic Material And Resins Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers

6. Plastic Material And Resins Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth

7. Plastic Material And Resins Market Trends And Strategies

8. Plastic Material And Resins Market - Macro Economic Scenario
8.1 COVID-19 Impact On Plastic Material And Resins Market
8.2 Ukraine-Russia War Impact On Plastic Material And Resins Market
8.3 Impact Of High Inflation On Plastic Material And Resins Market

9. Plastic Material And Resins Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market

10. Plastic Material And Resins Market Regional Analysis
10.1. Global Plastic Material And Resins Market, 2022, By Region, Value ($ Billion)
10.2. Global Plastic Material And Resins Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
10.3. Global Plastic Material And Resins Market, Growth And Market Share Comparison, By Region

11. Plastic Material And Resins Market Segmentation
11.1. Global Plastic Material And Resins Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Polypropylene-Plastic Material And Resins
• High-Density Polyethylene
• Poly-Vinyl Chloride
• Polyethylene Terephthalate
• Polyurethane
• Low-Density Polyethylene
• Polystyrene-Plastic Material And Resins
• Other Plastic Material And Resins

11.2. Global Plastic Material And Resins Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Packaging
• Housewares
• Bags
• Sheets
• Bottles
• Fibers
• Tapes
• Films
• Medical Materials
• Other Applications

11.3. Global Plastic Material And Resins Market, Segmentation By End Userr Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

• Chemical Industry
• Coating & Printing Industry
• Electronics Industry
• Food & Pharmaceutical Industry
• Other End-User Industries

12. Plastic Material And Resins Market Metrics
12.1. Plastic Material And Resins Market Size, Percentage Of GDP, 2017-2027, Global
12.2. Per Capita Average Plastic Material And Resins Market Expenditure, 2017-2027, Global

For more information about this report visit https://www.researchandmarkets.com/r/rxicn6

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