Resin Market Size, Share & Forecast to 2032 — Global Industry Analysis and Trend
The global resin market was valued at USD 593.94 billion in 2024 and is projected to reach USD 875.41 billion by 2032, growing at a CAGR of 5.0%.n
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2032 Outlook: Resin Market Size, Industry Trends and Competitive Share Analysis The global resin market size was USD 593.94 billion in 2024. The market is projected to grow from USD 623.27 billion in 2025 to USD 875.41 billion by 2032 at a CAGR of 5.0% during the forecast period. Resin is typically a solid or highly viscous material obtained from plants or artificially produced in a lab. The increasing need for polypropylene in the automotive and construction sectors is expected to drive the market s growth.Fortune Business Insights presents this information in their report titled "Global Resin Market, 2025 2032." The report further mentions that the automotive industry is exhibiting an increasing demand owing to the ongoing resin market trend of light weight vehicles. Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/resin-market-101746 Segments: Dominant Role of Polyethylene (PE) and Polypropylene (PP) in Market Driven by Automotive and Healthcare Industries Based on type, the market is segmented into polyurethane, acrylonitrile butadiene styrene (ABS), polyethylene (PE), polystyrene, polypropylene (PP), polyethylene terephthalate (PET), polycarbonate, polyvinyl chloride (PVC), polyamide, and others. PE (polyethylene) and PP (polypropylene) are the dominant materials in this segment, primarily driven by increased demand from the automotive and healthcare industries. Packaging Sector Poised for Rapid Growth, Ensuring Product Safety and Market Appeal Based on end-use industries, the market is segmented into agriculture, automotive & transportation, building & construction, packaging, consumer goods/lifestyle, electrical & electronics, and others.
The packaging industry is projected to experience the highest growth among various end-use sectors in the forecast period. Several industries require effective packaging to ensure product safety, convenience, and market appeal, contributing packaging segment s rapid expansion. Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Drivers & Restraints: Digital Transformation and Changing Consumer Preferences Drive Growth in Plastic Packaging Demand Pharmaceutical and electrical & electronics industries have embraced digital platforms to enhance customer support, service, and product sales, contributing to the increased demand for plastic packaging. Simultaneously, the food & beverage sector favors flexible packaging, driven by the growing popularity of convenience foods such as frozen and ready-to-eat meals. These developments are anticipated to propel the packaging solutions market, leading to a surge in demand for plastic packaging materials. Regional Insights: Asia Pacific Leads Plastic Market, with China and India as Key Contributors Asia Pacific emerged as the frontrunner recording a market value of USD 268.20 billion in 2022. This dominant position is expected to be sustained in the coming years, primarily driven by the presence of major plastic-producing and consuming nations such as China and India. In Europe, the market growth for resin is predominantly fueled by the automotive industry's escalating demand for plastics. The increasing consumption of plastics in automotive applications has become a significant factor driving the plastic market's expansion in the region. Competitive Landscape: Fragmented Competitive Landscape Drives Expansion of High-Performance Polymers Market The market s competitive landscape for high-performance polymers and compounds is characterized by fragmentation, with multiple key players vying for the resin market share. These players are actively expanding their production capabilities to cater to the growing demand and enhance their regional presence. Key Industry Development: August 2022 - Ashland, a global additive and specialty chemicals manufacturing company, declared a strategically important expansion of Viatel, a bioresorbable polymer manufacturing and R&D site at the National Science Park in Mullingar, Ireland. List of Key Players Profiled in the Market Report: DuPont (U.S.) Arkema (France) BASF SE (Germany)
INEOS Holdings Ltd. (U.K.) Hexion (U.S.) Invista (U.S.) LyondellBasell (Netherlands) SABIC (Saudi Arabia) Repsol (Spain) Sumitomo Chemical Co. Ltd. (Japan) Teijin Limited (Japan) Tosoh Corporation (Japan) Toray Group (Japan) Get Your Customization Research Report: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/resin-market-101746 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Address: Fortune Business Insights Pvt. Ltd. 9th Floor, Icon Tower, Baner Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone US: +18339092966 UK: +448085020280 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com
