Industrial Plastic Market Size, Share, and Trends

Industrial Plastic Market By Product (Acrylonitrile Butadiene Styrene, Polyphenylene Ether, Polybutylene Terephthalate, Polyamide, PEEK, Polysulfone, Liquid Crystal Polymers, Polyphenylsulfone, Polytetrafluoroethylene, Polyetherimide, Polycarbonate and Others; By Application: Building & Construction, Packaging, Electrical & Electronics, Healthcare, Automotive & Transportation, Aerospace and Others) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2023 - 2032

  • Last Updated : June 2023
  • Report Code : 1156
  • Category : Chemical and Material

The global industrial plastic market was valued at USD 82.78 billion in 2022 and is expected to reach USD 132.8 billion by 2032, with a compound annual growth rate (CAGR) of 5.1% during the forecast period 2023 to 2032.

Industrial Plastic Market Size 2016-2027

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Growth Factors

Recent advancements in the industrial sector including electrical &electronics and automobile anticipated to propel the demand for lightweight plastic components in these industries. Increasing the application of energy-saving and environment-friendly products is estimated to positively influence market growth.

Further, ongoing Research & development (R&D) for nanotechnology-based plastics mainly for industrial applications is the other prominent factor that boosts the market growth owing to excellent thermal resistance and strength along with improved efficiency and subsequent weight reduction offered by these plastics.

Presently, innovations, technological breakthroughs, and research studies are going on in order to expand the scope of the product’s application which is projected to foster the growth of industrial plastics in the upcoming years. Furthermore, the government along with the private institutions invests prominently in the aerospace &defense industry, thereby flourishing the demand for these industrial plastics over the coming years.

Industrial Plastic Market Scope

Report Highlights Details
Market Size in 2023 USD 84.85 Billion
Market Size by 2032 USD 132.8 Billion
Growth Rate from 2023 to 2032 CAGR of 5.1%
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Type, Application, Region
Companies Mentioned SABIC, BASF SE, Victrex Plc, Evonik Industries AG, EnsingerGmbh, Lyondellbasell Industries Holdings B.V., Eastman Chemical Company, Arkema S.A., Solvay S.A., Teijin Limited, Formosa Plastics Corporation, Mitsubishi Engineering-Plastics Corporation, Toray Industries, Inc., Covestro AG, and Mitsui & Co., Ltd.

 

Product Insights

With respect to revenue, polyamide captured the largest segment share in 2022 accounting for nearly 41%. Properties of the product such as dimensional stability, sliding friction, rigidity, and chemical resistance compared to other counterparts make it suitable for application in a wide range of industries. Further, polyamide is lighter in weight compared to others which result in ease of transportation and usage.

Polycarbonate exhibits lucrative growth during the forthcoming years because of its significant demand from the transportation and electrical & electronics sectors. The product is greatly helpful in reducing the weight of the vehicle and hence improving the fuel efficiency that triggers its demand among several automotive Original Equipment Manufacturers (OEMs). Furthermore, polycarbonate is completely recyclable plastic, thus, favored as a substitute in various applications of plastics; for example, polycarbonate is used as a substitute of PVC mainly in medical devices. Apart from all this, polycarbonate offers high tensile strength and is easily processed and blended with its copolymers such as ABS and polyester. Hence, the aforementioned factors are likely to propel the industry growth for polycarbonate over the analysis period.

Application Insights

Automotive is a major application segment for industrial plastics owing to its notable contribution to the weight reduction of a vehicle. Technological innovations have brought several reforms in the plastic industry with the development of environment-friendly and lightweight plastics this creates a new horizon for its implementation in the automotive sector. Increasing production of electric cars and heavy-duty vehicles is further expected to provide an alluring opportunity for industrial plastics in the automotive sector. Stringent norms for weight reduction and carbon emission are likely to contribute notably to the application segment.

ABS is one of the most prominently used plastics in the automotive application ranging from interior components to engine parts. This type of plastic is also used as a substitute material for engineering plastics and metal components in the automotive industry because of its flexibility as well as excellent mechanical properties.

Regional Insights

The Asia Pacific captured the major market share in the global industrial plastic market in terms of revenue in 2022. The region is expected to continue the same trend over the coming years. The significant growth of the region is mainly because of a well-established manufacturing base, particularly in China, Taiwan, and South Korea. Some of the Asian countries such as India and China have strong manufacturing bases for the chemical industry that strengthens their market in the region. Furthermore, improving economic conditions, rapid urbanization, and increasing infrastructural activities are the key factors that support market growth in the region.

Various factors such as increasing unemployment, stalled industrial output, and debt crisis have negatively impacted the market growth in Europe. However, Eastern Europe is expected to have positive growth owing to rising consumption as well as a manufacturing base in the region. Furthermore, stringent government regulations for chemical industries issued by the European Commission and the European Chemicals Agency (ECHA) are estimated to provide alluring opportunities for renewable and environment-friendly plastic materials in the region.

Key Companies & Market Share Insights

The global industrial plastic market seeks several disruptions owing to the majority of the key market players have integrated their distribution operations and raw material production to maintain their product quality as well as to expand their regional presence. This helps these companies to gain a competitive advantage in terms of cost benefits, thereby increasing their profitability ratio.

Industrial Plastic Market Companies

  • SABIC
  • BASF SE
  • Victrex Plc
  • Evonik Industries AG
  • EnsingerGmbh
  • Lyondellbasell Industries Holdings B.V.
  • Eastman Chemical Company
  • Arkema S.A.
  • Solvay S.A.
  • Teijin Limited
  • Formosa Plastics Corporation
  • Mitsubishi Engineering-Plastics Corporation
  • Toray Industries, Inc.
  • Covestro AG
  • Mitsui & Co., Ltd.

Segments Covered in the Report

This research study comprises a complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers a classification of the marketplace into impending and niche sectors. Further, this research study calculates the market size and its development drift at global, regional, and country from 2020 to 2032. This report contains a market breakdown and its revenue estimation by classifying it on the basis of product, application, and region:

By Product

  • Acrylonitrile Butadiene Styrene (ABS)
  • Polyphenylene Ether
  • Polybutylene Terephthalate (PBT)
  • Polyamide
  • PEEK
  • Polysulfone (PSU)
  • Liquid Crystal Polymers
  • Polyphenylsulfone (PPSU)
  • Polytetrafluoroethylene (PTFE)
  • Polyetherimide
  • Polycarbonate
  • Others

By Application

  • Building & Construction
  • Packaging
  • Electrical & Electronics
  • Healthcare
  • Automotive & Transportation
  • Aerospace
  • Others

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Frequently Asked Questions

The global industrial plastic market size was valued at USD 82.78 billion in 2022 and expected to worth around USD 132.8 billion by 2032.

The global industrial plastic market is growing at a CAGR of 5.1% during the forecast period 2023 to 2032.

The Asia Pacific is the major market for industrial plastics across the globe and anticipated to retain its dominant position over the forthcoming years.

In respect to revenue, polyamide captured the largest segment share in 2022 accounting for nearly 41%.

Automotive is a major application segment for the industrial plastics owing to its notable contribution in the weight reduction of a vehicle.

Some of the key players operating in the market are SABIC, BASF SE, Victrex Plc, Evonik Industries AG, EnsingerGmbh, Lyondellbasell Industries Holdings B.V., Eastman Chemical Company, Arkema S.A., Solvay S.A., Teijin Limited, Formosa Plastics Corporation, Mitsubishi Engineering-Plastics Corporation, Toray Industries, Inc., Covestro AG, and Mitsui & Co., Ltd.among others.

Increasing application of plastic materials in packaging, construction, healthcare, transportation, electronics, and many other industries expected to propel the demand for the product over the coming years. Changing purchasing trend from offline to online along with eating habits have prominently triggered the growth of packaging industry over the recent past and expected to influence the market growth as well in the near future. Further, increasing innovations in the electronics & electrical industry has opened up new horizons for the plastic manufacturers to gain significant foothold in the end-use sector. Apart from the sluggish growth of automotive industry, growing emphasis towards lighter vehicles and electric cars projected to provide new opportunities to the industrial plastic ma

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Industrial Plastic Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Industrial Plastic Market

5.1. Covid-19: Industrial Plastic Industry Impact
5.2. Industrial Plastic Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Industrial Plastic Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Industrial Plastic Manufacturers to deal with Covid-19 Pandemic Scenario

Chapter 6. Industrial Plastic Market Dynamics Analysis and Trends

6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Significant Demand of Plastic as an Alternative of Glass and Metal
6.1.2. Market Restraints
6.1.2.1. Volatile Prices of Raw Materials
6.1.3. Market Opportunities
6.1.3.1. Increasing Demand from Various End-use Industries
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition

Chapter 7. Global Industrial Plastic Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Industrial Plastic Market Revenue by Manufacturer
7.1.1.2. Industrial Plastic Market Revenue Market Share by Manufacturer
7.1.1.3. Industrial Plastic Market Production by Manufacturer
7.1.1.4. Industrial Plastic Market Production Market Share by Manufacturer
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Manufacturers Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers

Chapter 8. Global Industrial Plastic Market, By Product

8.1. Industrial Plastic Market, by Product, 2023-2032
8.1.1. Acrylonitrile Butadiene Styrene (ABS)
8.1.1.1. Market Revenue and Forecast (2021-2032)
8.1.1.2. Market Production and Forecast (2021-2032)
8.1.2. Polyphenylene Ether
8.1.2.1. Market Revenue and Forecast (2021-2032)
8.1.2.2. Market Production and Forecast (2021-2032)
8.1.3. Polybutylene Terephthalate (PBT)
8.1.3.1. Market Revenue and Forecast (2021-2032)
8.1.3.2. Market Production and Forecast (2021-2032)
8.1.4. Polyamide
8.1.4.1. Market Revenue and Forecast (2021-2032)
8.1.4.2. Market Production and Forecast (2021-2032)
8.1.5. PEEK
8.1.5.1. Market Revenue and Forecast (2021-2032)
8.1.5.2. Market Production and Forecast (2021-2032)
8.1.6. Polysulfone (PSU)
8.1.6.1. Market Revenue and Forecast (2021-2032)
8.1.6.2. Market Production and Forecast (2021-2032)
8.1.7. Liquid Crystal Polymers
8.1.7.1. Market Revenue and Forecast (2021-2032)
8.1.7.2. Market Production and Forecast (2021-2032)
8.1.8. Polyphenylsulfone (PPSU)
8.1.8.1. Market Revenue and Forecast (2021-2032)
8.1.8.2. Market Production and Forecast (2021-2032)
8.1.9. Polytetrafluoroethylene (PTFE)
8.1.9.1. Market Revenue and Forecast (2021-2032)
8.1.9.2. Market Production and Forecast (2021-2032)
8.1.10. Polyetherimide
8.1.10.1. Market Revenue and Forecast (2021-2032)
8.1.10.2. Market Production and Forecast (2021-2032)
8.1.11. Polycarbonate
8.1.11.1. Market Revenue and Forecast (2021-2032)
8.1.11.2. Market Production and Forecast (2021-2032)
8.1.12. Others
8.1.12.1. Market Revenue and Forecast (2021-2032)
8.1.12.2. Market Production and Forecast (2021-2032)

Chapter 9. Global Industrial Plastic Market, By Application

9.1. Industrial Plastic Market, by Application, 2023-2032
9.1.1. Building & Construction
9.1.1.1. Market Revenue and Forecast (2021-2032)
9.1.1.2. Market Consumption and Forecast (2021-2032)
9.1.2. Packaging
9.1.2.1. Market Revenue and Forecast (2021-2032)
9.1.2.2. Market Consumption and Forecast (2021-2032)
9.1.3. Electrical & Electronics
9.1.3.1. Market Revenue and Forecast (2021-2032)
9.1.3.2. Market Consumption and Forecast (2021-2032)
9.1.4. Healthcare
9.1.4.1. Market Revenue and Forecast (2021-2032)
9.1.4.2. Market Consumption and Forecast (2021-2032)
9.1.5. Automotive & Transportation
9.1.5.1. Market Revenue and Forecast (2021-2032)
9.1.5.2. Market Consumption and Forecast (2021-2032)
9.1.6. Aerospace
9.1.6.1. Market Revenue and Forecast (2021-2032)
9.1.6.2. Market Consumption and Forecast (2021-2032)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2021-2032)
9.1.7.2. Market Consumption and Forecast (2021-2032)

Chapter 10. Global Industrial Plastic Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Production Forecast by Product (2021-2032)
10.1.2. Market Revenue and Consumption Forecast by Application (2021-2032)
10.1.3. U.S
10.1.3.1. Market Revenue and Production Forecast (2021-2032)
10.1.3.2. Market Revenue and Consumption Forecast (2021-2032)
10.1.4. Canada
10.1.4.1. Market Revenue and Production Forecast (2021-2032)
10.1.4.2. Market Revenue and Consumption Forecast (2021-2032)
10.2. Europe
10.2.1. Market Revenue and Production Forecast by Product (2021-2032)
10.2.2. Market Revenue and Consumption Forecast by Application (2021-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Production Forecast (2021-2032)
10.2.3.2. Market Revenue and Consumption Forecast (2021-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Production Forecast (2021-2032)
10.2.4.2. Market Revenue and Consumption Forecast (2021-2032)
10.2.5. France
10.2.5.1. Market Revenue and Production Forecast (2021-2032)
10.2.5.2. Market Revenue and Consumption Forecast (2021-2032)
10.2.6. Rest of EU
10.2.6.1. Market Revenue and Production Forecast (2021-2032)
10.2.6.2. Market Revenue and Consumption Forecast (2021-2032)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue and Production Forecast by Product (2021-2032)
10.3.2. Market Revenue and Consumption Forecast by Application (2021-2032)
10.3.3. China
10.3.3.1. Market Revenue and Production Forecast (2021-2032)
10.3.3.2. Market Revenue and Consumption Forecast (2021-2032)
10.3.4. India
10.3.4.1. Market Revenue and Production Forecast (2021-2032)
10.3.4.2. Market Revenue and Consumption Forecast (2021-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Production Forecast (2021-2032)
10.3.5.2. Market Revenue and Consumption Forecast (2021-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Production Forecast (2021-2032)
10.3.6.2. Market Revenue and Consumption Forecast (2021-2032)
10.4. LATAM
10.4.1. Market Revenue and Production Forecast by Product (2021-2032)
10.4.2. Market Revenue and Consumption Forecast by Application (2021-2032)
10.4.3. Brazil
10.4.3.1. Market Revenue and Production Forecast (2021-2032)
10.4.3.2. Market Revenue and Consumption Forecast (2021-2032)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue and Production Forecast (2021-2032)
10.4.4.2. Market Revenue and Consumption Forecast (2021-2032)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue and Production Forecast by Product (2021-2032)
10.5.2. Market Revenue and Consumption Forecast by Application (2021-2032)
10.5.3. GCC
10.5.3.1. Market Revenue and Production Forecast (2021-2032)
10.5.3.2. Market Revenue and Consumption Forecast (2021-2032)
10.5.4. North Africa
10.5.4.1. Market Revenue and Production Forecast (2021-2032)
10.5.4.2. Market Revenue and Consumption Forecast (2021-2032)
10.5.5. South Africa
10.5.5.1. Market Revenue and Production Forecast (2021-2032)
10.5.5.2. Market Revenue and Consumption Forecast (2021-2032)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue and Production Forecast (2021-2032)
10.5.6.2. Market Revenue and Consumption Forecast (2021-2032)

Chapter 11. Company Profiles

11.1. SABIC
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Production Capacity, Price, and Gross Margin
11.1.4. Recent Developments and Strategies
11.2. BASF SE
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Production Capacity, Price, and Gross Margin
11.2.4. Recent Developments and Strategies
11.3. Victrex Plc
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Production Capacity, Price, and Gross Margin
11.3.4. Recent Developments and Strategies
11.4. Evonik Industries AG
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Production Capacity, Price, and Gross Margin
11.4.4. Recent Developments and Strategies
11.5. EnsingerGmbh
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Production Capacity, Price, and Gross Margin
11.5.4. Recent Developments and Strategies
11.6. Lyondellbasell Industries Holdings B.V.
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Production Capacity, Price, and Gross Margin
11.6.4. Recent Developments and Strategies
11.7. Eastman Chemical Company
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Production Capacity, Price, and Gross Margin
11.7.4. Recent Developments and Strategies
11.8. Arkema S.A.
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Application
11.8.3. Revenue, Production Capacity, Price, and Gross Margin
11.8.4. Recent Developments and Strategies
11.9. Solvay S.A.
11.9.1. Company Overview, Business Information, Regional Presence
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Application
11.9.3. Revenue, Production Capacity, Price, and Gross Margin
11.9.4. Recent Developments and Strategies
11.10. Teijin Limited
11.10.1. Company Overview, Business Information, Regional Presence
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Application
11.10.3. Revenue, Production Capacity, Price, and Gross Margin
11.10.4. Recent Developments and Strategies

Chapter 12. Appendix

12.1. About Us
12.2. Glossary of Terms

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