Resin Market to grow at a CAGR of 5.0% over the Forecast Period; Growing Demand for Resins from Numerous Industries to Propel Market Growth

The global resin market size stood at USD 593.94 billion in 2024. The market is estimated 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.

Fortune Business Insights™ presents this information in its report titled, “Resin Market Size, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, and Others), By End-use Industry (Packaging, Automotive & Transportation, Building & Construction, Consumer Goods/Lifestyle, Electrical & Electronics, Agriculture, and Others), and Regional Forecast, 2025-2032”. 

Resin is referred to as a highly viscous or solid ingredient that is derived from a plant source. It is also manufactured synthetically in a science laboratory. Organically, resins and related items are found in plants during their natural growth and are also secreted as a result of any cut to the plants. Additionally, there are various processes used in developing resinous materials artificially and transforming them into the end product. The growing demand for these products from sectors including automotive, food and beverage, and others contributes to the market growth.

The COVID-19 pandemic negatively impacted the market majorly due to a shortage of raw materials owing to the transportation and trade limitations in countries including China and India. This limited the production activities, thus decreasing the generation of output.

Commercialization of Key Products by Players to Fuel Market Development

In March 2023, one of the major players in the market, INEOS, through its subsidiary named INEOS Styrolution, declared the commercialization of its well-known product, K-Resin KR21. This is useful to different domestic appliance manufacturers in Asia, especially for refrigerator inliners.

Growing Need for Resins from Different Industries to Fuel Market Growth

The global resin market growth is attributed to the growing need for the product from industries including construction, packaging, medical, and automotive. Various beneficial properties of Resin, including thermoforming, moisture resistance, lightweight, resistance to other chemical reactions, higher flexural strength, and cost-effectiveness, make it highly suitable for use in multiple sectors. For instance, one of the well-known resin types used in medical devices, polypropylene (PP), offers chemical and moisture resistance and is capable of withstanding higher temperatures.

Conversely, the fluctuating prices of raw materials, including crude oil, are hindering market growth.

Top Players Emphasize Expanding Their Operational Capacity to Strengthen Their Market Presence

The global market is highly fragmented, with a wide array of key players operating in the market. These players are focusing on expanding their production capabilities for manufacturing higher-performing polymers and related compounds, leading to enhanced regional presence. Further, different strategies, including collaborations, new product launches, and research operations, are also adopted by these players to sustain the competition.

Notable Industry Development:

• October 2023: Arkema began manufacturing of specialty UV/LED curing resin known as Sartomer in Nansha, China, where the Group capitalized to surge the size by twofold as announced by the end of 2021.

List of the Companies Profiled in the Report:

• DuPont (U.S.)
• Arkema (France)
• BASF SE Germany)
• INEOS Holdings Ltd. (U.K.)
• Hexion (U.S.)
• Invista (U.S.)
• LyondellBasell (Netherlands)
• Mitsubishi Engineering-Plastics Corporation (Japan)
• Mitsui Chemicals (Japan)
• Nova Chemicals (Canada)
• Qenos (Australia)
• Radici Group (Italy)
• SABIC (Saudi Arabia)
• Repsol (Spain)
• Sumitomo Chemical Co. Ltd. (Japan)
• Teijin Limited (Japan)
• Tosoh Corporation (Japan)
• Toray Group (Japan)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/resin-market-101746

Further Report Findings

• Asia Pacific held the highest resin market share, owing to the presence of key plastic-producing and consuming nations, including India and China, in the region. Additionally, China is a hub for consumer goods manufacturing companies, thus leading the market.
• The market in North America is growing significantly due to the increasing demand for resins from the food & beverage and cosmetics industries. Additionally, major construction companies in the region highly depend on foams that are made from plastic resins for insulation applications.
• In terms of the end-use industry, the packaging segment dominated the market due to the growing need for efficient packaging solutions from industries including electrical & electronics, construction, consumer goods, and food & beverages.

Table of Segmentation