"We Envision Growth Strategies Most Suited
to Your Business"

Resin Market to Reach USD 752.26 Billion by 2029; Increasing Adoption of Packaging Solutions from Several Sectors to Propel Market Progress

November 18, 2022 | Chemicals & Materials

The global resin market size is expected to exhibit strong growth by reaching USD 752.26 billion by 2029. Fortune Business Insights™ in its report titled “Resin Market Size, Share & COVID-19 Impact 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, 2022-2029” observes that the market size in 2021 stood at USD 528.55 billion and touched USD 533.55 billion in 2022. The market exhibited a CAGR of 4.5% during 2022-2029. Positive growth of the packaging sector and rising adoption of packaging solutions are expected to foster market progress.


LyondellBasell and Neste Enter into Agreements to Improve Product Offerings


LyondellBasell and Neste entered into agreements in June 2021 to produce feedstock from bio-based sources such as waste, fats, and oil residues. The feedstock will be processed in LyondellBasell’s Wesseling, Germany, plant’s cracker and shall be sold under the CirculenRenew brand. This strategy may enable the company to improve its product offerings and boost sales.


Increasing Awareness Regarding the Material’s Properties to Boost Industry Growth


Resin is a packaging material that offers excellent protection to goods. The increasing awareness regarding the properties of the material may elevate its adoption. Further, the increasing adoption of the material from the food & beverage, pharmaceutical, consumer goods, and e-commerce is expected to fuel the product’s sales. Moreover, rising awareness regarding the cost-effective, lightweight, and chemical-resistant properties of the material may enhance the material’s adoption. In addition, rising technological advancements and research & development may foster the production and adoption of packaging material. These factors may drive the resin market growth.


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


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


Major Players Launch New Services to Elevate their Brand Image


The prominent companies operating in the market launch novel services to boost their brand image. For example, BASF launched its novel RegXcellence service for regulatory excellence for plastic additives in February 2022. This launch may allow BASF to boost its brand image and improve its sales figures. Moreover, companies devise research and development, mergers, acquisitions, innovations, partnerships, expansions, and industrial automation to boost their market position.


Notable Industry Development



  • June 2021- Rassini chose Hexion’s EPIKOTE Resin TRAC 06150 with EPIKURE Curing Agent TRAC 06150 Epoxy resin since it opens opportunities for the mass production of composite helper springs.


List of Key Players 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)


Further Report Findings



  • The market in Asia Pacific stood at USD 264.58 billion in 2021 and is expected to gain a huge portion of the global resin market share in the coming years. The presence of crucial plastic-producing countries is expected to foster the industry’s progress.

  • Furthermore, the increasing demand for smartphones, televisions, and laptops is estimated to propel industry growth.

  • In Europe, the rising demand for plastics in the automotive sector may boost resin adoption.


Table of Segmentation


















































  ATTRIBUTE



 DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion), Volume (Million Ton)



Segmentation



By Type, End-use Industry, and Geography



By Type




  • Polyethylene

  • Polypropylene

  • Polyethylene Terephthalate

  • Polyvinyl Chloride

  • Acrylonitrile Butadiene Styrene

  • Polyamide

  • Polycarbonate

  • Polyurethane

  • Polystyrene

  • Others



By End-Use Industry




  • Packaging

  • Automotive & Transportation

  • Building & Construction

  • Consumer Goods/Lifestyle

  • Electrical & Electronics

  • Agriculture

  • Others



By Geography




  • North America (By Type, By End-use Industry, By Country)

    • U.S.

    • Canada



  • Europe (By Type, By End-use Industry, By Country)

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Rest of Europe



  • Asia Pacific (By Type, By End-use Industry, By Country)

    • China

    • India

    • Japan

    • South Korea

    • Rest of Asia Pacific



  • Latin America (By Type, By End-use Industry, By Country)

    • Brazil

    • Argentina

    • Mexico

    • Rest of Latin America



  • Middle East & Africa (By Type, By End-use Industry, By Country)

    • Saudi Arabia

    • South Africa

    • Rest of Middle East & Africa




Global Resin Market
  • PDF
  • 2021
  • 2018-2020
  • 280

    CHOOSE LICENSE TYPE

  • 4850
    5850
    7850

Our Clients

Kaman
Samsung
Ipsos
Topcon
Fujitsu
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X