All updated as on -
The worldwide resin market was worth $533.58 billion in 2022 and is expected to reach $787.37 billion in 2030, expanding from $559.2 billion in 2023 at a CAGR of 6.0%.
Resin can be made synthetically in a lab or extracted from plants and is often solid or highly viscous. The automotive and electronics sectors as well as the consumer goods and agricultural sectors make heavy use of these resins. The resin market is expected to expand due to rising demand for polypropylene in the automotive and construction sectors. Increases in disposable income have fuelled demand for personal automobiles, which in turn has propelled the expansion of the automotive sector. In addition, the pharmaceutical, consumer goods, e-commerce, food & beverage, and other industries' rising demand for packaging solutions will fuel market expansion.
The aerospace industry has also seen a spike in demand for Resin, as it is increasingly used in the construction of aeroplane skins and helicopter rotors. The global resin market is expanding at a rapid rate because of the increasing demand for resin in the aerospace industry due to the material's light weight, strength, and resistance to heat and pressure. During the projected period, the aerospace industry is anticipated to be a major driver of the Resin market growth. Epoxy resins are used to keep solar panels safe from weather changes. Epoxies are less expensive, simpler to use, and need less labour to apply. The great creep resistance and high tensile strength of epoxy thermosets are put to use strengthening the blades. The wind energy industry has expanded its need for Resins since the outcomes of mixing Resins with various toughening agents and applying them to the blades have shown positive results towards making the blades corrosion resistant and fatigue proof. However, the manufacturing cost of Resin is affected by fluctuations in the price of raw materials, which may hinder the market's development throughout the anticipated time period.
Form, kind, end use, application, and geography are the primary divisions of the Resin market. It's separated into solid and liquid categories based on its physical state. There are many different kinds, and they are categorised as DGBEA, DGBEF, novolac, aliphatic, glycidylamine, and so on. It is broken down into categories such as transportation, general industry, consumer goods, wind power, aviation, and maritime use. Paints and coatings, adhesives and sealants, composites, electronic encapsulation, and other uses make up the application-based divisions. North America, Europe, Asia-Pacific, and Latin America and the Caribbean are all examined. The global Resin market is broken down into large regions and nations.
During the projection period, the market should benefit from the packaging industry's rapid expansion and the rising demand for packaging solutions from the pharmaceutical, food & beverage, consumer products, and e-commerce sectors. Films, trays, corrugated boxes, rigid boxes, poly bags, and foil-sealed bags are all examples of plastics that are commonly used for the packaging of a wide range of items. As a result of globalisation, more goods are being shipped to and from different countries. The need for plastic packaging has increased as a result of the rise in online sales of pharmaceutical and electrical and electronic products. In addition, the rising popularity of ready-to-eat meals and frozen dinners has made flexible packaging increasingly attractive to the food and beverage industry. The packaging solutions market should benefit from this, leading to more plastics demand.
As a result of rising demand from numerous sectors, including the automotive, construction, packaging, and medical sectors, the market is expanding significantly. Because of desirable characteristics such as low weight, resilience to chemicals and moisture, ease of thermoforming, high flexural strength, low cost, and versatility, their application is widespread across a variety of industries. Polypropylene, for instance, is resistant to moisture and chemicals and can endure high temperatures. As a result, there will be a greater need for PP in the medical sector, where it is widely used in a wide variety of medical devices. In addition, the expanding e-commerce business is having a significant impact on the packaging industry because of customers' changing preferences and the rising popularity of online purchasing. The volatility in crude oil prices, which in turn affects the overall prices of resins, is a key challenge limiting the expansion of the market. By-products of oil and natural gas extraction are the primary source of the petrochemical feedstocks used to manufacture plastic resins. The significant changes in oil prices have a major impact on the pricing of these feedstocks. Laws of supply and demand, natural disasters, and changes in production costs all have a role in determining oil prices. As a result, this poses a threat to the expansion of the resin market as a whole. Market expansion would be hampered by tough environmental rules implemented by various countries to decrease plastic consumption. More than ninety-nine percent of plastics are created from chemicals derived from oil, natural gas, and coal, all of which are harmful and non-renewable resources, according to the UN Environment Programme (UNEP) alliance. Humans, wildlife, and their ecosystems are all negatively impacted by this material.
Report Coverage
Global Resin research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Resin report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Resin competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Resin market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Resin market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Resin market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Resin market based on the below-mentioned segments:
Global Resin Market, By Type
Polyethylene
Polypropylene
Polyethylene Terephthalate
Polyvinyl Chloride
Acrylonitrile Butadiene Styrene
Polyamide
Polycarbonate
Polyurethane
Polystyrene
Others
Global Resin Market, By End User
Packaging
Automotive & Transportation
Building & Construction
Consumer Goods/Lifestyle
Electrical & Electronics
Agriculture
Others
Global Resin market, Regional Analysis
Resin can be made synthetically in a lab or extracted from plants and is often solid or highly viscous. The automotive and electronics sectors as well as the consumer goods and agricultural sectors make heavy use of these resins. The resin market is expected to expand due to rising demand for polypropylene in the automotive and construction sectors. Increases in disposable income have fuelled demand for personal automobiles, which in turn has propelled the expansion of the automotive sector. In addition, the pharmaceutical, consumer goods, e-commerce, food & beverage, and other industries' rising demand for packaging solutions will fuel market expansion.
The aerospace industry has also seen a spike in demand for Resin, as it is increasingly used in the construction of aeroplane skins and helicopter rotors. The global resin market is expanding at a rapid rate because of the increasing demand for resin in the aerospace industry due to the material's light weight, strength, and resistance to heat and pressure. During the projected period, the aerospace industry is anticipated to be a major driver of the Resin market growth. Epoxy resins are used to keep solar panels safe from weather changes. Epoxies are less expensive, simpler to use, and need less labour to apply. The great creep resistance and high tensile strength of epoxy thermosets are put to use strengthening the blades. The wind energy industry has expanded its need for Resins since the outcomes of mixing Resins with various toughening agents and applying them to the blades have shown positive results towards making the blades corrosion resistant and fatigue proof. However, the manufacturing cost of Resin is affected by fluctuations in the price of raw materials, which may hinder the market's development throughout the anticipated time period.
Form, kind, end use, application, and geography are the primary divisions of the Resin market. It's separated into solid and liquid categories based on its physical state. There are many different kinds, and they are categorised as DGBEA, DGBEF, novolac, aliphatic, glycidylamine, and so on. It is broken down into categories such as transportation, general industry, consumer goods, wind power, aviation, and maritime use. Paints and coatings, adhesives and sealants, composites, electronic encapsulation, and other uses make up the application-based divisions. North America, Europe, Asia-Pacific, and Latin America and the Caribbean are all examined. The global Resin market is broken down into large regions and nations.
During the projection period, the market should benefit from the packaging industry's rapid expansion and the rising demand for packaging solutions from the pharmaceutical, food & beverage, consumer products, and e-commerce sectors. Films, trays, corrugated boxes, rigid boxes, poly bags, and foil-sealed bags are all examples of plastics that are commonly used for the packaging of a wide range of items. As a result of globalisation, more goods are being shipped to and from different countries. The need for plastic packaging has increased as a result of the rise in online sales of pharmaceutical and electrical and electronic products. In addition, the rising popularity of ready-to-eat meals and frozen dinners has made flexible packaging increasingly attractive to the food and beverage industry. The packaging solutions market should benefit from this, leading to more plastics demand.
As a result of rising demand from numerous sectors, including the automotive, construction, packaging, and medical sectors, the market is expanding significantly. Because of desirable characteristics such as low weight, resilience to chemicals and moisture, ease of thermoforming, high flexural strength, low cost, and versatility, their application is widespread across a variety of industries. Polypropylene, for instance, is resistant to moisture and chemicals and can endure high temperatures. As a result, there will be a greater need for PP in the medical sector, where it is widely used in a wide variety of medical devices. In addition, the expanding e-commerce business is having a significant impact on the packaging industry because of customers' changing preferences and the rising popularity of online purchasing. The volatility in crude oil prices, which in turn affects the overall prices of resins, is a key challenge limiting the expansion of the market. By-products of oil and natural gas extraction are the primary source of the petrochemical feedstocks used to manufacture plastic resins. The significant changes in oil prices have a major impact on the pricing of these feedstocks. Laws of supply and demand, natural disasters, and changes in production costs all have a role in determining oil prices. As a result, this poses a threat to the expansion of the resin market as a whole. Market expansion would be hampered by tough environmental rules implemented by various countries to decrease plastic consumption. More than ninety-nine percent of plastics are created from chemicals derived from oil, natural gas, and coal, all of which are harmful and non-renewable resources, according to the UN Environment Programme (UNEP) alliance. Humans, wildlife, and their ecosystems are all negatively impacted by this material.
Report Coverage
Global Resin research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Resin report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Resin competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Resin market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Resin Market from 2021 to 2030.
- Market Forecast for Resin Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Resin competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Resin
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Resin market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Resin market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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)
Primary Target Market
- Market Players of Resin
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Resin market based on the below-mentioned segments:
Global Resin Market, By Type
Polyethylene
Polypropylene
Polyethylene Terephthalate
Polyvinyl Chloride
Acrylonitrile Butadiene Styrene
Polyamide
Polycarbonate
Polyurethane
Polystyrene
Others
Global Resin Market, By End User
Packaging
Automotive & Transportation
Building & Construction
Consumer Goods/Lifestyle
Electrical & Electronics
Agriculture
Others
Global Resin market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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