Global Resin Market is valued at approximately USD 556 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5% over the forecast period 2024-2032. Resin, a highly viscous or solid substance, can be derived from natural plant sources or manufactured synthetically in laboratories. Due to their lightweight, chemical resistance, and high flexural strength properties, these resinous materials play a crucial role in various end-use industries, including automotive, packaging, construction, and medical. The demand for resins is further bolstered by their increasing adoption in the production of essential items such as face masks, gloves, and PPE kits, especially during the COVID-19 pandemic.
The market is poised for significant growth driven by the rapid expansion of the packaging, pharmaceutical, food & beverage, consumer goods, and e-commerce sectors. In response to consumer demand and legislative trends, there is a growing emphasis on sustainable raw materials. This shift has increased demand for high-solid and water-based resins, significantly reducing volatile organic solvent emissions. Moreover, the green economy movement and focus on sustainability have encouraged many thermoset resin manufacturers to turn towards bio-based products, using feedstocks such as corn and soybeans. Companies like SABIC are leading the way by launching bio-based versions of their resin grades to meet rigorous sustainability goals. However, the market faces challenges such as the fluctuation of crude oil prices, which impacts the cost of petrochemical feedstock used in resin production. Environmental regulations aimed at reducing plastic consumption and the overuse of non-renewable resources also pose potential restraints to market growth. Governments worldwide are imposing restrictions on the use of crude oil and petroleum, creating supply-demand imbalances that can hinder the ability to meet end-user demands.
The key regions considered for the Global Resin Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is a dominating region in the Global Resin Market in terms of revenue. The market growth in the region is being attributed to factors including the presence of major plastic-producing countries like China and India. The region's growth is supported by the availability of raw materials and low production costs. Whereas, the market in North America is anticipated to grow at the fastest rate over the forecast period fueled by high demand for packaging in the food & beverage and cosmetics industries, coupled with stringent regulations regarding plastic quality.
Major market players included in this report are:
- 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)
The detailed segments and sub-segments of the market are explained below:
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 Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Resin Market Executive Summary
- 1.1. Global Resin Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By End-use Industry
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Resin Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Resin Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Growing Demand from End-use Industries
- 3.1.2. Adoption of Green Initiatives for Production
- 3.2. Market Challenges
- 3.2.1. Fluctuation in Crude Oil Prices
- 3.2.2. Stringent Environmental Regulations
- 3.3. Market Opportunities
- 3.3.1. Development of Bio-based Products
- 3.3.2. Expansion in Emerging Markets
Chapter 4. Global Resin Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top Investment Opportunity
- 4.4. Top Winning Strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Resin Market Size & Forecasts by Type 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Resin Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Polyethylene
- 5.2.2. Polypropylene
- 5.2.3. Polyethylene Terephthalate
- 5.2.4. Polyvinyl Chloride
- 5.2.5. Acrylonitrile Butadiene Styrene
- 5.2.6. Polyamide
- 5.2.7. Polycarbonate
- 5.2.8. Polyurethane
- 5.2.9. Polystyrene
- 5.2.10. Others
Chapter 6. Global Resin Market Size & Forecasts by End-use Industry 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Resin Market: End-use Industry Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Packaging
- 6.2.2. Automotive & Transportation
- 6.2.3. Building & Construction
- 6.2.4. Consumer Goods/Lifestyle
- 6.2.5. Electrical & Electronics
- 6.2.6. Agriculture
- 6.2.7. Others
Chapter 7. Global Resin Market Size & Forecasts by Region 2022-2032
- 7.1. North America Resin Market
- 7.1.1. U.S. Resin Market
- 7.1.1.1. Type breakdown size & forecasts, 2022-2032
- 7.1.1.2. End-use Industry breakdown size & forecasts, 2022-2032
- 7.1.2. Canada Resin Market
- 7.2. Europe Resin Market
- 7.2.1. U.K. Resin Market
- 7.2.2. Germany Resin Market
- 7.2.3. France Resin Market
- 7.2.4. Spain Resin Market
- 7.2.5. Italy Resin Market
- 7.2.6. Rest of Europe Resin Market
- 7.3. Asia-Pacific Resin Market
- 7.3.1. China Resin Market
- 7.3.2. India Resin Market
- 7.3.3. Japan Resin Market
- 7.3.4. Australia Resin Market
- 7.3.5. South Korea Resin Market
- 7.3.6. Rest of Asia Pacific Resin Market
- 7.4. Latin America Resin Market
- 7.4.1. Brazil Resin Market
- 7.4.2. Mexico Resin Market
- 7.4.3. Rest of Latin America Resin Market
- 7.5. Middle East & Africa Resin Market
- 7.5.1. Saudi Arabia Resin Market
- 7.5.2. South Africa Resin Market
- 7.5.3. Rest of Middle East & Africa Resin Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. DuPont
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Market Strategies
- 8.3.2. Arkema
- 8.3.3. BASF SE
- 8.3.4. INEOS Holdings Ltd.
- 8.3.5. Hexion
- 8.3.6. Invista
- 8.3.7. LyondellBasell
- 8.3.8. Mitsubishi Engineering-Plastics Corporation
- 8.3.9. Mitsui Chemicals
- 8.3.10. Nova Chemicals
- 8.3.11. Qenos
- 8.3.12. Radici Group
- 8.3.13. SABIC
- 8.3.14. Repsol
- 8.3.15. Sumitomo Chemical Co. Ltd.
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes