Product Code: CMI7279
The global plastic component market is estimated to be valued at USD 520.20 billion in 2024 and is expected to reach USD 798.34 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 520.20 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
6.30% |
2031 Value Projection: |
US$ 798.34 Bn |
Figure. Plastic Component Market Share (%), By Region 2024
Plastic components are basic building blocks made from plastics and polymers that are used in a wide range of industries including packaging, electrical & electronics, automobiles, construction, and consumer goods. Some common plastic components include bottles, containers, pipes, fittings, caps, closures, and liners. Plastics offer numerous advantages over traditional materials like metals and wood such as lightweight, resistance to corrosion, durability, and versatility in shape and form. Ongoing product innovation and material advancements aided by 3D printing are anticipated to drive wider commercialization of plastic components going forward. However, recycling and environmental concerns related to plastics remain challenges to be addressed.
Market Dynamics:
The global plastic component market is driven by factors such as growing packaging and construction industries, rising penetration of plastics in automotive manufacturing, and increasing consumer spending on household and personal care products. Plastics are increasingly replacing conventional materials in the automotive industry owing to advantages such as reduced vehicle weight and improved fuel efficiency. Additionally, 3D printing is enabling mass customization and on-demand production of complex plastic components for industrial and medical applications. However, stringent environmental regulations around plastic waste management and recycling act as a restraint for the market. Nevertheless, developments in bio-based and biodegradable plastics are opening new opportunities. Innovation in recycled plastics and adoption of circular economy principles also present growth prospects for sustainable plastic components over the forecast period.
Key Features of the Study:
- This report provides in-depth analysis of the global plastic component market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global plastic component market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Lanxess India Private Limited, Tata Autocomp Systems Limited, Elringklinger Automotive Components (india) Privat, Pennar Industries Limited, Minda Industries Limited, Samvardhana Motherson Group, Varroc Engineering Limited, Sona BLW Precision Forgings Limited, Sundram Fasteners Limited, Anand Group, Pricol Limited, Rane Group, Endurance Technologies Limited, Minda Corporation Limited, Sandhar Technologies Limited, Machino Plastics Limited, Lumax Industries Limited, Fiem Industries Limited, and Minda Kyoraku Limited
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global plastic component market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global plastic component market
Detailed Segmentation:
- Type of Plastic Insights (Revenue, USD Bn, 2019 - 2031)
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Engineering Plastics
- Application Insights (Revenue, USD Bn, 2019 - 2031)
- Automotive
- Consumer Goods
- Electronics
- Packaging
- Healthcare
- Others
- Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Lanxess India Private Limited
- Tata Autocomp Systems Limited
- Elringklinger Automotive Components (india) Privat
- Pennar Industries Limited
- Minda Industries Limited
- Samvardhana Motherson Group
- Varroc Engineering Limited
- Sona BLW Precision Forgings Limited
- Sundram Fasteners Limited
- Anand Group
- Pricol Limited
- Rane Group
- Endurance Technologies Limited
- Minda Corporation Limited
- Sandhar Technologies Limited
- Machino Plastics Limited
- Lumax Industries Limited
- Fiem Industries Limited
- Minda Kyoraku Limited
Table of Contents
1. RESEARCH OBJECTIVES AND ASSUMPTIONS
- Research Objectives
- Assumptions
- Abbreviations
2. MARKET PURVIEW
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Plastic Component Market, Type of Plastic
- Global Plastic Component Market, By Application
3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Plastic Component Market, Type of Plastic, 2024-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Polypropylene (PP)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Polyethylene (PE)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Polyvinyl Chloride (PVC)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Polystyrene (PS)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Acrylonitrile Butadiene Styrene (ABS)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Engineering Plastics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Global Plastic Component Market, By Application, 2024-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
- Automotive
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Consumer Goods
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Electronics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Packaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Healthcare
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Plastic Component Market, By Region, 2019 - 2031, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- U.S.
- Canada
- Latin America
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, Type of Plastic, 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application, 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
7. COMPETITIVE LANDSCAPE
- Lanxess India Private Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Tata Autocomp Systems Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Elringklinger Automotive Components (india) Privat
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Pennar Industries Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Minda Industries Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Samvardhana Motherson Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Varroc Engineering Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sona BLW Precision Forgings Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sundram Fasteners Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Anand Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Pricol Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Rane Group
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Endurance Technologies Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Minda Corporation Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Sandhar Technologies Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Machino Plastics Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Lumax Industries Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Fiem Industries Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Minda Kyoraku Limited
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
8. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
9. References and Research Methodology
- References
- Research Methodology
- About us