Asia Pacific Plastic Market Size & Outlook, 2023-2030
Asia Pacific plastic market, 2018-2030 (US$M)
Related Markets
Asia Pacific plastic market highlights
- The Asia Pacific plastic market generated a revenue of USD 289,840.1 million in 2023.
- The market is expected to grow at a CAGR of 4.9% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2023.
- Medical Devices is the most lucrative end use segment registering the fastest growth during the forecast period.
- Country-wise, Australia is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 289,840.1 million |
| Market revenue in 2030 | USD 405,132.0 million |
| Growth rate | 4.9% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Medical Devices |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Construction, Electricals & Electronics, Automotive, Medical Devices, Agriculture, Furniture & Bedding, Consumer Goods, Utility |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Arkema SA, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Covestro AG, Toray Industries Inc, Mitsui & Co Ltd, Teijin Ltd, INEOS, LG Chem, Lanxess AG, CHIMEI, Huntsman Corp, LyondellBasell Industries NV Class A, Miller Waste Mills |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 45.4% of the global plastic market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 405,132.0 million by 2030.
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Plastic Market Scope
Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Asia Pacific plastic market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 35.35% in 2023. Horizon Databook has segmented the Asia Pacific plastic market based on packaging, construction, electricals & electronics, automotive, medical devices, agriculture, furniture & bedding, consumer goods, utility covering the revenue growth of each sub-segment from 2018 to 2030.
Southeast Asian countries such as Vietnam, Indonesia, Thailand; China; Japan; and India are expected to emerge as the primary growth markets for plastics in Asia Pacific over the forecast period.
Growing manufacturing sector is expected to propel the demand for plastic compounds in automotive, industrial machinery, construction, packaging, and electrical & electronics industries. In the recent past, India and China have witnessed a spike in automotive production owing to technology transfer to the sector from the Western markets.
In addition, a well-established manufacturing base for electrical & electronics in Taiwan, China, and South Korea is anticipated to provide further impetus to the plastics market. India has a strong chemical manufacturing industry base, which strengthens its plastic production.
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Target buyers of Asia Pacific plastic market databook
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Our clientele includes a mix of plastic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific plastic market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific plastic market size, by country, 2018-2030 (US$M)
Asia Pacific Plastic Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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