Latin America Plastic Market Size & Outlook, 2023-2030
Latin America plastic market, 2018-2030 (US$M)
Related Markets
Latin America plastic market highlights
- The Latin America plastic market generated a revenue of USD 29,985.5 million in 2023.
- The market is expected to grow at a CAGR of 4.1% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 29,985.5 million |
| Market revenue in 2030 | USD 39,801.1 million |
| Growth rate | 4.1% (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, Latin America region accounted for 4.7% 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 |
|---|
Latin America 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 Latin America 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.
Increase in construction activity, particularly in Brazil and Chile, is expected to propel the demand for plastics in Central & South America. Rising consumer disposable income along with rapid infrastructure development in the region is expected to drive construction industry, in turn, steering the demand for plastics.
Rising coronavirus positive cases in Brazil, Argentina, Chile, Colombia, and others are propelling the demand for medical devices such as ventilators, testing equipment, masks, medical bags, beds gloves, medical containers, and others.
The demand for plastics in the CSA region is mainly driven by increasing consumption of food & nonfood bottles & containers and automotive components. Increasing per capita income coupled with the growing consumer goods industry is expected to impact demand for automotive and other consumer goods.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America plastic market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America plastic market size, by country, 2018-2030 (US$M)
Latin America Plastic Market Outlook Share, 2023 & 2030 (US$M)
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