Asia Pacific Plastic Resin Market Size & Outlook
Asia Pacific plastic resin market, 2018-2030 (US$M)
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Asia Pacific plastic resin market highlights
- The Asia Pacific plastic resin market generated a revenue of USD 54,551.9 million in 2023.
- The market is expected to grow at a CAGR of 23.3% from 2024 to 2030.
- In terms of segment, polystyrene foam was the largest revenue generating type in 2023.
- Melamine Foam is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Singapore is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 54,551.9 million |
| Market revenue in 2030 | USD 236,918.3 million |
| Growth rate | 23.3% (CAGR from 2023 to 2030) |
| Largest segment | Polystyrene foam |
| Fastest growing segment | Melamine Foam |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyurethane Foam, Polystyrene Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam, Other Types |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Toray Industries Inc, Mitsui Chemicals Inc, Teijin Ltd, LG Chem, Avient Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 40.2% of the global plastic resin 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 236,918.3 million by 2030.
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Plastic Resin Market Scope
Plastic Resin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific plastic resin 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 resin market will help companies and investors design strategic landscapes.
Polystyrene foam was the largest segment with a revenue share of 32.16% in 2023. Horizon Databook has segmented the Asia Pacific plastic resin market based on polyurethane foam, polystyrene foam, pvc foam, phenolic foam, polyolefin foam, melamine foam, other types 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 plastic resins in Asia over the forecast period. Growing manufacturing sector is expected to propel the demand for plastic resins 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 plastic resins market.
India has a strong chemical manufacturing industry base, which strengthens its plastic production. Rapid urbanization, improving economic conditions, and increasing infrastructural activities are the factors supporting the growth of the plastic resins market in Asia.
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Our clientele includes a mix of plastic resin market companies, investment firms, advisory firms & academic institutions.
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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 resin market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific plastic resin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific plastic resin market size, by country, 2018-2030 (US$M)
Asia Pacific Plastic Resin Market Outlook Share, 2023 & 2030 (US$M)
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