China Plastic Resin Market Size & Outlook, 2023-2030
China plastic resin market, 2018-2030 (US$M)
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China plastic resin market highlights
- The China plastic resin market generated a revenue of USD 15,099.9 million in 2023 and is expected to reach USD 65,556.3 million by 2030.
- The China 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.
Plastic resin market data book summary
| Market revenue in 2023 | USD 15,099.9 million |
| Market revenue in 2030 | USD 65,556.3 million |
| Growth rate | 23.3% (CAGR from 2023 to 2030) |
| Largest segment | Polystyrene foam |
| Fastest growing segment | Melamine Foam |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, China accounted for 11.1% of the global plastic resin market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China plastic resin market is projected to lead the regional market in terms of revenue in 2030.
- Singapore is the fastest growing regional market in Asia Pacific and is projected to reach USD 25,065.9 million by 2030.
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Plastic Resin Market Scope
Plastic Resin Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 28.26% in 2023. Horizon Databook has segmented the China 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.
China emerged as the leading plastic resins manufacturer in 2020 globally. The country is self-sufficient in terms of plastic production with presence of adequate number of plants and production capacities required to fulfill the local demand. Moreover, China supplies PET, PVC, and other types of plastics to neighboring countries due to a large production base.
The country also recycles a significant amount of waste plastic into various products such as fibers, sheets, and films among others. China was one of the leading countries in terms of recycling rates as of 2020. According to the Ministry of Commerce, in 2017, the country recycled 282 million tons of plastic, steel, and non-ferrous metal, which was an increase of 11% as compared to 2016.
Later in January 2018, the country implemented the policy to ban the solid waste import from in line with the government policy to increase the rate of domestic plastic waste recycling. In 2020, China was the second leading FDI destination for companies in the plastic industry value chain globally.
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Target buyers of China plastic resin market databook
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Our clientele includes a mix of plastic resin 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 country-level data and insights on the China plastic resin market , including forecasts for subscribers. This country databook contains high-level insights into China plastic resin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China plastic resin market size, by type, 2018-2030 (US$M)
China Plastic Resin Market Outlook Share, 2023 & 2030 (US$M)
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