Latin America Plastic Resin Market Size & Outlook
Latin America plastic resin market, 2018-2030 (US$M)
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Latin America plastic resin market highlights
- The Latin America plastic resin market generated a revenue of USD 6,421.8 million in 2023.
- The market is expected to grow at a CAGR of 22.1% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 6,421.8 million |
| Market revenue in 2030 | USD 26,010.6 million |
| Growth rate | 22.1% (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, Latin America region accounted for 4.7% 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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Latin America 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 30.21% in 2023. Horizon Databook has segmented the Latin America 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.
Increase in construction activity, particularly in Brazil and Chile, is expected to propel the demand for plastic resins 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 plastic resins.
Furthermore, growing automobile sales have prompted an increase in the regional demand for lightweight plastic resins, thereby driving the market for plastic resins. In terms of the consumption of plastic resins, packaging was one of the largest applications in CSA in 2020. High demand for plastic resins in automotive, consumer goods, and packaging industries is creating new opportunities for the growth of the plastic resins market.
Ascending consumption of packaged food products such as frozen meals, snacks, and ready-to-eat food in the region owing to changing consumer preferences is expected to propel the demand for plastic in food & beverage packaging application.
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Our clientele includes a mix of plastic resin market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America plastic resin market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America plastic resin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America plastic resin market size, by country, 2018-2030 (US$M)
Latin America Plastic Resin Market Outlook Share, 2023 & 2030 (US$M)
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