Singapore Plastic Resin Market Size & Outlook, 2023-2030
Singapore plastic resin market, 2018-2030 (US$M)
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Singapore plastic resin market highlights
- The Singapore plastic resin market generated a revenue of USD 5,129.4 million in 2023 and is expected to reach USD 25,065.9 million by 2030.
- The Singapore market is expected to grow at a CAGR of 25.4% from 2024 to 2030.
- In terms of segment, polystyrene foam was the largest revenue generating type in 2023.
- PVC 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 5,129.4 million |
| Market revenue in 2030 | USD 25,065.9 million |
| Growth rate | 25.4% (CAGR from 2023 to 2030) |
| Largest segment | Polystyrene foam |
| Fastest growing segment | PVC 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, Singapore accounted for 3.8% 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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Singapore 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 34.88% in 2023. Horizon Databook has segmented the Singapore 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.
The plastic resin industry in Singapore has evolved robustly from past decade. Singapore is highly dependent on the single use plastics particularly polypropylene items, plastic bags, and Polyethylene terephthalate bottles.
The Singapore government has implemented several initiatives such as dedicated recyclable collectors, region wide plastic recycling hub, use of shredded plastic for 3D printing, and public-private partnerships of waste to energy facilities. Polyethylene is expected to be one of the fastest-growing segments in the Singapore plastic resins market due to its high demand from in the manufacturing of the plastic bags.
In 2019 around 820 million plastic bags were consumed in Singapore. The consumption of PET has also increased robustly in Singapore. PET bottles are one the key application in which PET is consumed on a large extent. In 2019 more than 467 million PET bottles were consumed in Singapore.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Singapore plastic resin market , including forecasts for subscribers. This country databook contains high-level insights into Singapore plastic resin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Singapore plastic resin market size, by type, 2018-2030 (US$M)
Singapore Plastic Resin Market Outlook Share, 2023 & 2030 (US$M)
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