The global Industrial Plastic Market is expected to grow at the highest CAGR of 4.9% from 2020 – 2027 and the market is projected to generate $ 109.20 billion by 2027.
Precedence Research, Recently Published Report on “Industrial Plastic Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
Industrial plastic is a synthetic compound that are largely used in the various industrial applications that include automotive, packaging, electronics & electrical, construction, healthcare, aerospace & defense, and many other industries. Advanced properties offered by these plastics such as moldability, high tensile strength, and excellent mechanical properties makes them favorable for the industrial applications. Some of the industrial plastics are categorized as Acrylonitrile Butadiene Styrene (ABS), Polyphenylene Ether, Polybutylene Terephthalate (PBT), Polyamide, PEEK, Polysulfone (PSU), Liquid Crystal Polymers, Polyphenylsulfone (PPSU), Polytetrafluoroethylene (PTFE), Polyetherimide, and Polycarbonate.
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Growth Factors
Increasing application of plastic materials in packaging, construction, healthcare, transportation, electronics, and many other industries expected to propel the demand for the product over the coming years. Changing purchasing trend from offline to online along with eating habits have prominently triggered the growth of packaging industry over the recent past and expected to influence the market growth as well in the near future. Further, increasing innovations in the electronics & electrical industry has opened up new horizons for the plastic manufacturers to gain significant foothold in the end-use sector.
Apart from the sluggish growth of automotive industry, growing emphasis towards lighter vehicles and electric cars projected to provide new opportunities to the industrial plastic manufacturers over the coming years. Strict regulatory policies by the governments of several regions have further favored the industry growth for industrial plastics.
Report Highlights
- The Asia Pacific captured the major market share in terms of value in 2019 and expected to continue the same trend over the coming years due to well-established manufacturing base in the region
- Stringent government regulations for chemical industries in Europe estimated to provide alluring opportunities for renewable and environment-friendly plastic materials in the region
- In respect to revenue, polyamide captured the largest segment share in 2019 accounting for nearly 40% owing to its attractive properties such as dimensional stability, sliding friction, rigidity, and chemical resistance
- Polycarbonate exhibits lucrative growth during the forthcoming years because of its significant demand from transportation and electrical & electronics sectors
- Automotive is a major application segment for the industrial plastics owing to its notable contribution in the weight reduction of a vehicle
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Regional Snapshots
The Asia Pacific is the major market for industrial plastics across the globe and anticipated to retain its dominant position over the forthcoming years. Shifting manufacturing bases of several industries owing to reduced cost of raw material and labor that further reduces the overall production cost and increases the profit ratio to the manufacturers expected to be a major factor that propels the market growth in the region. Further, rising demand for personal transportation system due to rise in the disposable income and purchasing power of the consumer predicted to further drive the market for the Asia Pacific.
Europe market witnesses a slow growth over the past timeframe and expected to recover its growth in the coming years. Stringent emission norms for the industries particularly for the chemical industry expected to be the major factors restricts the market growth in the region. However, significant demand from the automotive industry as a substitute of heavy components is likely to further prosper the market growth in the region.
On the contrary, recent outbreak of COVID-19 in the staring of 2020 anticipated to hinder the product demand primarily in electrical & electronics, automotive, construction, and consumer goods applications. The outbreak has further resulted in the restrictions on supply & transport, halt or slowdown in manufacturing processes, and infrastructure slowdown that expected to have a negative impact on the demand for industrial plastics in the coming years.
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Key Players & Strategies
The market players operating in the global industrial plastics market are facing stiff competition from their competitors owing to high variations in the product offerings and an on-going trend to collaborate raw material production facility with the distribution channel to enhance the product quality. Increasing demand for the environment-friendly plastics from numerous end-use industries is likely to offer immense growth opportunity for the industry players along with strengthening their foothold in the market. In addition, the companies are also investing prominently in the research &development activities to develop new and advanced industrial plastic products to sustain the market competition as well as rapidly changing consumer requirements.
Some of the key players operating in the market are SABIC, BASF SE, Victrex Plc, Evonik Industries AG, Ensinger Gmbh, Lyondellbasell Industries Holdings B.V., Eastman Chemical Company, Arkema S.A., Solvay S.A., Teijin Limited, Formosa Plastics Corporation, Mitsubishi Engineering-Plastics Corporation, Toray Industries, Inc., Covestro AG, and Mitsui & Co., Ltd. among others.
Market Segmentation
By Product
- Acrylonitrile Butadiene Styrene (ABS)
- Polyphenylene Ether
- Polybutylene Terephthalate (PBT)
- Polyamide
- PEEK
- Polysulfone (PSU)
- Liquid Crystal Polymers
- Polyphenylsulfone (PPSU)
- Polytetrafluoroethylene (PTFE)
- Polyetherimide
- Polycarbonate
- Others
By Application
- Building & Construction
- Packaging
- Electrical & Electronics
- Healthcare
- Automotive & Transportation
- Aerospace
- Others
By Regional Outlook
- North America
° U.S.
° Canada
- Europe
° U.K.
° Germany
° France
- Asia Pacific
° China
° India
° Japan
° South Korea
- Rest of the World
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Industrial Plastic Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Industrial Plastic Market
5.1. Covid-19: Industrial Plastic Industry Impact
5.2. Industrial Plastic Business Impact Assessment: Covid-19
5.2.1. Supply Chain Challenges/Disruption
5.2.2. Market Trends and Industrial Plastic Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Industrial Plastic Manufacturers to deal with Covid-19 Pandemic Scenario
Chapter 6. Industrial Plastic Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Significant Demand of Plastic as an Alternative of Glass and Metal
6.1.2. Market Restraints
6.1.2.1. Volatile Prices of Raw Materials
6.1.3. Market Opportunities
6.1.3.1. Increasing Demand from Various End-use Industries
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Global Industrial Plastic Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Industrial Plastic Market Revenue by Manufacturer (2015-2020)
7.1.1.2. Industrial Plastic Market Revenue Market Share by Manufacturer (2015-2020)
7.1.1.3. Industrial Plastic Market Production by Manufacturer (2015-2020)
7.1.1.4. Industrial Plastic Market Production Market Share by Manufacturer (2015-2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio Expansion, Capacity Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Manufacturers Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Industrial Plastic Market, By Product
8.1. Industrial Plastic Market, by Product, 2016-2027
8.1.1. Acrylonitrile Butadiene Styrene (ABS)
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.1.2. Market Production and Forecast (2016-2027)
8.1.2. Polyphenylene Ether
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.2.2. Market Production and Forecast (2016-2027)
8.1.3. Polybutylene Terephthalate (PBT)
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.3.2. Market Production and Forecast (2016-2027)
8.1.4. Polyamide
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.4.2. Market Production and Forecast (2016-2027)
8.1.5. PEEK
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.5.2. Market Production and Forecast (2016-2027)
8.1.6. Polysulfone (PSU)
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.6.2. Market Production and Forecast (2016-2027)
8.1.7. Liquid Crystal Polymers
8.1.7.1. Market Revenue and Forecast (2016-2027)
8.1.7.2. Market Production and Forecast (2016-2027)
8.1.8. Polyphenylsulfone (PPSU)
8.1.8.1. Market Revenue and Forecast (2016-2027)
8.1.8.2. Market Production and Forecast (2016-2027)
8.1.9. Polytetrafluoroethylene (PTFE)
8.1.9.1. Market Revenue and Forecast (2016-2027)
8.1.9.2. Market Production and Forecast (2016-2027)
8.1.10. Polyetherimide
8.1.10.1. Market Revenue and Forecast (2016-2027)
8.1.10.2. Market Production and Forecast (2016-2027)
8.1.11. Polycarbonate
8.1.11.1. Market Revenue and Forecast (2016-2027)
8.1.11.2. Market Production and Forecast (2016-2027)
8.1.12. Others
8.1.12.1. Market Revenue and Forecast (2016-2027)
8.1.12.2. Market Production and Forecast (2016-2027)
Chapter 9. Global Industrial Plastic Market, By Application
9.1. Industrial Plastic Market, by Application, 2016-2027
9.1.1. Building & Construction
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.1.2. Market Consumption and Forecast (2016-2027)
9.1.2. Packaging
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.2.2. Market Consumption and Forecast (2016-2027)
9.1.3. Electrical & Electronics
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.3.2. Market Consumption and Forecast (2016-2027)
9.1.4. Healthcare
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.4.2. Market Consumption and Forecast (2016-2027)
9.1.5. Automotive & Transportation
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.5.2. Market Consumption and Forecast (2016-2027)
9.1.6. Aerospace
9.1.6.1. Market Revenue and Forecast (2016-2027)
9.1.6.2. Market Consumption and Forecast (2016-2027)
9.1.7. Others
9.1.7.1. Market Revenue and Forecast (2016-2027)
9.1.7.2. Market Consumption and Forecast (2016-2027)
Chapter 10. Global Industrial Plastic Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Production Forecast by Product (2016-2027)
10.1.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.1.3. U.S
10.1.3.1. Market Revenue and Production Forecast (2016-2027)
10.1.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.1.4. Canada
10.1.4.1. Market Revenue and Production Forecast (2016-2027)
10.1.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Production Forecast by Product (2016-2027)
10.2.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.2.3. UK
10.2.3.1. Market Revenue and Production Forecast (2016-2027)
10.2.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.4. Germany
10.2.4.1. Market Revenue and Production Forecast (2016-2027)
10.2.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.5. France
10.2.5.1. Market Revenue and Production Forecast (2016-2027)
10.2.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.2.6. Rest of EU
10.2.6.1. Market Revenue and Production Forecast (2016-2027)
10.2.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.3. Asia Pacific (APAC)
10.3.1. Market Revenue and Production Forecast by Product (2016-2027)
10.3.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.3.3. China
10.3.3.1. Market Revenue and Production Forecast (2016-2027)
10.3.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Production Forecast (2016-2027)
10.3.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.5. Japan
10.3.5.1. Market Revenue and Production Forecast (2016-2027)
10.3.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Production Forecast (2016-2027)
10.3.6.2. Market Revenue and Consumption Forecast (2016-2027)
10.4. LATAM
10.4.1. Market Revenue and Production Forecast by Product (2016-2027)
10.4.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.4.3. Brazil
10.4.3.1. Market Revenue and Production Forecast (2016-2027)
10.4.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.4.4. Rest of LATAM
10.4.4.1. Market Revenue and Production Forecast (2016-2027)
10.4.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5. Middle East and Africa (MEA)
10.5.1. Market Revenue and Production Forecast by Product (2016-2027)
10.5.2. Market Revenue and Consumption Forecast by Application (2016-2027)
10.5.3. GCC
10.5.3.1. Market Revenue and Production Forecast (2016-2027)
10.5.3.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.4. North Africa
10.5.4.1. Market Revenue and Production Forecast (2016-2027)
10.5.4.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.5. South Africa
10.5.5.1. Market Revenue and Production Forecast (2016-2027)
10.5.5.2. Market Revenue and Consumption Forecast (2016-2027)
10.5.6. Rest of MEA
10.5.6.1. Market Revenue and Production Forecast (2016-2027)
10.5.6.2. Market Revenue and Consumption Forecast (2016-2027)
Chapter 11. Company Profiles
11.1. SABIC
11.1.1. Company Overview, Business Information, Regional Presence
11.1.2. Product Portfolio Analysis
11.1.2.1. Product Details, Specification, Application
11.1.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.1.4. Recent Developments and Strategies
11.2. BASF SE
11.2.1. Company Overview, Business Information, Regional Presence
11.2.2. Product Portfolio Analysis
11.2.2.1. Product Details, Specification, Application
11.2.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.2.4. Recent Developments and Strategies
11.3. Victrex Plc
11.3.1. Company Overview, Business Information, Regional Presence
11.3.2. Product Portfolio Analysis
11.3.2.1. Product Details, Specification, Application
11.3.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.3.4. Recent Developments and Strategies
11.4. Evonik Industries AG
11.4.1. Company Overview, Business Information, Regional Presence
11.4.2. Product Portfolio Analysis
11.4.2.1. Product Details, Specification, Application
11.4.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.4.4. Recent Developments and Strategies
11.5. EnsingerGmbh
11.5.1. Company Overview, Business Information, Regional Presence
11.5.2. Product Portfolio Analysis
11.5.2.1. Product Details, Specification, Application
11.5.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.5.4. Recent Developments and Strategies
11.6. Lyondellbasell Industries Holdings B.V.
11.6.1. Company Overview, Business Information, Regional Presence
11.6.2. Product Portfolio Analysis
11.6.2.1. Product Details, Specification, Application
11.6.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.6.4. Recent Developments and Strategies
11.7. Eastman Chemical Company
11.7.1. Company Overview, Business Information, Regional Presence
11.7.2. Product Portfolio Analysis
11.7.2.1. Product Details, Specification, Application
11.7.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.7.4. Recent Developments and Strategies
11.8. Arkema S.A.
11.8.1. Company Overview, Business Information, Regional Presence
11.8.2. Product Portfolio Analysis
11.8.2.1. Product Details, Specification, Application
11.8.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.8.4. Recent Developments and Strategies
11.9. Solvay S.A.
11.9.1. Company Overview, Business Information, Regional Presence
11.9.2. Product Portfolio Analysis
11.9.2.1. Product Details, Specification, Application
11.9.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.9.4. Recent Developments and Strategies
11.10. Teijin Limited
11.10.1. Company Overview, Business Information, Regional Presence
11.10.2. Product Portfolio Analysis
11.10.2.1. Product Details, Specification, Application
11.10.3. Revenue, Production Capacity, Price, and Gross Margin (2015-2020)
11.10.4. Recent Developments and Strategies
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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