Plastic Market Regional Analysis

Plastic Market size was valued at USD 624.16 Billion in 2023 and is poised to grow from USD 650.37 Billion in 2024 to USD 903.86 Billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).

Plastic manufacturers should focus on the development of easily degradable plastic to maximize their business scope. Investing in plastic recycling and reuse facilities will also help plastic companies expand their business scope in the future. Offering recycled plastic products especially for the packaging industry will be a major strategy for all plastic providers across the forecast period and beyond.   'BASF SE (Germany)  ', 'Dow, Inc. (US)  ', 'Evonik Industries AG (Germany)  ', 'Sumitomo Chemical Co., Ltd. (Japan)  ', 'Arkema (France)  ', 'Celanese Corporation (US)  ', 'Chevron Phillips Chemical Co., LLC (US)  ', 'Lotte Chemical Corporation (South Korea)  ', 'Exxon Mobil Corporation (US)  ', 'Covestro AG (Germany)  ', 'Toray Industries, Inc. (Japan)  ', 'Mitsui & Co. Plastics Ltd. (Japan)  ', 'TEIJIN LIMITED (Japan)  ', 'INEOS Group (UK)  ', 'LG Chem (South Korea)  ', 'LANXESS (Germany)  ', 'CHIMEI (Taiwan)  ', 'RTP Company (US)  ', 'Huntsman International LLC (US) '

Rapidly increasing e-commerce activity around the world has boosted the demand for packaging materials around the world and this is projected to primarily augment plastic market growth over the coming years as plastic remains a preferred packaging material.  

Bio-based Plastic Development: almost all plastic companies are projected to focus on the development of bio-based plastic products. Focusing on this trend will help companies bypass the bans on plastic and ride the sustainability wave to maximize their revenue generation. 

The Asia-Pacific region is estimated to hold sway over global plastic demand outlook going forward. The presence of robust industrial activity and growing use of plastic in the same is helping this region maintain a high market share. India, China, Japan, and Vietnam are projected to be attractive markets in this region. Growing use of plastic in the manufacturing of multiple components is also helping this region maintain a high market share on a global level.