Future Of Resin Industry: Global Market Forecast And Analysis 2032

According to Fortune Business Insights the global resin market size was USD 593.94 billion in 2024. The market is projected to grow from USD 623.27 billion in 2025 to USD 875.41 billion by 2032 at a CAGR of 5.0% during the forecast period. Resin is typically a solid or highly viscous material that can be sourced naturally from plants or produced synthetically in laboratories. In nature, plants generate resins either as part of their normal growth or as a response to injury. In industrial settings, various manufacturing processes are employed to produce resinous materials and convert them into end-use products. Growing demand from a wide range of end-use industries is driving the expansion of the resin market.

Fortune Business Insights presents this information in their report titled "Resin Market, 2025–2032."

Get a Free Sample PDF Brochure:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/resin-market-101746

Industrial Wax Market Segmentation Analysis:

By Type:
The market is segmented into polyethylene, polypropylene, PET, PVC, ABS, polyamide, polycarbonate, polyurethane, polystyrene, and others. Polyethylene dominated the market due to its extensive use in packaging and automotive applications. Its moldability, impact resistance, and electrical insulation properties make it ideal for industries like healthcare and pharmaceuticals. The segment is expected to witness strong growth through the forecast period.

By End-use Industry:
The end-use segments include packaging, automotive & transportation, building & construction, consumer goods, electrical & electronics, agriculture, and others. Packaging held the largest market share in 2024, driven by growing demand across food & beverage, electronics, and consumer goods sectors. The building & construction segment also contributed significantly, supported by rising urbanization, infrastructure projects, and the use of resins in flooring, pipes, roofing, and adhesives.

Drivers & Restraints:

Digital Transformation and Changing Consumer Preferences Drive Growth in Plastic Packaging Demand

Pharmaceutical and electrical & electronics industries have embraced digital platforms to enhance customer support, service, and product sales, contributing to the increased demand for plastic packaging. Simultaneously, the food & beverage sector favors flexible packaging, driven by the growing popularity of convenience foods such as frozen and ready-to-eat meals. These developments are anticipated to propel the packaging solutions market, leading to a surge in demand for plastic packaging materials.

On the contrary, fluctuation in oil prices may stifle the resin market growth.

Regional Insights

Asia Pacific Leads Plastic Market, with China and India as Key Contributors

Asia Pacific emerged as the frontrunner recording a market value of USD 268.20 billion in 2022. This dominant position is expected to be sustained in the coming years, primarily driven by the presence of major plastic-producing and consuming nations such as China and India.

In Europe, the market growth for resin is predominantly fueled by the automotive industry's escalating demand for plastics. The increasing consumption of plastics in automotive applications has become a significant factor driving the plastic market's expansion in the region.

Competitive Landscape

Fragmented Competitive Landscape Drives Expansion of High-Performance Polymers Market

The market’s competitive landscape for high-performance polymers and compounds is characterized by fragmentation, with multiple key players vying for the resin market share. These players are actively expanding their production capabilities to cater to the growing demand and enhance their regional presence.

Key Industry Development: 

August 2022 - Ashland, a global additive and specialty chemicals manufacturing company, declared a strategically important expansion of Viatel, a bioresorbable polymer manufacturing and R&D site at the National Science Park in Mullingar, Ireland.
List of Key Players Profiled in the Market Report:

DuPont (U.S.)
Arkema (France)
BASF SE (Germany)
INEOS Holdings Ltd. (U.K.)
Hexion (U.S.)
Invista (U.S.)
LyondellBasell (Netherlands)
Mitsubishi Engineering-Plastics Corporation (Japan)
Mitsui Chemicals (Japan)
Nova Chemicals (Canada)
Repsol (Spain)
Sumitomo Chemical Co. Ltd. (Japan)
Teijin Limited (Japan)
Tosoh Corporation (Japan)
Toray Group (Japan)
Get Your Customization Research Report:

https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/resin-market-101746

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Address:

Fortune Business Insights Pvt. Ltd.

9th Floor, Icon Tower, Baner –

Mahalunge Road, Baner, Pune-411045,

Maharashtra, India.

Phone

US: +18339092966

UK: +448085020280

APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com

Linkedin | Twitter | Blogs