Global Industrial Plastic Market – Industry Trends and Forecast to 2029

Global Industrial Plastic Market, By Product (Acrylonitrile Butadiene Styrene, Polyphenylene Ether, Polybutylene Terephthalate, Polyamide, Polysulfone, Liquid Crystal Polymers, Polyphenylsulfone, Polytetrafluoroethylene, Polyetherimide, Polycarbonate and Others), Application (Building and Construction, Automotive and Transportation, Healthcare, Packaging, Aerospace) - Industry Trends and Forecast to 2029.

 Industrial Plastic Market Analysis and Size

Industrial plastic is available in variety of types that and can be used in several industries such as healthcare, construction, food packaging, transportation, electronics and others. The consumption and sales of industrial plastic depends on numerous factors such as trends in the demand for different products which has manufactured by using this plastic. The rising demand for industrial plastic, mainly in the packaging industry due to its properties is expected to boost the market growth rate.

Data Bridge Market Research Data Bridge Market Research analyses that the industrial plastic market was valued at USD 79.99 billion in 2021 and is expected to reach USD 120.00 billion by 2029, registering a CAGR of 5.20% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Industrial Plastic Market Scope and Segmentation

Market Definition

Plastics are organic polymers which are composed of high molecular mass and other substances. This synthetic product is generally derived from petrochemicals. Industrial plastics are those materials which have industrial applications such as rollers, valves, bearings, seals and slider pads.

Global Industrial Plastic Market Dynamics

Drivers

• Growing demand of industrial plastic in food packaging

Industrial plastic is widely used for packaging several food and refreshments because this industrial plastic is light in weight, clean, solid, retain the freshness of the contents and are dimensionally stable than other plastic. Industrial plastic is resistant to chemical substances, water, and non-harmful materials than other counterparts due to this it is highly used in the packaging of food products which are expected to drive the growth rate of this market.

• Rising demand of industrial plastic due to several properties

Industrial plastic has various properties such as light weight, thermal insulation, sound insulation, cushion, selective light transmission, energy absorption, filtration, tissue engineering scaffolds and diffusion, giving a competitive edge to the product. All these factors lead to rising demand of industrial plastic in several applications such as packaging, automotive and transportation, building and construction, electrical and electronics, healthcare, and aerospace sectors.

• Rising demand of acrylonitrile butadiene styrene (ABS)

Acrylonitrile butadiene styrene (ABS) is widely used in electronics and consumer goods applications and is gaining popularity due to its high strength, dimensional stability and rigidity. This industrial plastic is a tough material and resistant to corrosive chemicals, physical impact and heat. Thermoplastics such as ABS liquefy is easily used in recycling processes and injection molding. However, ABS is not used in high-heat conditions due to its low melting point. Computer keyboards and LEGO toys are also significant applications of ABS compounds.

Furthermore, better and improved standard of living is the major reason which is increasing the market growth Also, rising urbanization, mobile industry, frequent use of industrial plastics in the construction industry, and production of sports are some major factors among others which is expected to boost the industrial plastic market.

Opportunities

• Growing awareness regarding plastic waste in landfills and oceans

Increasing awareness of plastic waste leakage in public, specifically for plastic waste, into the environment has increased considerably during past years which has enforced to upsurge the demand for sustainable plastic from brand retailers and owners to choose the compostable industrial plastic materials which are likely to upsurge the demand of compostable industrial plastic in the targeted market.

Also, the development of new products and advancements in technology are also contributing to the revenue growth of the market and further boost beneficial opportunities for the industrial plastic market.

Restraints/ Challenges

• Fluctuating price of raw materials

The uncertainty regarding the availability of raw materials of industrial plastic increases the materials' overall cost. Changing the cost of industrial plastic has an impact on the entire cost structure, which will pose a hurdle to the industrial plastic market. As a result, the fluctuations of industrial plastic raw materials prices constrain the market's growth rate.

This industrial plastic market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the industrial plastic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Industrial Plastic Market

The outbreak of COVID-19 had a substantial impact on the industrial plastic market globally due to the disruptions in their manufacture and supply-chain activities which has caused by the mandated halts and lockdowns in production imposed by regulatory authorities all over the globe. Now, consumer demand has reduced as persons are more committed to decreasing non-essential expenses from their personal budgets due to this total economic status has been impacted by this pandemic. These factors are expected to have an impact on the revenue growth of the global industrial plastics market during the forecast period.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Industrial Plastic Market Scope

The industrial plastic market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Acrylonitrile Butadiene Styrene
• Polyphenylene Ether
• Polybutylene Terephthalate
• Polyamide
• Polysulfone, Liquid Crystal Polymers
• Polyphenylsulfone
• Polytetrafluoroethylene
• Polyetherimide
• Polycarbonate
• Others

Application

• Building and Construction
• Automotive and Transportation
• Healthcare
• Packaging
• Aerospace

Industrial Plastic Market Regional Analysis/Insights

The industrial plastic market is analysed and market size insights and trends are provided by country, product and application as referenced above.

The countries covered in the industrial plastic market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the industrial plastic market in terms of market share. This is due to the increased research and development activities in industrial plastics.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the growth of the construction sector in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Industrial Plastic Market Share Analysis

The industrial plastic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to industrial plastic market.

Some of the major players operating in the industrial plastic market are:

• BASF SE (Germany)
• ABC Technologies (Canada)
• Rogers Corporation (U.S.)
• INOAC CORPORATION (Japan)
• Huntsman International LLC. (U.S.)
• Sealed Air (U.S.)
• Horizon Plastics International (Canada)
• Gracious Living Innovations (Canada)
• Armacell (Canada)
• Ingenia Polymers Corp. (Canada)
• Total Plastics Solutions LLC (U.S.)
• LAVERGNE, Inc. (Canada)
• Trexel Inc. (U.S.)
• Evonik Industries AG (Germany)
• Arkema (France)
• Solvay (Belgium)
• SABIC (Saudi Arabia)
• Eastman Chemical Company (U.S.)
•  LyondellBasell Industries Holdings BV (Netherlands)
• Exxon Mobil Corporation (U.S.),