수지 세계 시장 규모는 2022년 5,295억 2,000만 달러로 평가되며, 2023년 5,560억 달러에서 2031년 8,214억 7,000만 달러로 성장하여 예측 기간(2024-2031년) 동안 5%의 CAGR로 성장할 것으로 예상됩니다.
석유화학 산업은 원유 가격 변동으로 인해 생산 비용이 상승하면서 큰 도전에 직면해 있습니다. 노동력과 원자재 부족, 공급망 혼란, 엄격한 규제 조치로 인해 일부 플라스틱 제조업체들은 조업을 축소하거나 중단할 수밖에 없었습니다. 그러나 식음료, 의약품, E-Commerce 등 주요 부문에서 플라스틱 포장재에 대한 수요가 급증하면서 팬데믹으로 인한 시장 침체를 완화시켰습니다. 장갑, 안면 보호대, 마스크와 같은 개인보호구에 대한 수요 증가도 이러한 수요를 더욱 촉진했습니다. 그러나 전 세계 봉쇄로 인해 물자 흐름이 크게 제한되어 생산자들에게는 공급망에 큰 지장을 초래했습니다. 특히 중국, 인도 등 주요 시장의 무역 장벽으로 인해 자재 부족이 발생하여 제조업체가 생산 목표를 효과적으로 달성할 수 있는 능력을 제한했습니다.
Global Resin Market size was valued at USD 529.52 billion in 2022 and is poised to grow from USD 556.00 billion in 2023 to USD 821.47 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).
The petrochemical industry has encountered significant challenges due to volatile crude oil prices, which have elevated production costs. Labor and raw material shortages, supply chain disruptions, and stringent regulatory measures compelled several plastic resin manufacturers to curtail or cease operations. However, the demand surge for plastic packaging in essential sectors, including food and beverage, pharmaceuticals, and e-commerce, mitigated some pandemic-related market setbacks. The heightened need for personal protective equipment such as gloves, face shields, and masks further fueled this demand. Nevertheless, global lockdowns severely restricted the flow of goods, creating substantial supply chain impediments for producers. Trade barriers, particularly in major markets like China and India, led to material shortages, limiting manufacturers' ability to meet production targets effectively.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Resin market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Resin Market Segmental Analysis
Global Resin Market is segmented by Type, Application, End-use Industry and region. Based on Type, the market is segmented into Epoxy, Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, Silicone, Others. Based on Application, the market is segmented into Coatings, Composites, Construction, Electronics. Based on End-use Industry, the market is segmented into Packaging, Automotive & Transportation, Building & Construction, Consumer Goods/Lifestyle, Electrical & Electronics, Agriculture, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Resin Market
The global resin market is experiencing significant growth driven by an increasing demand for high-strength resin materials across various sectors. This expansion is largely attributed to the rising utilization of polypropylene (PP) in industries such as construction, automotive, and medical. In the automotive sector, polypropylene's lightweight nature, chemical resistance, and cost-effectiveness make it an ideal choice for manufacturing auto parts. Additionally, the growing preference for personal vehicles, influenced by population growth and changing lifestyles, is propelling market development. In the medical field, polypropylene's impressive properties, including moisture resistance and high flexural strength, facilitate its use in diverse medical devices. Furthermore, ongoing technological advancements and research efforts aimed at developing more sustainable polymers are expected to further promote market growth.
Restraints in the Global Resin Market
The global resin market faces significant restraints due to the rapid fluctuations in raw material costs, primarily driven by the petroleum-based feedstock used in plastic production. Variations in crude oil prices, influenced by factors such as supply and demand dynamics, natural disasters, and changes in production expenses, directly affect the pricing of resins. Additionally, the reliance on fossil fuels like coal, oil, and natural gas for plastic manufacturing raises environmental concerns, leading to the implementation of stringent regulations aimed at reducing plastic pollution. These government restrictions on crude oil and petroleum usage further hinder market growth, suggesting that these challenges will continue to impact the resin market during the forecast period.
Market Trends of the Global Resin Market
The Global Resin market is witnessing a dynamic trend characterized by strategic mergers and acquisitions aimed at expanding market reach into developing and underdeveloped regions, which present vast untapped potential. Industry leaders are prioritizing research and development to innovate and produce advanced resin formulations to cater to the demands of a growing population. This proactive approach not only enhances product offerings but also strengthens competitive positioning in rapidly evolving markets. As sustainability and versatility become increasingly crucial, companies are focusing on eco-friendly and high-performance resin solutions, paving the way for substantial growth and diversification opportunities across the global landscape.