Market Size of Asia-Pacific Thermoplastics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Thermoplastics Market Analysis
The market for Asia-Pacific thermoplastics is expected to grow at a CAGR of over 6% globally during the forecast period. Some of the prominent trends that the market is increasing capacity additions in downstream processing and rising applications in the automotive industry.
- Impact of COVID-19 pandemic and various environmental concerns related to thermoplastics are likely to hinder the market's growth.
- China dominated the Asia-Pacific thermoplastics market and is likely to continue its dominance through the forecast period.
APAC Thermoplastics Industry Segmentation
The Asia-Pacific Thermoplastics Market report includes:
| Product Type | |||||||||
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| Other Product Types (PPE, PSU, PEI, PPS, ETFE, PFA, FEP, PBI) |
| End-user Industry | |
| Packaging | |
| Building and Construction | |
| Automotive and Transportation | |
| Electrical and Electronics | |
| Sports and Leisure | |
| Furniture and Bedding | |
| Agriculture | |
| Medical | |
| Other End-user Industries |
| Geography | |
| China | |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
Asia-Pacific Thermoplastics Market Size Summary
The Asia-Pacific thermoplastics market is poised for significant growth, driven by increasing capacity additions in downstream processing and expanding applications in the automotive industry. Despite challenges posed by the COVID-19 pandemic and environmental concerns, the market is expected to maintain a robust growth trajectory. China remains a dominant force in the region, leveraging its extensive manufacturing base and regulatory focus on efficient vehicles to bolster demand for thermoplastics in the automotive sector. The packaging industry emerges as the largest application segment, with engineering plastics like polyethylene terephthalate (PET) and polyamide being extensively used due to their favorable properties such as chemical resistance, recyclability, and mechanical strength. These materials are particularly prevalent in food and beverage packaging, as well as in medical and household applications.
The market landscape is characterized by fragmentation, with numerous key players such as Asahi Kasei Corporation, LG Chem, DuPont, Mitsubishi Engineering-Plastics Corporation, and TEIJIN LIMITED actively participating. The electronics sector in China, being the largest globally, further fuels the demand for thermoplastics, supported by advancements in technology and increased consumer demand. The anticipated steady demand for packaging products, coupled with the rising need for medical and household plastic applications, is expected to sustain the market's growth momentum throughout the forecast period.
Asia-Pacific Thermoplastics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Purchasing Power in Developing Economies
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Impact of COVID-19 Pandemic
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Commodity Thermoplastics
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2.1.1.1 Polyethylene (PE)
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2.1.1.2 Polypropylene (PP)
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2.1.1.3 Polyvinyl Chloride (PVC)
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2.1.1.4 Polystyrene (PS)
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2.1.2 Engineering Thermoplastics
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2.1.2.1 Polyamide (PA)
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2.1.2.2 Polycarbonates (PC)
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2.1.2.3 Polymethyl Methacrylate (PMMA)
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2.1.2.4 Polyoxymethylene (POM)
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2.1.2.5 Polyethylene Terephthalate (PET)
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2.1.2.6 Polybutylene Terephthalate (PBT)
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2.1.2.7 Acrylonitrile Butadiene Styrene (ABS)/Styrene Acrylonitrile (SAN)
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2.1.3 High-performance Engineering Thermoplastics
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2.1.3.1 Polyether Ether Ketone (PEEK)
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2.1.3.2 Liquid Crystal Polymer (LCP)
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2.1.3.3 Polytetrafluoroethylene (PTFE)
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2.1.3.4 Polyimide (PI)
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2.1.4 Other Product Types (PPE, PSU, PEI, PPS, ETFE, PFA, FEP, PBI)
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2.2 End-user Industry
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2.2.1 Packaging
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2.2.2 Building and Construction
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2.2.3 Automotive and Transportation
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2.2.4 Electrical and Electronics
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2.2.5 Sports and Leisure
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2.2.6 Furniture and Bedding
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2.2.7 Agriculture
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2.2.8 Medical
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2.2.9 Other End-user Industries
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2.3 Geography
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2.3.1 China
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2.3.2 India
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2.3.3 Japan
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2.3.4 South Korea
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2.3.5 ASEAN Countries
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2.3.6 Rest of Asia-Pacific
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Asia-Pacific Thermoplastics Market Size FAQs
What is the current Asia-Pacific Thermoplastics Market size?
The Asia-Pacific Thermoplastics Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Thermoplastics Market?
Asahi Kasei Corporation, LG Chem, DuPont, Mitsubishi Engineering-Plastics Corporation and TEIJIN LIMITED are the major companies operating in the Asia-Pacific Thermoplastics Market.
