Thermoplastics Market Size (2024 - 2029)

The thermoplastics market is anticipated to experience significant growth, driven by increased capacity in downstream processing and the expansion of consumer goods and electronic sectors. Despite challenges posed by environmental concerns, the market is poised for recovery and growth following disruptions caused by the COVID-19 pandemic. The rising interest in bio-based products presents new opportunities, while the Asia-Pacific region is expected to lead in market dominance and growth rate during the forecast period.

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Market Size of Thermoplastics Industry

Thermoplastics Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 6.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Thermoplastics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Thermoplastic Market Analysis

The thermoplastics market is expected to register a CAGR greater than 6% during the forecast period.

The COVID-19 outbreak caused worldwide lockdown, disruption in manufacturing activity and supply networks, and production halts, all of which harmed the market in 2020. However, conditions began to improve in 2021, resuming the market's growth trajectory throughout the projection period.

  • The expanding capacity additions in downstream processing and the growing consumer goods and electronic sectors are projected to benefit the market under consideration.
  • However, environmental concerns related to thermoplastics are expected to hinder the market's growth.
  • The growing popularity of bio-based products is expected to act as an opportunity for the market.
  • The Asia-Pacific region is expected to dominate the market and will likely witness the highest CAGR during the forecast period.

Thermoplastic Industry Segmentation

A thermoplastic polymer may be softened by heating and then processed using extrusion, injection molding, thermoforming, and blow molding techniques. Thermoplastics harden once cooled and do not show any changes in their chemical properties after being heated and cooled multiple times, making them easily recyclable. The thermoplastics market is segmented by product type, end-user industry, and geography. By product type, the market is segmented into commodity thermoplastics, engineering thermoplastics, high-performance engineering thermoplastics, and other product types. By end-user industry, the market is segmented into packaging, building and construction, automotive and transportation, electrical and electronics, sports and leisure, medical, and other end-user industries. The report also covers the market size and forecasts for the thermoplastics market in 15 countries across major regions. For each segment, market sizing and forecasts have been done based on volume (kilo tons).

Product Type
Commodity Thermoplastics
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl chloride (PVC)
Polystyrene (PS)
Engineering Thermoplastics
Polyamide (PA)
Polycarbonates (PC)
Polymethyl methacrylate (PMMA)
Polyoxymethylene (POM)
Polyethylene terephthalate (PET)
Polybutylene terephthalate (PBT)
Acrylonitrile Butadiene Styrene (ABS)/Styrene Acrylonitrile (SAN)
High-performance Engineering Thermoplastics
Polyether Ether Ketone (PEEK)
Liquid Crystal Polymer (LCP)
Polytetrafluoroethylene (PTFE)
Polyimide (PI)
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
Medical
Other End-user Industries (Agriculture, Consumer Goods)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Thermoplastics Market Size Summary

The thermoplastics market is poised for significant growth, driven by increasing demand across various sectors such as automotive, electronics, and consumer goods. The market is recovering from the disruptions caused by the COVID-19 pandemic, with improvements in manufacturing and supply chains observed since 2021. The Asia-Pacific region is expected to lead the market, benefiting from its robust automotive and electronics industries, particularly in countries like China and India. The demand for lightweight materials in the automotive sector, aimed at enhancing fuel efficiency and design flexibility, is a key factor propelling market expansion. However, environmental concerns regarding thermoplastics pose challenges, while the rising popularity of bio-based products presents new opportunities for market growth.

The market landscape is characterized by a fragmented structure with a few major players, including BASF SE, Evonik Industries AG, Solvay, SABIC, and Arkema, holding significant shares. These companies are actively investing in expanding their production capacities and developing innovative thermoplastic materials to meet evolving industry demands. The automotive sector's resurgence, particularly in electric vehicles, and the construction boom in China are expected to further drive the demand for thermoplastics. Additionally, North America and Europe are witnessing increased utilization of engineering plastics in automotive manufacturing, supported by consumer preferences for high-quality, fuel-efficient vehicles and substantial investments in automotive research and development.

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Thermoplastics Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rapid Increase in Downstream Processing Capacity Additions

      2. 1.1.2 Growing Consumer Goods and Eelctronics Industries

    2. 1.2 Restraints

      1. 1.2.1 Environmental Concerns Related to thermoplastics

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value-chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 Commodity Thermoplastics

        1. 2.1.1.1 Polyethylene (PE)

        2. 2.1.1.2 Polypropylene (PP)

        3. 2.1.1.3 Polyvinyl chloride (PVC)

        4. 2.1.1.4 Polystyrene (PS)

      2. 2.1.2 Engineering Thermoplastics

        1. 2.1.2.1 Polyamide (PA)

        2. 2.1.2.2 Polycarbonates (PC)

        3. 2.1.2.3 Polymethyl methacrylate (PMMA)

        4. 2.1.2.4 Polyoxymethylene (POM)

        5. 2.1.2.5 Polyethylene terephthalate (PET)

        6. 2.1.2.6 Polybutylene terephthalate (PBT)

        7. 2.1.2.7 Acrylonitrile Butadiene Styrene (ABS)/Styrene Acrylonitrile (SAN)

      3. 2.1.3 High-performance Engineering Thermoplastics

        1. 2.1.3.1 Polyether Ether Ketone (PEEK)

        2. 2.1.3.2 Liquid Crystal Polymer (LCP)

        3. 2.1.3.3 Polytetrafluoroethylene (PTFE)

        4. 2.1.3.4 Polyimide (PI)

      4. 2.1.4 Other Product Types (PPE, PSU, PEI, PPS, ETFE, PFA, FEP, PBI)

    2. 2.2 End-user Industry

      1. 2.2.1 Packaging

      2. 2.2.2 Building and Construction

      3. 2.2.3 Automotive and Transportation

      4. 2.2.4 Electrical and Electronics

      5. 2.2.5 Sports and Leisure

      6. 2.2.6 Medical

      7. 2.2.7 Other End-user Industries (Agriculture, Consumer Goods)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Thermoplastics Market Size FAQs

The Thermoplastics Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

BASF SE, Evonik Industries AG, Solvay, SABIC and Arkema are the major companies operating in the Thermoplastics Market.

Thermoplastic Market Report Snapshots

Thermoplastic Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)