PUBLISHER: Roots Analysis | PRODUCT CODE: 1813198
PUBLISHER: Roots Analysis | PRODUCT CODE: 1813198
As per Roots Analysis, the global resin market size is estimated to grow from USD 667.16 billion in the current year to USD 1,148.77 billion by 2035, at a CAGR of 5.06% during the forecast period, till 2035.
The opportunity for resin market has been distributed across the following segments:
Type of Resin
Areas of Application
Type of End-Users
Company Size
Geographical Regions
Resin Market: Growth and Trends
Resin is generally a solid or highly viscous substance either derived from a plant source or manufactured synthetically in a laboratory. Naturally, resins and related resinous products are produced in plants during normal growth or secreted as a result of injury to the plants. Several resin manufacturing processes are used to manufacture resinous materials and in transforming them into final products. The rise in demand for such products from various end-use sectors is fueling the market growth of resin.
The resin market is a pivotal part of the global chemical and materials industry, and its growth and trends can be indicative of broader economic and technological developments. Further, advanced resin technology research helps to enhance product performance, making it more and more suitable to use in high-performance applications.
The constant development of resins can result in thermal stability improvements, chemical resistance, and greater mechanical strength. This is helping in increasing the applicational areas of resin in industries including aerospace, electronics, smart textiles, and medical devices. Overall, considering these factors, the resin market is anticipated to experience significant growth during this forecast period.
Resin Market: Key Segments
Based on type of resin, the global resin market is segmented into acrylonitrile butadiene styrene, epoxy, polyamide, polycarbonate, polyester, polyethylene, polyethylene terephthalate, polypropylene, polystyrene, polyurethane, polyvinyl chloride, silicone and others. According to our estimates, currently, the polyethylene segment captures the majority of the market share.
This growth can be attributed to its versatility, affordability, and extensive use across various industries. It is extensively employed because of its compatibility with different processing methods, making it appropriate for a wide range of applications such as packaging materials, pipes, and plastic bottles
However, the polyethylene terephthalate segment is expected to grow at a higher CAGR during the forecast period, driven by the adaptability of PET resin, which is frequently utilized in the production of beverage bottles, food packaging, synthetic fibers, and numerous consumer products.
Based on areas of application, the global resin market is segmented into coatings, composites, construction, and electronics. According to our estimates, currently, the coatings segment captures the majority of the market share.
This growth can be attributed to the extensive use of resin in coating products, which are well-known for their insulating properties and are regarded as a convenient and environmentally friendly chemical. However, the electronics segment is expected to grow at a higher CAGR during the forecast period.
Based on type of end-users, the global resin market is segmented into agriculture, automotive & transportation, building & construction, consumer goods / lifestyle, electrical & electronics, general industrials, packaging, and others. According to our estimates, currently, the packaging segment captures the majority of the market share.
This growth can be attributed to the substantial demand for resins, which are commonly utilized to create packaging products such as plastic bottles, containers, films, and closures. Resin-based packaging materials provide protection for products, enhance shelf life, and facilitate transportation.
However, the electrical and electronics segment is expected to grow at a higher CAGR during the forecast period, driven by the ability to encapsulate and insulate various electronic components, circuit boards, and connectors, thus shielding electronics from moisture, heat, and other environmental challenges.
Based on company size, the global resin market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. Meanwhile, the small and medium enterprise segments are predicted to experience a relatively stronger growth rate during the forecast period. This can be attributed to their flexibility, innovation, focus on specialized markets, and their capacity to adjust to shifting customer preferences and market dynamics.
Based on geographical regions, the resin market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently Asia captures the majority share of the market, owing to the presence of major countries involved in plastic production and consumption, such as China and India. Additionally, China serves as a manufacturing center for the consumer goods sector, holding a significant share of the market, which further boosts growth in the region.
Resin Market: Research Coverage
The report on the resin market features insights on various sections, including:
Key Questions Answered in this Report
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Additional Benefits