Asia-Pacific plastics market is projected to grow a CAGR of 3.6%, during the forecast period. The rising demand for plastics in packaging, automotive, consumer electronics, among other domains, are offering growth to the plastics market in the region. There is an increasing application of flexible plastic packaging in pharmaceutical, food & beverage, and personal care products across the Asia-Pacific economies such as China and India.
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Asia-Pacific plastics market is segmented based on type and application. Based on type, the market is broadly categorized into thermoplastics and thermoset plastics. The thermoplastic plastic segment includes the analysis of polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinylchloride (PVC), polyethylene terephthalate (PET), and others. The thermosetting plastics include polyurethane (PUR), epoxy resins, phenolic resins, acrylic resins, and others such as unsaturated polyester, melamine resins, and vinyl ester resins. Based on application, the market is segmented into packaging; building & construction; automotive; electrical & electronics; household, leisure & sports; agriculture; and others. The packaging is the major application of plastics and is estimated to contribute a significant share to the market.
Geographically, the Asia-Pacific plastics market is segmented into China, Japan, India, and the Rest of Asia-Pacific. China contributed a major share in the Asia-Pacific plastics market and is estimated to retain its position during the forecast period. China contributes over 55% of the Asia-Pacific plastics market and is exhibiting a CAGR of 3.7% during the forecast period. China is the largest producer and consumer of plastics, backed by the largest automotive manufacturing industry, and the electronics industry across the globe.
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Asia-Pacific Plastics Market Segmentation
By Type
- Thermoplastics
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinylchloride (PVC)
- Polyethylene Terephthalate (PET)
- Others
- Thermosets
- Polyurethane (PUR)
- Epoxy Resins
- Phenolic Resins
- Acrylic Resins
- Others
By Application
- Packaging
- Building & Construction
- Automotive
- Electrical & Electronics
- Household, Leisure & Sports
- Agriculture
- Others
Regional Analysis
- China
- India
- Japan
Rest of Asia-Pacific
Company Profiles
- Asahi Kasei Corp.
- Overview
- Asahi Kasei Corp. in Plastics Landscape
- Recent Developments
- Borouge PTE Ltd.
- CHIMEI Corp.
- Formosa Plastics Corp.
- Hanwha Group
- Jam Petrochemical Co.
- JSR Corp.
- Kuraray Co., Ltd.
- LANXESS AG
- LOTTE Chemical Corp.
- Mitsubishi Chemical Corp.
- Mitsui Chemicals, Inc.
- Reliance Industries Ltd.
- hin-Etsu Chemical Co., Ltd.
- Sumitomo Chemical Co., Ltd.
- Teijin Ltd.
- Toray Group
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