Plastics and rubber products are materials made from synthetic compounds that have a wide range of applications across industries. Plastics are primarily composed of polymers, which are large molecules made from repeated units called monomers. Rubber products are typically made from natural rubber or synthetic alternatives, which possess elastic properties. Both materials have become integral to modern manufacturing due to their versatility, durability and cost-effectiveness.
The plastics and rubber products market consists of sales, by entities (organizations, sole traders or partnerships), of polymer and elastic products derived from raw materials such as synthetic or natural polymers. Plastics are primarily synthetic compounds that can be molded into various shapes and sizes. Rubber, which can be natural or synthetic, is known for its elasticity and resilience, making it ideal for applications such as tires, seals and gaskets.
The global plastics and rubber products market was valued at $1,145,326.04 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 5.00%.
Growing Packaging Industry
The growing packaging industry fueled the growth of the plastics and rubber products market during the historic period. As sustainability becomes increasingly important, the demand for eco-friendly packaging solutions is rising. The plastics industry is innovating with recyclable, biodegradable and plant-based materials. Advances in biodegradable plastics, plant-derived polymers and rubber composites are driving growth in sustainable packaging. These innovations address the need for environmentally responsible materials without compromising on performance. The inherent versatility of plastics and rubber makes them ideal for a wide range of packaging applications, offering both functionality and sustainability. As the packaging sector embraces these solutions, the adoption of sustainable materials continues to expand, contributing to a greener future. For instance, in April 2024, according to Australian Packaging Covenant Organization (APCO), an Australia-based non-profit organization that collaborates with government, industry and communities to improve the sustainability of packaging in Australia, 6.98 million tons of packaging have been sold in Australia in 2021-2022. Paper and paperboard accounted for 52.3%, followed by plastic (18.3%), glass (16.4%), wood (8.8%) and metal (4.3%). Therefore, growing packaging industry drove the growth of the plastics and rubber products market.
Advancements In Engineered Elastomer Composites For Enhanced Performance
Companies operating in the plastics and rubber products market are focusing on developing innovative engineered elastomer composites to meet the growing demand for high-performance, sustainable materials. An engineered elastomer composite is a material made by combining elastomers with other materials to enhance the elastomer's properties, making them stronger, more durable and better suited to specific applications compared to standard elastomers. For example, in February 2023, Cabot Corporation, a US-based chemicals and materials manufacturing company, launched E2C DX9660 solution. The E2C DX9660 solution is an engineered elastomer composite designed to enhance abrasion resistance and durability in on-road commercial tire treads and industrial rubber applications. It offers a 30% increase in abrasion resistance compared to conventional compounds, contributing to sustainability through reduced greenhouse gas emissions and extended tire life.
The global plastics and rubber products market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 4.51% of the total market in 2023.
Plastics And Rubber Products Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global plastics and rubber products market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for plastics and rubber products? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The plastics and rubber products market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider plastics and rubber products market; and compares it with other markets.
The report covers the following chapters
- Introduction And Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type and by end-user industry.
- Product Analysis - The product analysis section of the report describes the leading products in the metal products market, along with key features and differentiators for those products.
- Supply Chain - The supply chain section of the report defines and explains the key players in the plastics and rubber products industry supply chain.
- Customer Information - The chapter covers recent customer trends/preferences in the global plastics and rubber products market.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the plastics and rubber products market.
- Global Market Size And Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type and by end-user industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size And Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies - Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers And Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations - This section includes recommendations for plastics and rubber products providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- 1) By Type: Rubber Products; Plastic Products
- 2) By End-User Industry: Automotive And Transportation; Electrical And Electronics; Packaging; Construction; Other End-Users
- Companies Mentioned: BASF SE; Dow Inc; Exxon Mobil Corporation; Sumitomo Chemical Co Ltd; LG Chem Ltd
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; plastics and rubber products indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.