Plastic Market Size

Plastic Market size was valued at USD 650.54 billion in 2024 and is set to reach USD 1.05 trillion by the end of 2037, expanding at around 3.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of plastic is assessed at USD 670.32 billion.The growth of the market can be attributed to the increasing use of plastic in various types of end-use industries such as electrical & electronics, automotive, construction, and so on. Further, the dynamic expansion of the plastic industry across the globe is also expected to add to the market growth. For instance, based on a report, the total value of the United States plastic shipments was around USD 400 billion in 2020. Furthermore, the surge in the demand for plastic from the packaging industry, coupled with the increasing use of polymers over metals and glass materials, are further factors that are estimated to boost the market’s growth over the projected time frame.

In addition to these, factors that are believed to fuel the market growth of plastic include the rising use of plastic as an alternative to metals in the manufacturing of electronics and automotive apparatuses. As of its adaptability, ease of production, dimensional stability, easy fabrication, impervious properties, and cost-effectiveness, the demand for plastics is expected to increase considerably in the upcoming years. Hence, the rising activities in the infrastructure, automobile manufacturing, and consumer electronics sectors are anticipated to raise the utilization rate of plastics, which in turn, is projected to expand the market size in the forecast period. For instance, it is estimated that in the United States, almost 40 million tons of plastic are used every year.