Plastic Resins Market Size

Plastic Resin Market size was over USD 954.27 billion in 2024 and is anticipated to cross USD 1.71 trillion by 2037, growing at more than 4.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of plastic resin is estimated at USD 989.39 billion.

Plastics and polymers comprise over 10% of a vehicle’s weight and are key substitutes for heavy steel and iron automobile components. Polyethylene, polyamides, polypropylene, and PVCs, along with other specialty polymers are the type of plastics used in the automotive industry.  According to the U.S. Department of Energy, reducing 10% of automotive weight can influence improvement in fuel economy by about 6%-8%. More focus is on improving the additives for plastics by utilizing carbon-negative materials and decarbonizing the polymer materials used in the automotive industry.