The global PE resins market size is estimated to value at USD 1,43,622.2 million in 2023 and is expected to reach USD 1,98,712.3 million by 2033. The market is assumed to register a CAGR of 3.3% from 2023 to 2033.
The increasing role of packaging for material handling, shelf-life improvement, and safety is influencing the demand for plastic in the global market. Around 40% of the plastic demand across the globe is generated from the packaging sector. PE polymers such as LDPE, LLDPE, and HDPE are extensively used for the packaging of food and beverages.
Technological advancement in the packaging industry has increased the manufacturer's preference for plastic. Due to its capability for increasing the shelf life of the product and reducing losses.
| Attribute | Details |
|---|---|
| PE Resins Market Size 2022 | USD 1,38,765.4 million |
| PE Resins Market Size 2023 | USD 1,43,622.2 million |
| PE Resins Market Size 2033 | USD 1,98,712.3 million |
| PE Resins Market Value CAGR (2018 to 2022) | 2.8% |
| PE Resins Market Value CAGR (2023 to 2033) | 3.3% |
The PE resins market is anticipated to be supported by the Asia Pacific, which is projected to capture a significant market share in 2023.
FMI also estimates that in the forecast period, the Indian PE resins industry is expected to register a CAGR of 4.3%.
The high concentration of resin manufacturers in the Asia Pacific has made the market more competitive. It is another factor boosting the expansion of polyethylene resin market in the region. Against the backdrop of physical properties such as high moisture, and abrasion resistance the demand for different grades of PE polymer is expected to increase over the forecast period.
According to reliable sources, the Asia Pacific is home to 60% of the world’s youth and this region is one of the key contributors to the growth of the global consumer electronics industry. As millennial generation is more inclined to purchase new gadgets and remain up-to-date with trends.
This can also be attributed to the growing middle class in the region. Several countries in the Asia Pacific region have experienced high growth GDP rates in the last decade despite the COVID-19 impact. Resulting in increased annual disposable income. Increased digital awareness has resulted in more people exploring new products, such as smartphones, and tablets, among other household electronic gadgets.
PE resins are widely used in the production of surface protection films for flat displays on these gadgets. The Asia Pacific PE resins industry is expected to enjoy healthy growth over the forecast period, on the backdrop of increased consumer electronics sales in the region. However, consumers have shown more inclination toward portable consumer electronics. This means sales of specialty films such as surface protection films for smartphones, laptops, and tablets are projected to outdo that for products such as televisions.
PE resins industry is expected to showcase a remarkable 3.3% CAGR between the forecast years, contrary to the 2.8% CAGR witnessed during historical years. This exponential rise in growth is accounted for due to an increase in demand from packaging and consumer end-use.
To fulfilling the escalating demand for PE polymers, local and multinational resin manufacturers are strengthening their supply chain capabilities. About 41% market share of global PE resin demand is from the Asia Pacific.
Strong demand for consumer goods and the homecare industry in India, ASEAN countries, and China is positively impacting the PE resin market across the Asia Pacific region.
Some other distinctive advantages of the use of plastic are the reduced carbon footprint of manufacturers by limiting the consumption of energy during the production process. Additionally, the ability to protect goods & food, thereby reducing breakage and waste.
Apart from the application and physical properties of plastic, plastic also has a strong influence on the global economy. It has the potential to create a multiplier effect in the regional economy thus boosting the demand for the PE resins industry.
The market has a very large and complex supply chain network and to ensure the safety and surety of goods, plastic packaging is playing a key role. For securing and palletizing goods during transport manufacturers are relying on LLDPE shrink and stretch films for over-wrapping and stacking of goods.
Huge trade in the region is generating the demand for LLDPE film and thus boosting the growth in the plastic resin market. Apart from exports, the use of plastic films for packaging fresh and processed food is also positively impacting the demand for PE resins.
PE resins of film grade are now more in demand due to the rapidly increasing traction of flexible packaging in the North American market. North America accounts for 1/4th of the world's flexible packaging market, thus, creating immense opportunity for the PE resins industry.
| Attribute | Details |
|---|---|
| Region | The United States |
| Market Share % 2023 | 16.4% |
| Market Size (USD million) by 2023 | USD 23,554.04 million |
| Market Size (USD million) by End of Forecast Period (2033) | USD 32,588.81 million |
The PE resins market in the United States is expected to attain a market value of USD 23,554.04 million by the end of 2023. The United States is expected to capture the single-leading market share for the PE resins industry globally. According to the United States Department of Agriculture, food industries in 2020, account for almost USD 1.7 trillion. Packaging and consumer goods are projected to witness subsequent growth in the region and lead the United States end-use segment by 2033.
| Country | CAGR % (2023 to 2033) |
|---|---|
| India | 4.3% |
In the Asia Pacific, the Indian PE resins industry is anticipated to expand at a CAGR of 4.3% during the period 2023 to 2033. The FMCG sector in India is continuously increasing because of the rise in demand for high-end quality products, along with increasing per capita income in the country as India is an economy which is driven by the consumer.
As per FMI, India’s fast-moving consumer goods market is expected to increase exponentially and reach a value of USD 71 billion in the year 2025. The consistent growth of the FMCG industry in India is expected to create notable demand for PE resin solutions during the forecast years.
The HDPE segment is expected to observe healthy growth over the forecast period. This can be attributed to the heightened demand for the product from the food and beverages sector. Following this, the segment growth is also fueled by the restrictions imposed on the use of single-use plastics.
The ongoing surge in the demand for packaging raw materials is further boosting the HDPE segment growth. Various benefits of HDPE resins include UV resistance, high quality, affordable, chemical resistance, and varied temperature tolerance. This is expected to make HDPE resins ideal solutions for substantial end-use such as packaging, consumer goods, automotive & transport, textiles, building & construction among others. This is projected to bolster the demand for HDPE resins in the forecast period.
| Segment | Market Share (2023) |
|---|---|
| Packaging | 35.5% |
Packaging and consumer goods are leading segments in end-use for the PE resins industry. These segments are projected to anticipate to collectively offer an incremental opportunity of USD 19.4 billion during the future years and are expected to hold 63% market share. Pre-packed consumer goods have seen an increase in demand because of the convenience factor which the millennial generation is deeply inclined toward.
The automotive & transport and building & construction are expected to hold 11% & 12% market shares respectively and expand at a 1.2 times expansion rate each. Developing countries are investing more in infrastructure to construct hospitals, industries, and many buildings. To improve their citizen’s standard of living and decrease the mortality rate.
Leading PE resin manufacturers are committed to the research and development of the product. Moreover, they are consistently offering innovative PE resin solutions targeted towards specific end-use. Companies operating in the PE resins industry are aiming at product launches and expansions with other manufacturers.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value and ‘000 Tonnes for Volume |
| Key Regions Covered | North America; the Asia Pacific; Western Europe; Eastern Europe; Latin America; the Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Germany, Italy, France, the United Kingdom, Spain, Russia, GCC Countries, China, India, and Australia & New Zealand |
| Key Segments Covered | Resin Type, End Use, Region |
| Key Companies Profiled | Exxon Mobil Corp.; E.I. du Pont de Nemours & Co.; Lyondell Basell Industries NV; LG Chem Ltd.; Formosa Plastics Corporation; The Dow Chemical Company; Saudi Arabia Basic Industries Corporation; Ineos Group Limited; Chevron Phillips Chemical Co. LLC; Saudi International Petrochemical Company - Sipchem; LANXESS Corporation; Braskem S.A.; Borouge; Versalis S.p.A.; NOVA Chemicals Corporation; BASF SE |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Market Volume (Tonnes) Forecast by Region, 2018 to 2033
Table 3: Global Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 4: Global Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 5: Global Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 6: Global Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Table 7: North America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 8: North America Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 9: North America Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 10: North America Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 11: North America Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 12: North America Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Latin America Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 15: Latin America Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 16: Latin America Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 17: Latin America Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 18: Latin America Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Europe Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 21: Europe Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 22: Europe Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 23: Europe Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 24: Europe Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Table 25: Asia Pacific Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: Asia Pacific Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 27: Asia Pacific Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 28: Asia Pacific Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 29: Asia Pacific Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 30: Asia Pacific Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Table 31: MEA Market Value (US$ Million) Forecast by Country, 2018 to 2033
Table 32: MEA Market Volume (Tonnes) Forecast by Country, 2018 to 2033
Table 33: MEA Market Value (US$ Million) Forecast by Resin Type, 2018 to 2033
Table 34: MEA Market Volume (Tonnes) Forecast by Resin Type, 2018 to 2033
Table 35: MEA Market Value (US$ Million) Forecast by End-Use, 2018 to 2033
Table 36: MEA Market Volume (Tonnes) Forecast by End-Use, 2018 to 2033
Figure 1: Global Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 2: Global Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 3: Global Market Value (US$ Million) by Region, 2023 to 2033
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Global Market Volume (Tonnes) Analysis by Region, 2018 to 2033
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 9: Global Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 10: Global Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 11: Global Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 12: Global Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 13: Global Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 14: Global Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 15: Global Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 16: Global Market Attractiveness by Resin Type, 2023 to 2033
Figure 17: Global Market Attractiveness by End-Use, 2023 to 2033
Figure 18: Global Market Attractiveness by Region, 2023 to 2033
Figure 19: North America Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 20: North America Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 21: North America Market Value (US$ Million) by Country, 2023 to 2033
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 23: North America Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 26: North America Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 27: North America Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 28: North America Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 29: North America Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 30: North America Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 31: North America Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 32: North America Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 33: North America Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 34: North America Market Attractiveness by Resin Type, 2023 to 2033
Figure 35: North America Market Attractiveness by End-Use, 2023 to 2033
Figure 36: North America Market Attractiveness by Country, 2023 to 2033
Figure 37: Latin America Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 38: Latin America Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 39: Latin America Market Value (US$ Million) by Country, 2023 to 2033
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 41: Latin America Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 44: Latin America Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 45: Latin America Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 48: Latin America Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 49: Latin America Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 50: Latin America Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 52: Latin America Market Attractiveness by Resin Type, 2023 to 2033
Figure 53: Latin America Market Attractiveness by End-Use, 2023 to 2033
Figure 54: Latin America Market Attractiveness by Country, 2023 to 2033
Figure 55: Europe Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 56: Europe Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 57: Europe Market Value (US$ Million) by Country, 2023 to 2033
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 59: Europe Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 62: Europe Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 63: Europe Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 64: Europe Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 66: Europe Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 67: Europe Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 68: Europe Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 69: Europe Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 70: Europe Market Attractiveness by Resin Type, 2023 to 2033
Figure 71: Europe Market Attractiveness by End-Use, 2023 to 2033
Figure 72: Europe Market Attractiveness by Country, 2023 to 2033
Figure 73: Asia Pacific Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 74: Asia Pacific Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 75: Asia Pacific Market Value (US$ Million) by Country, 2023 to 2033
Figure 76: Asia Pacific Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 77: Asia Pacific Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 78: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 79: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 80: Asia Pacific Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 81: Asia Pacific Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 82: Asia Pacific Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 83: Asia Pacific Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 84: Asia Pacific Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 85: Asia Pacific Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 86: Asia Pacific Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 87: Asia Pacific Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 88: Asia Pacific Market Attractiveness by Resin Type, 2023 to 2033
Figure 89: Asia Pacific Market Attractiveness by End-Use, 2023 to 2033
Figure 90: Asia Pacific Market Attractiveness by Country, 2023 to 2033
Figure 91: MEA Market Value (US$ Million) by Resin Type, 2023 to 2033
Figure 92: MEA Market Value (US$ Million) by End-Use, 2023 to 2033
Figure 93: MEA Market Value (US$ Million) by Country, 2023 to 2033
Figure 94: MEA Market Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: MEA Market Volume (Tonnes) Analysis by Country, 2018 to 2033
Figure 96: MEA Market Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 97: MEA Market Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 98: MEA Market Value (US$ Million) Analysis by Resin Type, 2018 to 2033
Figure 99: MEA Market Volume (Tonnes) Analysis by Resin Type, 2018 to 2033
Figure 100: MEA Market Value Share (%) and BPS Analysis by Resin Type, 2023 to 2033
Figure 101: MEA Market Y-o-Y Growth (%) Projections by Resin Type, 2023 to 2033
Figure 102: MEA Market Value (US$ Million) Analysis by End-Use, 2018 to 2033
Figure 103: MEA Market Volume (Tonnes) Analysis by End-Use, 2018 to 2033
Figure 104: MEA Market Value Share (%) and BPS Analysis by End-Use, 2023 to 2033
Figure 105: MEA Market Y-o-Y Growth (%) Projections by End-Use, 2023 to 2033
Figure 106: MEA Market Attractiveness by Resin Type, 2023 to 2033
Figure 107: MEA Market Attractiveness by End-Use, 2023 to 2033
Figure 108: MEA Market Attractiveness by Country, 2023 to 2033
The market is estimated to secure a valuation of USD 1,43,622.2 million in 2023.
The global market size is expected to reach USD 1,98,712.3 million by 2033.
Demand from packaging industry due to prolonged shelf life and safety provided by PE resins is stirring product sales.
Boom in consumer electronics industry is positively impacting the market.
Execution of new practices to invigorate supply chain capabilities is creating new opportunities for market players.
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