Home > Advanced Materials > Thermoplastic Resin Market Size, Share and Forecast to 2031 | Straits Research
Straits Research

Thermoplastic Resin Market

Thermoplastic Resin Market: Information by Resin Type (Polypropylene, Polyamide), Compound Type, Composite Type, End-User (Consumer Goods, Marine), and Region — Forecast till 2031

Table of Content Download Sample

Market Snapshot

market snapshot
Base Year:
Study Period:
5 %
Fastest Growing Market:
North America
Largest Market:
Asia Pacific

The global thermoplastic resin market was valued at USD 10.75 billion in 2022. It is projected to reach USD 16.76 billion by 2031, growing at a CAGR of 5% during the forecast period (2023-2031), driven by increasing demand for fast-curing and sustainable composite materials in the automotive industry.

Rising demand for thermoplastics from growing automobile manufacturing and the development of new goods using the product drive adoption. Growing demand for feasible and lightweight material and the imposition of stringent government regulations will encourage market growth. Rising focus on introducing high molecular weight thermoplastic resins is fostering the product penetration. There is a significant opportunity for the market to flourish across the globe, owing to the increasing applications in various industries, including transportation, electronics, etc.

Thermoplastic Resin Market Size

To learn more about key trends >> Download Sample Report

Market Dynamics

Recyclability and Impact Resistance

Thermoplastic resins are versatile in nature and have the ability to reform, undergoing only physical changes and no chemical ones. Thermoplastics are unshaped raw materials that turn to liquid on heating and solidify on cooling. They can be remelted and remolded repeatedly, allowing parts to go under reprocessing.  Their ability to change shape and be recycled and eco-friendliness drive market growth. The manufacturing process is based on environmental sustainability, and the procedure requires low investment. Thermoplastics can withstand high-level impact; their ability to handle impact surpasses that of their counterparts by almost tenfold. This particular feature drives applications in bulletproof vests, airplane windows, and helmet visors.

Thermal Conductivity, Tensile Strength, and Ability to Withstand a Vast Temperature Range

Several thermoplastic resins contain filler materials such as fibers or powders that offer stiffness and strength and lubricants such as molybdenum disulfide and also contain fiber such as metal powders, silicates, and ceramics. Thermal conductivity, tensile strength, and usage temperature are the key characteristics encouraging product adoption. Thermal compounds offer an extensive array of features; products designed for electrical and electronics applications deliver protection against electromagnetic interference, electrostatic discharge, and radio frequency interference. Goods that are resistive, electrically conductive insulating, and suitable for high voltage applications are readily available. Flame retardant materials decrease the spread of flames and resist ignition when exposed to high temperatures. Thermoplastic materials mold a thermally conductive film over the substrate between components within a finished electronic good. A few thermoplastic materials have water-borne or water-based resins, while others have solvent-based resins employ volatile organic compounds (VOCs) to alter viscosity.

Some examples of common thermoplastic resins are listed below.

  • Polyethylene Terephthalate (PET) is used in manufacturing water and soda bottles.
  • Polypropylene for packaging containers
  • Polycarbonate in designing safety glass lenses
  • Vinyl for window frames
  • Polyethylene in producing grocery bags
  • PVC for piping
  • Polyetherimide PEI for airplane armrests
  • Nylon in footwear

Aesthetically-superior finish, hard crystalline and rubbery surface, and chemical resistance are the key characteristics of thermoplastic resins that drive demand around the globe.

Intended Audience

  • Product Manufacturers (IDMs)
  • Banks, Venture Capitalists, Financial Institutions, and Other Investors
  • Potential Investors
  • Original Equipment Manufacturers (OEMs), Dealers, and Suppliers
  • Research and Development Institutes

Segmental Overview

Polyphenylene Sulfide Segment Slated to Grow at the Fastest Pace While Polyamide Segment is Pegged to Hold the Largest Value Share

Based on resin type, the market is segmented into polypropylene, polyamide, polybutylene terephthalate, polyphenylene sulfide, polycarbonate, and other resins. The polyphenylene sulfide (PPS) segment is anticipated to witness the fastest growth during the forecasted period, owing to the rising applications across various industries such as defense, aerospace, and automotive. The polyamide segment is growing rapidly and pegged to hold the largest market share during the forecast period, on account of widespread applications in short fiber-reinforced thermoplastic (SFRT). Polyamide-based materials exhibit impressive wear resistance and strong ductility, making them highly valuable for automotive applications. Furthermore, their ease in processing, high resistance to heat, superior mechanical strength, and stiffness with good dielectric properties enable automotive OEMs to decrease weight without conceding on vehicle performance.

Easy Processing and Reprocess-Ability

Based on compound type, the market is segmented into short fiber-reinforced thermoplastic, long fiber-reinforced thermoplastic, continuous fiber-reinforced thermoplastic, and glass-mat thermoplastic. Short fiber-reinforced thermoplastics offer reprocess-ability and ease in processing, which drives their applications across various verticals. Specifically, they are used in applications where toughness, high volume production, scrap recycling, and long shelf life are important.

Aerospace and Defense Applications

Based on end-use, the market is segmented into transportation, consumer goods, electrical and electronics, aerospace and defense, and others. The aerospace and defense segment is estimated to hold a substantial market share across the globe. Thermoplastic composites find application in the aerospace industry due to their lightweight; they facilitate several efficient designs for various purposes. The internal components manufactured from thermoplastic materials include luggage bins, floor panels, seats, trolleys, separation panels, fuel pipes, and bulkheads.

Regional Overview

APAC – The Largest Shareholder With the Highest Growth Rate

Thermoplastic Resin Market Regional Analysis

To understand geography trends >> Download Sample Report

Asia Pacific is the highest contributor to the global thermoplastic resin market and is anticipated to grow at a CAGR of 4.75% during the forecast period. With the necessary facilities and production capacity to meet local demand, China is self-sufficient in producing plastic. Furthermore, because of its extensive manufacturing infrastructure, China exports a variety of plastics to its neighbors. Increased auto sales and production and rising electronics industry demand from emerging nations like India, China, Australia, and many others will expand the market's size. The growth of local players and the expansion of commercial and passenger vehicle manufacturing facilities are improving the industrial outlook. Due to the abundant labor available at a low cost and the high capacity for downstream processing, China and India are the two central developing countries in the area. They are expected to hold significant value shares in the thermoplastic resin market.

North America is expected to grow at the fastest CAGR of 5.33% during the forecast period. The FDA, EPA, and other regulatory agencies policies are likely to serve as a restraint. Alternative production methods and product sustainability throughout its life cycle are anticipated to lessen the impact of this factor. Due to the nation's ongoing focus on fuel-efficient vehicles, the United States is a leading consumer of thermoplastics in the automotive industry. The country's motor vehicle production has decreased as a result of the emission regulations; this decline has affected the development of thermoplastics in the nation's automotive industry. As one of the top locations for aircraft production, the nation is home to various manufacturers, including those in the equipment, material, component, engine, and complete system integration sectors.

Key Players

The market is competitive in nature, and a smaller number of participants hold large value shares. The most noteworthy participants are

  • LyondellBasell Industries
  • Koninklijke DSM N.V.
  • Solvay S.A.
  • Lanxess
  • E. I. DuPont de Nemours and Company
  • Dow Inc.
  • Evonik Industries AG
  • Sumitomo Chemical
  • Arkema
  • Celanese Corp.
  • Eastman Chemical Company
  • Chevron Phillips Chemical Co.LLC
  • Lotte Chemical Corp.
  • Covestro AG
  • Toray Industries Inc.
  • Teijin Ltd

Key players are investing in increasing their production capacities and expanding their business in a bid to better prepare for future demand trends.

Report Scope

Report Metric Details
Market Size USD 16.76 billion by 2031
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered by Resin Type (Polypropylene, Polyamide), Compound Type, Composite Type, End-User (Consumer Goods, Marine)
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors BASF SE, , LyondellBasell Industries, Koninklijke DSM N.V., Solvay S.A., Lanxess, E. I. DuPont de Nemours and Company, and SABIC.
Key Market Drivers Recyclability and Impact Resistance

Market News

  • November 2022, Compounding Solutions, a leader in premium custom thermoplastic medical grade compounds and concentrates, and SM Engineering Materials have announced a new strategic partnership. Through this strategic alliance, DSM's Care portfolio, which includes Arnitel Care, which is regarded as a superior replacement for current catheter materials, is more easily accessible to medical device customers.
  • March 2022, With the creation of the first 100% recyclable prototype wind turbine blade using Arkema's Elium liquid thermoplastic resin and new high-performance glass fabrics, the ZEBRA consortium announced a new advancement in the industry's ambitious transition project towards a circular economy.

Thermoplastic Resin Market Segmentation

By Resin Type

  • Polypropylene
  • Polyamide
  • Polybutylene terephthalate
  • Polyphenylene sulfide
  • Polycarbonate
  • Other resins

By Compound Type

  • Short fiber-reinforced thermoplastic
  • Long fiber-reinforced thermoplastic
  • Continuous fiber-reinforced thermoplastic
  • Glass-mat thermoplastic

By Composite Type

  • Glass fiber-reinforced plastics
  • Carbon fiber-reinforced plastics

By End User

  • Automotive and transportation
  • Consumer goods
  • Electrical and electronics
  • Aerospace and defense
  • Construction and infrastructure
  • Marine
  • Others

By Region

North America

  • U.S.
  • Canada
  • Mexico


  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe


  • Japan
  • India
  • China
  • South Korea
  • Australia
  • Vietnam
  • Indonesia
  • Malaysia
  • Singapore
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Argentina
  • Colombia
  • Rest of Latin America

Middle East

  • Saudi Arabia
  • Oman
  • Qatar
  • Bahrain
  • UAE
  • Rest of ME


  • Nigeria
  • Tanzania
  • South Africa
  • Ghana
  • Rest of Africa

Frequently Asked Questions (FAQs)

APAC is expected to hold the highest market share in Thermoplastic Resin Market.
Polyphenylene Sulfide Resin type segments is expected to be leading segments in Thermoplastic Resin Market during the forecast period.
BASF SE, LyondellBasell Industries, Koninklijke DSM N.V., Solvay S.A., Lanxess, E. I. DuPont de Nemours and Company, and SABIC are the top players in Thermoplastic Resin Market.
Aesthetically-superior finish, hard crystalline and rubbery surface, and chemical resistance will drive the key factor of Global Thermoplastic Resin Market.
Price Starts From

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Need Assistance?
+1 646 480 7505 (U.S.)
+44 208 068 9665 (U.K.)
Looking For Custom Report ?

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Check Our License Options :
Report Snapshot

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers