The plastic and rubber industries comprise the establishments that manufacture goods by processing plastic and rubber raw materials. The industry has had global success mainly due to the enormous growth rate of polymer consumption, from raw materials to end-user products. Polymer materials are now widely used across industries such as automotive, packaging, construction, and healthcare.
While plastics and rubber play a fundamental role in modern society, it is essential to develop a more circular approach to their use in the future due to the growing concerns around plastic waste. Moreover, the incredible versatility and diversity of plastics, from food packaging applications to underground wind turbines, make recycling and recovery very challenging and expensive. While many plastics are cost-effective, the value of recovered plastics is often meager.
China currently manufactures nearly one-third of the world’s plastic products, with a monthly output between roughly seven and eight million metric tons. The consumption of plastic products in China surpassed 90 million metric tons in 2020. Apart from China’s increased domestic consumption, the country is one of the largest plastic exporters worldwide.
The Asia-Pacific region is also the largest hub for natural and synthetic rubber.
The packaging market is expected to grow in the coming years, along with increasing global demand. The growth of packaged foods and consumer preference for ready-to-eat and processed foods will further drive demand. Synthetic rubber consumption is higher than natural rubber, and the demand for synthetic rubber from its traditional tire market is catching up in many other industries. Styrene-butadiene, the leading market product, is used to manufacture tires and as an emulsion or binder.
EU plastic demand by segmentThe global production of bioplastics is continuously increasing and has market leverage over plastics based on petrochemicals. With bans on single-use plastics increasing around the world, new investments in biodegradables are expected. Manufacturers are also investing in automation technologies to reduce production costs and enhance quality. With more robust and durable polymers, there is a rising demand, especially in the construction and automotive industries, to replace metal components.
Production capacity of bioplastics by market segmentThe extremely dynamic plastic and rubber industry have offered innovative solutions to society's ever-evolving demands. Some of the major players in the global polymer market include Dow Chemicals, LyondellBasell, ExxonMobil, and BASF. One of the world's largest plastics manufacturers, Dow, is the leading global supplier of primary polyethylene (PE) resin.
Brand value of PetroChinaThe plastic and rubber category presents statistics and reports on the plastic and rubber industry, including specialized information on the various types of plastic, as well as both synthetic and natural rubber. Within this sector, Statista provides data on the key figures, including product manufacturing, consumption, sales, and trade of polymer components on a global, regional, and local scale.
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