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Plastic Distributors Foresee Growing Markets

Plastic distributors provide a wide range of plastic sheet, rods, shapes and resins to manufacturers around the world.

The market for pipes, rods and shapes was approximately $106.5 billion in 2018 and is expected to grow to around $137.1 billion in 2022, while the value of the global plastic films and sheets market is forecasted to reach $157.5 billion by 2025.

The expected growth in sheets and films is largely attributed to expanding applications in consumer goods and food and beverages, spurred by demographic changes and trends in active lifestyles and sustainability.

Low-density polyethylene and linear low-density polyethylene account for the largest portion of the sheets and films market. Applications for these materials include food packaging, textile packaging and specialty applications in tents and outdoor equipment.

High-density polyethylene composes the next largest share of the market. HDPE is popular for food packaging applications because of its resistance to chemicals, corrosion, moisture and odor.

Estimated at $579.7 billion in 2020, the plastics resin distribution market is expected to grow at a compound annual growth rate of 3.4% through 2028. The growth is due to a projected increase in the use of plastics in the construction, automotive and electrical and electronics industries.

The increase in automotive applications is attributed to regulations geared toward improving fuel efficiency and reducing carbon emissions. To comply with these regulations, manufacturers are looking to reduce gross vehicle weight by substituting plastic components for metal parts. Compared to metal, plastics can deliver an 80% reduction in the weight of components.

Globally, the growing construction industry in countries like China, India, Brazil and Mexico also will continue to fuel the expansion in plastic resin.

Based on revenue, polyethylene makes up the largest portion of plastic resin distribution at approximately 25%. Increased applications for packaged food, trays, bottles for milk and fruit juices, crates, caps for food packaging and drums will fuel an expected growth in the demand for polyethylene.

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