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CHEMICALS AND ADVANCED MATERIALS

Plastic Containers Market Analysis by Material (Polypropylene, Polystyrene, Polyethylene, High-density Polyethylene, Low-density Polyethylene, Polyethylene Terephthalate, and Others); by Product (Bottles, Boxes & Bins, Trays, Cups, Lids, Thin Wall Pails, Bowls, and Others); by Manufacturing (Thermoformed, Vacuum Technology, Injection Molded Technology, and Others); by End-Use (Beverages, Cosmetic, Household Care and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Amcor Group GmbH has launched its latest OmniPack PET bottles to meet the requirements for ecommerce-ready packaging.
  • ALPLA Group along with Vöslauer has entered into a partnership to develop a new PET bottle for the Austrian market that will reduce the carbon footprint by 30%.

Global Plastic Containers Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~ 4%

Base Year Market Size (2022)

~ USD 40 Billion

Forecast Year Market Size (2033)

~ USD 80 Billion

The global plastic containers market is estimated to garner a revenue of ~ USD 80 Billion by the end of 2033 by growing at a CAGR of ~4% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 40 Billion in the year 2022. The primary factor that is attributed for the plastic container market expansion is the rapid growth in the plastic industry. The recent reports suggest that the total value of the United States plastic shipments was around USD 400 billion in 2020.

Vinyl-Ester-Market-Analysis

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Plastic has numerous advantages including lightweight, low cost, and durability, owing to which, it is used more commonly than other materials. The usability of plastic containers comes in a variety of applications, such as storage of chemicals, care products, food and beverages, and pharmaceutical products for transport and storage. Further, plastic containers are as stronger than steel. because of their durability. As a result, the plastic product has grown considerably in the past few years, which in turn, is expected to bring lucrative opportunities in the plastic containers market. As of 2019, it was estimated that in the United States, almost 40 million tons of plastic are used every year.

Global Plastic Containers Market: Growth Drivers and Challenges

Growth Drivers

  • Fast Plastic Production Rate – Being light-weighted, affordable, and non-reactant, containers of plastics are finding applications across the spectrum. The versatility of the plastic has propelled the population to produce more plastic containers which is further projected to fuel the market growth. As per latest reports by Organization for Economic Co-operation and Development, it was estimated that the global plastic production rose from 2000 to 2019 and stood up at approximately 460 million tons. 
  • Increased Need of Plastic Products – The recent data disclosed in 2022, around one million plastic bottles are purchased every minute and around five trillion plastic bags are used every year across the world.
  • Recent Boom in Automotive Industry - As per recent statistics, the revenue generation by the global automotive industry by 2030 is projected to reach at USD 9 trillion.
  • Expansion of Packaging Sector - The latest reports, revealed that the packaging industry in the United States was valued at USD 190 Billion in 2021 and is forecasted to reach USD 220 Billion by 2027.
  • Spike in Chemical Industry – Latest reports stated that the revenue garnered by the global chemical industry in the year 2021 was approximately 4 trillion dollars, a considerable increment from the previous year with 3 trillion dollars.  

Challenges

  • Adverse Effect on Humans and Environment
  • Rising Awareness About Plastic Waste
  • Stringent Governmental Rules Regarding Environmental Protection

The plastic containers market is segmented and analyzed for demand and supply by product into bottles, boxes & bins, trays, cups, lids, thin wall pails, bowls, and others. Out of these, the bottle segment is expected to attributed to garner the highest market share, owing to the high consumption of plastic bottles by the population. A report published in 2022 stated that about 1 million plastics are used by humans per minute in total. Further, the high production rate of bottles for everyday use is anticipated to be an another growth factor for the segment. In 2021, around 500 billion PET bottles were produced worldwide.

Major Macro-Economic Indicators Impacting the Market Growth

Major-Macro-Economic-Indicators-Impacting-the-Market-Demand-Analysis

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

 Global Plastic Containers Market Regional Synopsis

Regionally, the global plastic containers market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, owing to the high production rate of plastic in the region. In 2019, Asia accounted for approximately 50% of the total global production of plastic materials. Further, the high consumption rate of plastic and plastic products in the region are another growth factors for the plastic containers market in the forecast period. It was estimated that China volume of plastic used in China amounted to be more than 90 million metric tons in 2019.

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The global plastic containers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global plastic containers market includes the following segments:

By Material

  • Polypropylene (PP)
  • Polystyrene (PS)
  • Polyethylene (PE)
  • High-density Polyethylene (HDPE)
  • Low-density Polyethylene (LDPE)
  • Polyethylene Terephthalate (PET)
  • Others

By Product

  • Bottles
  • Boxes & Bins
  • Trays
  • Cups
  • Lids
  • Thin Wall Pails
  • Bowls
  • Others

By End-use

  • Beverages
  • Food
  • Pharmaceutical
  • Cosmetic
  • Household Care
  • Industrial
  • Others

By Manufacturing

  • Thermoformed
  • Vacuum Technology
  • Injection Molded Technology
  • Others

Top Featured Companies Dominating the Global Plastic Containers Market

  • Amcor Group GmbH
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Plastipak Holdings, Inc.
  • ALPLA Group
  • Graham Packaging Company, L.P.
  • Berry Global Inc.
  • Greiner AG
  • Visy Group
  • Shanghai Zijiang Enterprise Group Co., Ltd
  • Crown Holdings, Inc.
  • Silgan Holdings Inc.

 

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