Plastic Resin Market To Witness A Significant Growth Of USD 1.07 Trillion By 2030: Grand View Research Inc.
San Francisco, 1 March 2024: The Report Plastic Resin Market Size, Share & Trends Analysis Report By Product (Crystalline Resin, Non-crystalline Resin, Engineering Plastic), By Application (Packaging, Automotive, Construction), By Region, And Segment Forecasts, 2024 - 2030 The global plastic resin market size is expected to reach USD 1.07 trillion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a 4.5% CAGR over the forecast period. The increasing consumption of plastic resins in construction, automotive, electrical, and electronics applications is boosting the market growth. Government intervention to reduce overall vehicle weight to improve fuel efficiency and reduce carbon emissions has prompted automakers to use resins to replace steel and aluminum in automotive components. Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Ag