GITNUX MARKETDATA REPORT 2024

Global Plastics Industry Statistics

The Global Plastics Industry is projected to grow at a CAGR of 3.2% from 2021 to 2026, driven by increased demand from various sectors such as packaging, automotive, and construction.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore key statistics surrounding the global plastics industry, shedding light on its significant scale and impact. From the massive production volumes and market sizes to concerning trends like plastic waste in oceans and environmental implications, these statistics provide a comprehensive overview of an industry that plays a critical role in various sectors worldwide. Let’s dive into the numbers that define the global plastics landscape.

Statistic 1

"Over 300 million tons of plastic are produced every year, globally."

Statistic 2

"China is the largest producer of plastic, making up 30.8 percent of global production in 2020."

Statistic 3

"The global plastic market size was valued at USD 579.19 billion in 2020."

Statistic 4

"The plastic industry is expected to grow at a CAGR of 3.4% from 2021 to 2028."

Statistic 5

"The Asia-Pacific region consumed over 46% of the overall plastic raw material globally in 2020."

Statistic 6

"Approximately 8 million metric tons of plastic enters the oceans annually."

Statistic 7

"The plastic-to-fuel (PTF) market is expected to grow from USD 972 million in 2021 to USD 1,675 million in 2026, a CAGR of 11.5% during the forecasted period."

Statistic 8

"The global plastic market share for polyethylene is 36%."

Statistic 9

"40 percent of plastic produced is packaging, used just once and then discarded."

Statistic 10

"Single-use-plastics frequently do not make it to a landfill or are recycled. A full 32% of the 78 million tons of plastic packaging produced annually is left to flow into our oceans."

Statistic 11

"Only 9% of all plastic waste ever produced has been recycled."

Statistic 12

"By 2025, plastic packaging is projected to consume 20% of oil production."

Statistic 13

"Plastic industry uses more than 8% of world’s oil production."

Statistic 14

"The global bioplastics & biopolymers market size was USD 10.10 billion in 2020 and is projected to reach USD 27.08 billion by 2028."

Statistic 15

"PET plastic bottles market is expected to reach USD 13.831 billion by 2028."

Statistic 16

"Global demand for plastic films stood at around 71.31 million metric tons in 2020."

Statistic 17

"Plastic production has increased twentyfold since the 1960s, reaching 322 million tons in 2015."

Statistic 18

"The global plastics market size for construction applications was valued at USD 75.6 billion in 2019."

Statistic 19

"The medical plastics market worldwide is expected to grow at a CAGR of approximately 5.2% between 2019 and 2026."

The statistics presented here paint a complex picture of the global plastics industry, showcasing both its vast scale and significant environmental impact. With over 300 million tons of plastic produced annually and China leading the way with 30.8% of global production, the industry’s growth shows no signs of slowing down, projected to increase by 3.4% by 2028. However, the alarming figures on plastic waste management, recycling rates, and ocean pollution highlight the urgent need for sustainable practices and innovative solutions to mitigate the environmental consequences of plastic production and consumption. Despite the market’s expansion, the statistics underscore the pressing necessity for a more sustainable approach to plastic use and disposal to safeguard our environment for future generations.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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