If you are looking to start your own plastics material and resin manufacturing business, there are several things you need to consider. First, before making any investment into the production of your own plastic product, you should evaluate how much demand your product will have in the market. If there is high demand, it’s definitely worth investing in your own plastic resins and materials manufacturing business. Before deciding on the type of plastic resins and materials that you want to manufacture, you need to take note of the specific properties required by your customers so that you can determine which type of plastic you will use in order to produce the desired product.
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Introduction to Plastics Material and Resins
Plastic materials are divided into two main types: thermoplastics and thermosets. Thermoplastics, which make up most of what we think of as plastics, are malleable at high temperatures but become rigid when cooled to room temperature. They can be molded or extruded into shapes that harden without further processing, such as injection molding.
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Thermosets, on the other hand, do not soften again after cooling; they remain solid and can only be processed with solvents. Thermoset plastics include polyesters (such as fiberglass), epoxies (used in boat hulls), silicones (such as sealants) and urethanes (such as coatings). Most resins are thermosetting plastics, although some resin systems can be formed from either type of plastic.
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A plastic material is often specified by its chemical composition. A material may have many different grades depending on its purity and level of refinement. There is usually no single standard composition for any given plastic material, since each application has different requirements. In plastics industry, plastic raw materials are also called as resins, but there are some differences between resin and plastic. At present, most of resins used in plastics industry belong to thermosetting plastics.
In thermosetting plastics, all main monomers have an active hydrogen, which can react with other monomers or crosslinking agents to form covalent bonds at room temperature or by heating. The reaction is irreversible and forms a stable three-dimensional network structure that cannot be broken down into its original components. The final product is hard, infusible, insoluble in solvents and heat resistant. Commonly used resins include phenol-formaldehyde (PF), urea-formaldehyde (UF), melamine-formaldehyde (MF) and so on.
Plastics Material and Resin industry
The plastics material and resin industry is made up of companies that manufacture polymers such as polyethylene, polystyrene, polypropylene, polyvinyl chloride (PVC), acrylonitrile butadiene styrene (ABS) and high-density polyethylene (HDPE). These manufacturers use raw materials derived from natural gas, coal or petroleum to produce plastic pellets. The industry also produces resins which are intermediates in making plastic products. Raw materials used by these manufacturers include ethylene, propylene, vinyl acetate monomer (VAM), vinyl chloride monomer (VCM) and tetrafluoroethylene monomer (TFEM). Other products produced by these companies include nylon 6/6 fibers, nitrile rubber and methyl methacrylate copolymer. Some major producers of plastics material and resin include ExxonMobil Chemical Company, Dow Chemical Company, LyondellBasell Industries NV and Chevron Phillips Chemical Company LLC.
Related Feasibility Study Reports: Plastics, Polymers and Resins, Polypropylene (PP), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS), Polyethylene terephthalate (PET), Polyester, PA, Poly (vinyl chloride) (PVC), Polyurethanes (PU), Polycarbonate (PC), Polyethylene (PE) Projects
Market Size of Plastics Material and Resins
The global plastic material and resins market reached a value of nearly $466.2 billion in 2020, having increased at a compound annual growth rate (CAGR) of 1.2% since 2015. The market is expected to grow from $466.2 billion in 2020 to $659.2 billion in 2025 at a rate of 7.2%. The market is then expected to grow at a CAGR of 3.5% from 2025 and reach $ 784.2 billion in 2030.
Growth in the historic period in the plastic material and resins market resulted from increased demand for industrial packaging products, growth of motor vehicles, and growth in the construction industry. The market was restrained by stringent regulations, and environmental concerns over plastics. Going forward, new developments in packaging will drive the growth in the plastic material and resins market.
New developments in the packaging industry, such as CO2RE foaming technology, big data, IoT integration are expected to drive the plastic material and resins market going forward. Convenience features, such as resalable packs, easy-opening, stand-up pouches and smaller pack sizes for single-servings are being introduced and more promotional packs and brand extensions are being developed to ensure customer loyalty. Similarly, recent development of bio-degradable plastics which degrade naturally from the actions of microorganism such as bacteria, algae and fungi is gaining traction. These developments in packaging will increase the consumption of plastics and will in turn drive the market growth.
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List of Products that are Being Made under this Industry:
- Acetal resins manufacturing
- Acrylic resins manufacturing
- Acrylonitrile-butadiene-styrene (ABS) resins manufacturing
- Alkyd resins manufacturing
- Allyl resins manufacturing
- Amino resins manufacturing
- Amino-aldehyde resins manufacturing
- Butadiene copolymers containing less than 50 percent butadiene manufacturing
- Carbohydrate plastics manufacturing
- Casein plastics manufacturing
- Cellulose acetate resins manufacturing
- Cellulose nitrate resins manufacturing
- Cellulose propionate resins manufacturing
- Cellulose resins manufacturing
- Cellulose xanthate (viscose) manufacturing
- Coal tar resins manufacturing
- Coumarone-indene resins manufacturing
- Cresol resins manufacturing
- Cresol-furfural resins manufacturing
- Dicyandiamide resins manufacturing
- Diisocyanate resins manufacturing
- Elastomers (except synthetic rubber) manufacturing
- Epichlorohydrin bisphenol manufacturing
- Epichlorohydrin diphenol manufacturing
- Epoxy resins manufacturing
- Ester gum manufacturing
- Ethylcellulose plastics manufacturing
- Ethylene-vinyl acetate resins manufacturing
- Fluoro-polymer resins manufacturing
- Fluorohydrocarbon resins manufacturing
- Ion exchange resins manufacturing
- Ionomer resins manufacturing
- Isobutylene polymer resins manufacturing
- Lignin plastics manufacturing
- Melamine resins manufacturing
- Methyl acrylate resins manufacturing
- Methylcellulose resins manufacturing
- Methyl methacrylate resins manufacturing
- Nitrocellulose (i.e., pyroxylin) resins manufacturing
- Nylon resins manufacturing
- Petroleum polymer resins manufacturing
- Phenol-formaldehyde resins manufacturing
- Phenol-furfural resins manufacturing
- Phenolic resins manufacturing
- Phenoxy resins manufacturing
- Phthalic alkyd resins manufacturing
- Phthalic anhydride resins manufacturing
- Plastics and synthetic resins regenerating, precipitating, and coagulating
- Polyacrylonitrile resins manufacturing
- Polyamide resins manufacturing
- Polycarbonate resins manufacturing
- Polyester resins manufacturing
- Polyethylene resins manufacturing
- Polyethylene terephthalate (PET) resins manufacturing
- Polyhexamethylenediamine adipamide resins manufacturing
- Polyisobutylene resins manufacturing
- Polymethacrylate resins manufacturing
- Polypropylene resins manufacturing
- Polystyrene resins manufacturing
- Polytetrafluoroethylene resins manufacturing
- Polyurethane resins manufacturing
- Polyvinyl alcohol resins manufacturing
- Polyvinyl chloride (PVC) resins manufacturing
- Polyvinyl halide resins manufacturing
- Polyvinyl resins manufacturing
- Propylene resins manufacturing
- Protein plastics manufacturing
- Pyroxylin (i.e., nitrocellulose) resins manufacturing
- Resins, plastics (except custom compounding purchased resins), manufacturing
- Rosins (i.e., modified resins) manufacturing
- Silicone resins manufacturing
- Soybean plastics manufacturing
- Styrene resins manufacturing
- Styrene-acrylonitrile resins manufacturing
- Tar acid resins manufacturing
- Thermoplastic resins and plastics materials manufacturing
- Thermosetting plastics resins manufacturing
- Urea resins manufacturing
- Urea-formaldehyde resins manufacturing
- Vinyl acetate resins manufacturing
- Vinyl chloride resins manufacturing
- Vinyl resins manufacturing
- Vinylidene resins manufacturing
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