China to dominate the global plastics demand in 2026

Core Insights - The global plastics market is projected to grow at a CAGR of 2.6% from 2026 to 2030, with China leading the demand [1] Group 1: China's Dominance in Plastics Demand - In 2026, China's plastics demand is expected to reach 131.27 million tonnes per annum (mtpa), representing approximately 36% of global demand [2] - China's growth in plastics demand is driven by rapid urbanization, increasing consumer demand, and a robust petrochemical sector [2][3] - The country's export-driven economy heavily utilizes plastics across various sectors, including packaging, electronics, construction, and automotive [3] Group 2: Factors Supporting China's Market Leadership - The rising middle class, e-commerce growth, and ongoing infrastructure development in China are key factors boosting domestic demand for plastics [3] - Policies promoting advanced manufacturing, circular economy practices, and plastics recycling further strengthen China's position in the global market [3] Group 3: Other Key Markets - Following China, the US and India are significant consumers of plastics, with anticipated demands of 34.99 mtpa and 24.76 mtpa, respectively, in 2026 [4] - In the US, demand is primarily driven by the construction, packaging, and automotive sectors, while India's demand is fueled by urbanization, a young consumer base, and government initiatives [4]