15 Largest Plastic Manufacturing Companies in the World

In this article, we will discuss the 15 largest plastic manufacturing companies in the world.

The plastic manufacturing industry produces a variety of plastic products for a range of different uses, from packaging to construction materials. Plastic is widely used in many industries because it is lightweight, durable, and cost-efficient. Plastic manufacturing typically involves the use of injection molding, extrusion, and blow molding processes, among others. Injection molding involves forcing molten plastic into a mold to create a desired shape. Extrusion involves forcing plastic through a die to create a continuous shape. Blow molding involves blowing air into a plastic container or bottle to create a desired shape. The industry also uses a variety of secondary processes, such as painting, machining, and assembly. Companies may also offer custom services, such as designing and creating molds and dies for specific products.

The Global Plastic Industry: An Analysis

According to a market research report by Grand View Research, the global plastic industry was worth $593 billion in 2021. The industry is projected to grow to $811.57 billion by 2030 at a compound annual growth rate of 3.7%, from 2022 to 2030.

Favorable demand trends for plastic products from lucrative end-markets such as consumer electronics, construction, and automotive are expected to drive this growth. The use of plastics as a substitute for metal is another prominent growth driver. Moreover, increased construction activities in emerging markets, such as India and China, is driving the growth of the plastic manufacturing industry.

By product type, Polyethylene held the dominant market share of the global plastic market in 2021, and accounted for over 25% of global revenue. Polyethylene is widely used in packaging materials such as containers and bags. Acrylonitrile butadiene styrene, or ABS, is another popular plastic product that is primarily used in consumer goods and electronics.

As mentioned above, plastic is manufactured through a variety of processes. However, the injection molding process held the dominant market share and accounted for over 43% of the global demand for plastics in 2021.  Injection molding is the go-to process for the production of medical devices and automotive parts.

In 2021, the APAC region held the largest revenue share of the global plastic market and accounted for 44% of global revenue. With rapid urbanization and the growth of emerging economies, the APAC region is expected to retain its position through the forecasted period.

Some of the largest companies in the world, such as Tesla, Inc. (NASDAQ:TSLA), The Boeing Company (NYSE:BA), and The Coca-Cola Company (NYSE:KO), all rely heavily on plastics. Automotive, medical devices, electronics, aviation, construction, and packaging, are some of the biggest markets for plastic manufacturing. Companies operating in these industries are expected to drive the growth of the global plastics market as they look for light-weight and cost-effective solutions.

Photo by Nick Fewings on Unsplash

Our Methodology

We sifted through market research reports and identified the major players operating in the plastic manufacturing industry. We narrowed down our selection to companies with the largest revenue, largest market cap, and highest number of employees. For public companies, we used the market cap to quantify each company’s size and ranked our picks in ascending order of their market cap in U.S. dollars. For private companies, we used their annual revenue to quantify their size. For companies listed on non-U.S. exchanges or with financial statements in their native currencies, we converted their market caps and revenues from their native currencies to U.S. dollars. Some of the companies in our list are pure plastic manufacturers, while others make materials and chemicals used in plastic manufacturing.

Largest Plastic Manufacturing Companies in the World

15. Toray Industries, Inc. (OTC:TRYIY)

Market Cap as of January 12: $9.10 Billion

Toray Industries, Inc. (OTC:TRYIY) produces and sells fibers, textiles, performance chemicals, carbon fiber composite materials, environmental and engineering products, and life science products worldwide. The company offers yarns, fabrics, non-woven fabrics, resins, molded products, foam products, films, processed film products, synthetic fibers, chemicals, electronic materials, graphic materials, carbon fibers, molded products, pharmaceuticals, medical devices, engineering services, condominiums, industrial equipment, IT-related equipment, membranes, housing materials, and building materials. Toray Industries, Inc. (OTC:TRYIY) was founded in 1926 and is based in Tokyo, Japan. The company employs over 48,000 individuals and is worth $9.10 billion, as of January 12.

Some of the biggest companies that have brought, and are expected to further bring, business to the global plastics industry include Tesla, Inc. (NASDAQ:TSLA), The Boeing Company (NYSE:BA), and The Coca-Cola Company (NYSE:KO).

14. Evonik Industries AG (OTC:EVKIY)

Market Cap as of January 12: $10.10 Billion

Evonik Industries AG (OTC:EVKIY) is a German company that specializes in chemical production. The company provides various additives, surfactants, smart materials, performance materials and infrastructure services. The company’s products are used in many sectors, such as automotive, construction, and consumer goods. Evonik Industries AG (OTC:EVKIY) has operations in several regions, including Europe, Asia–Pacific, and North and South America. Evonik Industries AG (OTC:EVKIY) was founded in 1873 and employs roughly 34,000 individuals. As of January 12, Evonik Industries AG (OTC:EVKIY) is worth $10.10 billion and is one of the largest plastic manufacturing companies in the world, by market cap.

13. Eastman Chemical Company (NYSE:EMN)

Market Cap as of January 12: $10.97 Billion

Eastman Chemical Company (NYSE:EMN) is a specialty materials company in the US and overseas. The company operates through four segments: Additives & Functional Products, Advanced Materials, Chemical Intermediates, and Fibers. The company’s Additives & Functional Products segment provides hydrocarbon and rosin resins, organic acid solutions, amine-based building blocks, soil fumigants, fungicides, plant regulators, specialty and commodity solvents, paint additives, and specialty polymers. Its Advanced Materials segment offers copolyesters, biopolymers, cellulose esters, PVB sheets, and window and protective films. The company’s Chemical Intermediates segment provides methylamines, higher amines, solvents, Olefin derivatives, and plasticizers. Finally, Eastman Chemical Company (NYSE:EMN) supplies cellulose acetate tow, triacetin, flake, acetic acid, and anhydride for filtration and yarns, as well as nonwoven media, papers, and cellulose fibers, through its Fibers segment. Eastman Chemical Company (NYSE:EMN) was founded in 1920 and is based in Tennessee. As of January 12, the company is worth $10.97 billion.

12. Celanese Corporation (NYSE:CE)

Market Cap as of January 12: $12.91 Billion

Celanese Corporation (NYSE:CE) is a technology and specialty materials company that produces and sells engineered polymers in the U.S. and internationally. The company has three divisions: Engineered Materials, Acetate Tow, and Acetyl Chain. The Engineered Materials division produces specialty polymers for auto, medical, industrial, and consumer electronics, as well as sweeteners and food protection ingredients. The Acetate Tow division produces acetate tows and flakes for filter products, and the Acetyl Chain division manufactures acetyl products and solvents used for colorants, paints, adhesives, coatings, pharmaceuticals, agricultural products, and chemicals. Celanese Corporation (NYSE:CE) also produces vinyl acetate-based emulsions and ethylene vinyl acetate resins and compounds, as well as ultra-high molecular weight polyethylene. The company was founded in 1918 and is based in Irving, Texas.

Celanese Corporation (NYSE:CE) is one of the largest plastic manufacturing companies in the world and is valued at $12.91 billion, as of January 12.

11. Formosa Plastics Corporation (TPE:1301)

Market Cap as of January 12: $18.39 Billion

Formosa Plastics Corporation (TPE: 1301) is a Taiwan-based chemical and plastics company founded in 1954. The company is one of the largest petrochemical companies in Taiwan and also one of the largest producers of polyvinyl chloride (PVC) in the world. Formosa Plastics Corporation (TPE:1301) produces a wide range of products, including Chlor-Alkali, Polyethylene, Polypropylene, Suspension PVC, Specialty PVC, and other plastic compounds.

Formosa Plastics Corporation (TPE:1301) is an important player in the global plastics market and is one of the largest plastic manufacturing companies in the world. As of January 12, the company is worth $18.39 billion on the open market.

10. INEOS Group Limited

Annual Revenue (2021): $20.38 Billion

INEOS Group Limited is a multinational chemical company based in the United Kingdom. It is among the world’s largest private chemical companies by revenue, with an annual revenue of over $20 billion, as of 2021. The company produces products ranging from basic chemicals, such as chlorine and ethylene, to advanced materials and specialty chemicals, such as polyethylene, styrenics, and performance chemicals. The company also produces chemicals for the automotive, construction, electronics, and medical industries.

INEOS Group Limited is a global leader in the plastic manufacturing industry, with a presence in more than 25 countries. The company produces and sells a variety of plastic products, including polyethylene, polypropylene, polystyrene, and PVC, among others. INEOS’ portfolio of products is used for a variety of applications, including packaging, construction, automotive, and consumer goods. The company has a strong presence in the global plastic manufacturing industry, and is among the top producers of polyethylene and polypropylene.

9. LyondellBasell Industries N.V. (NYSE:LYB)

Market Cap as of January 12: $30.2 Billion

LyondellBasell Industries N.V. (NYSE:LYB) is a chemical company based in Houston, Texas, that operates in the U.S., Germany, Mexico, Italy, Poland, France, Japan, China, and the Netherlands. The company operates 6 business segments: Olefins/Polyolefins-Americas, Olefins/Polyolefins-Europe/Asia/International, Intermediates/Derivatives, Advanced Polymer Solutions, Refining, and Technology. LyondellBasell Industries N.V. (NYSE:LYB) produces olefins, co-products, polyethylene, polypropylene, propylene oxide, oxyfuels, intermediates, compounds/solutions, catalysts, and also refines crude oil into gasoline and distillates. LyondellBasell Industries N.V. (NYSE:LYB) was founded in 2009 and has grown to become one of the largest plastic manufacturing companies in the world with a market cap of $30 billion, as of January 12.

8. DuPont de Nemours, Inc. (NYSE:DD)

Market Cap as of January 12: $37.21 Billion

DuPont de Nemours, Inc. (NYSE:DD) is based in Wilmington, Delaware and produces tech-based materials and solutions in the U.S., Canada, Asia Pacific, Latin America, Europe, Middle East, and Africa. The company has three segments: Electronics & Industrial, Mobility & Materials, and Water & Protection. The Electronics & Industrial sells materials for semiconductor and circuit fabrication, PCBs, LEDs, metal finishing, displays, and specialty silicones. DuPont de Nemours, Inc. (NYSE:DD) provides engineering resins, silicone, films, and pastes for transportation, electronics, industrial, and consumer end-markets through its Mobility & Materials segment. The Water & Protection supplies products and systems for worker safety, water purification, energy, medical packaging, and building materials. DuPont de Nemours, Inc. (NYSE:DD) is worth $37.21 billion, as of January 12, and is among the largest plastic manufacturing companies in the world.

7. Dow Inc. (NYSE:DOW)

Annual Revenue 2021: $40.51 Billion

Dow Inc. (NYSE:DOW) is a materials science solutions provider in the US, Canada, Europe, the Middle East, Africa, India, the Asia Pacific, and Latin America. It has three segments: Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings. The company offers ethylene, propylene and aromatics products; polyethylene, polyolefin elastomers, ethylene vinyl acetate, and ethylene propylene diene monomer rubbers through its Packaging & Specialty Plastics segment. The company’s Industrial Intermediates & Infrastructure segment provides ethylene oxides, propylene oxides, propylene glycol and polyether polyols, aromatic isocyanates and polyurethane systems, coatings, adhesives, sealants, elastomers, and composites. Additionally, Dow Inc. (NYSE:DOW) provides architectural paints & coatings, industrial coatings, performance silicones & specialty materials, and silicone feedstocks & intermediates through its Performance Materials & Coatings segment.

Dow Inc. (NYSE:DOW) was founded in 2018 and is based in Midland, Michigan. The company has quickly grown to become one of the largest plastic manufacturing companies in the world and is valued at $40.5 billion, as of January 12.

The plastic manufacturing industry has high exposure to a diverse range of lucrative end-markets that are led by giant companies like Tesla, Inc. (NASDAQ:TSLA), The Boeing Company (NYSE:BA), and The Coca-Cola Company (NYSE:KO).

6. BASF SE (OTC:BASFY)

Market Cap as of January 12: $51.69 Billion

BASF SE (OTC:BASFY) is a global chemical company with six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions. The company provides petrochemicals & intermediates, advanced materials & their precursors, ingredients & additives for industrial applications, chemical solutions & automotive OEM, nutrition & care ingredients, crop protection products & seeds, and battery materials solutions. Founded in 1865 and headquartered in Ludwigshafen am Rhein, Germany, BASF SE (OTC:BASFY) is one of the largest plastic manufacturing companies in the world. As of January 12, the company is worth over $51 billion on the open market.

5. Saudi Basic Industries Corporation (TADAWUL:2010)

Market Cap as of January 12: $74.67 Billion

Saudi Basic Industries Corporation (TADAWUL:2010), or more commonly known as SABIC, is one of the world’s largest diversified chemical companies and a global leader in the chemical industry. The company is publicly listed on the Saudi Stock Exchange and is based in Riyadh, Saudi Arabia and has operations in over 50 countries. Saudi Basic Industries Corporation (TADAWUL:2010) produces a wide range of petrochemicals, including olefins, aromatics, methanol, ethylene glycol, and polyethylene, as well as fertilizers, metals and industrial chemicals. The company also has interests in manufacturing, engineering and technology-based businesses.

As of January 12, Saudi Basic Industries Corporation (TADAWUL:2010) is worth SAR 282 billion, or $74.67 billion, and is placed high among the largest plastic manufacturing companies in the world.

4. China Petroleum & Chemical Corporation (SHA:600028)

Market Cap as of January 12: $75.87 Billion

China Petroleum & Chemical Corporation (SHA:600028), also known as Sinopec, is one of the world’s leading integrated oil and gas companies. It is also a major player in the global plastics manufacturing industry. The company operates through five segments: Exploration and Production, Refining, Marketing and Distribution, Chemicals and Corporate and Others. China Petroleum & Chemical Corporation (SHA:600028) has a comprehensive portfolio of petrochemical products, including plastic resins, polyethylene, polypropylene, and other plastics. China Petroleum & Chemical Corporation (SHA:600028) is a major player in the global plastic manufacturing industry and is well-positioned to capitalize on growth opportunities in the sector. Its strong brand recognition and extensive distribution networks help it compete effectively against other leading players in the industry. The company is also well-positioned to benefit from the growing demand for plastic products in the future.

As of January 12, China Petroleum & Chemical Corporation (SHA:600028) is worth over $75 billion and is one of the largest plastic manufacturing companies in the world.

3. TotalEnergies SE (NYSE:TTE)

Market Cap as of January 12: $157.10 Billion

TotalEnergies SE (NYSE:TTE) is a French multinational energy company, involved in the production and distribution of oil, natural gas and petrochemicals. The company is one of the largest plastic manufacturing companies in the world and its operations span across the entire plastics value chain, from feedstock and resin production to compounding, processing and recycling. The company operates a range of plants and facilities around the world, in over 130 countries, producing a variety of plastic products for a range of industries. As of January 12, TotalEnergies SE (NYSE:TTE) is worth $157.10 billion.

2. LG Chem, Ltd. (KRX:051910)

Market Cap as of January 12: $204.5 Billion

LG Chem, Ltd. (KRX:051910) is one of the largest chemical companies in the world, with operations in 15 countries. The company is a leading producer of petrochemicals, plastics, and specialty chemicals, with a large presence in the automotive, electronics, and energy industries. It also produces advanced materials, including Li-ion batteries, OLED displays, and fuel cells. As of January 12, LG Chem, Ltd. (KRX:051910) is worth KRW 46.96 trillion, or $204.5 billion, and is one of the largest plastic manufacturing companies in the world.

1. Exxon Mobil Corporation (NYSE:XOM)

Market Cap as of January 12: $458.77 Billion

Exxon Mobil Corporation (NYSE:XOM) explores, extracts, and sells crude oil and natural gas globally. The oil and gas giant also manufactures, trades, transports, and sells petroleum products, petrochemicals, and other special items across the globe. Exxon Mobil Corporation (NYSE:XOM) is a major player in the plastic manufacturing industry. The company produces petrochemicals, such as olefins, polyolefins, aromatics, and other petrochemicals that are the building blocks of a wide array of plastic products.

Basically, Exxon Mobil Corporation (NYSE:XOM) manufactures and provides the necessary components for an expansive range of plastic products, such as packaging materials, plastic containers, car bumpers, artificial rubber, and many more. As of January 12, Exxon Mobil Corporation (NYSE:XOM) is worth $458.7 billion on the open market and is the largest plastic manufacturing company in the world.

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Disclosure: None. 15 Largest Plastic Manufacturing Companies in the World is originally published on Insider Monkey.