The global plastic resins market could reach US$982.3 billion by 2028, according to a new report.

According to authors Polaris Market Research, major factors propelling the resins market growth include increasing demand from the automotive, construction, packaging, and electrical and electronics sector.

Growth in electric vehicles and regulations to reduce carbon emissions and vehicle weight to improve fuel efficiency is expected to boost the automotive market over the coming years, the company said.

Asia Pacific region is projected to dominate the resins industry during the forecast period due to the presence of major manufacturers in countries such as China.

This story uses material from Polaris, with editorial changes made by Materials Today.