Procurement Market Intelligence Report
Synthetic Resins
Sourcing Guide & Market Intelligence
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Synthetic Resins Global Overview
Definition
Summary
Synthetic resins, also commonly known as plastics, are man-made resins that harden when initially exposed to heat or pressure. Synthetic resins come in two main types: thermoset plastics and thermoplastics. Thermoset plastics are irreversibly cured, which means that, unlike thermoplastics, they cannot be reheated and melted into different shapes once set into a solid state. Key buyers include plastic film, sheet, and bag manufacturers, plastic pipe and part manufacturers, tire manufacturers, and semiconductor and electronic component manufacturers.
This Report Includes:
- Thermoset Plastics
- Thermoplastics
Not in this Report:
- Natural Resins
- Bio-Based Resins
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Global Synthetic Resins Procurement Trends
Discover the top international trends affecting procurement in the global Synthetic Resins market.
Warning Trends
Tariffs to negatively impact chemicals industry
- The Trump Administration’s reciprocal tariffs, which apply general tariff rate increases to most leading US trade partners in August, and raised tariffs on specific chemicals like branded and patented pharmaceutical products to 100.0% in October. These changes will significantly increase the tariff rate on leading chemical exporting countries, including the European Union (15.0%), Canada (35.0%), China (54.0%), Singapore (10.0%), and India (25.0%).
- Certain chemicals, including polyethylene, polypropylene, polyethylene terephthalate, phenols, ethylene, and titanium dioxide, are exempt from tariffs. However, according to Chemical Processing Magazine, tariffs, in general, are expected to add 2.0% to 5.0% to overall expenses for US chemical producers due to higher steel and equipment costs, as well as rising supply chain risk.
- China is a major supplier of chemicals to the United States, estimated to account for around 11.0% of total imports, according to the US Chamber of Commerce. Most of these imports are intermediate products used as inputs in domestic chemical production, meaning the tariffs will still impact chemical suppliers with US manufacturing operations.
- According to the Society of Chemical Manufacturers and Affiliates (SOCMA), the higher US tariff rate on imports of chemicals will disrupt supply chains and raise operating costs for domestic chemical manufacturers. Increased input costs are typically passed on to buyers in the form of higher prices.
- The United States is the most important export market for Germany’s chemical industry, and major suppliers like BASF are expected to be negatively impacted by the 15.0% tariff on the European Union member countries. However, chemicals covered under the United States-Mexico-Canada (USMCA) agreement, meaning those produced wholly in Mexico or Canada, will be exempt from tariffs on Canadian and Mexican imports, providing some relief for the highly integrated North American chemicals trade.
The European Commission is proposing the European Supply Chain Act
- Early in 2022, the European Commission (EC) proposed a new law that would impact supply chains throughout the European Union (EU).
- The law consists of provisions requiring companies to identify current and potential negative impacts on human rights and the environment throughout their supply chain and to mitigate these risks.
- Businesses will have to investigate all links of their supply chain, upstream and downstream, and adjust their supply chain to ensure labor rights and environmental standards are not being violated as a result of their operations over the course of two years.
- While many countries have their own national laws similar to the one being proposed by the EC, such as Germany’s German Supply Chain Due Diligence Act, this proposed law supersedes national laws and is stricter in most cases.
Global Synthetic Resins Market - Suppliers by Region
| Country/Region | Number of Suppliers |
|---|---|
| #1 China | 7,090 |
| #2 India | 3,000 |
| #3 Europe | 2,680 |
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Geography Drilldown - US & Europe
Average Cost of Synthetic Resins
United States
2026 Market Pricing$0.50 to $X.XX
per poundEurope
Average Price
Prices in the Synthetic Resins market range from $0.50 to $X.XX, depending on Plastic Type, Shore Hardness, Curing Time and Color. For example, lower prices are associated with Commodity thermoplastics ($0.10 to $0.40 per pound), whereas higher prices are associated with Thermoset plastics ($1.00 to $3.00 per pound) and High-temperature thermoplastics ($30.00 to $50.00 per pound).
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Between our Europe and Canada collections, we provide price data for 350 markets so you can instantly compare prices across borders. Or, use our custom research services for intel on prices in any region across the globe.
Synthetic Resins Category Price Trends
Pricing trends are indicated by the compound annual growth rate (CAGR) during a set period of time. For the Synthetic Resins market, prices in the US have declined -4.1% from 2022 to 2025. Meanwhile, the recent three-year CAGR for Europe is --0.4%.
United States (2022-2025)
Europe (2022-2025)
Compound Annual Growth Rate
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Price trend forecasts are available to subscribers, along with price driver projections and forward-looking cost structure data.
Cost Analysis - Total Cost of Ownership for Synthetic Resins
Total cost of ownership is Low in the Synthetic Resins market. The average cost of ownership differs depending on the contract but generally includes costs negotiated before the contract begins, costs billed during the contract period and unforeseen costs. For example, unforeseen costs in the form of Spoilage may raise the total cost of ownership unexpectedly.
Negotiated Before
Transportation
Billed During
Consumables
Unforeseen
Spoilage
Buyer Power in Procurement Negotiations
In 2026, buyer power amounts to 0.3 in the United States. Buyer power is most positively impacted by Price Driver Volatility. It is most negatively impacted by Recent Price Trend. Subscribers can access details on eight other factors that impact buyer power. Learn more
United States
Europe
Buyer power forecasts: your glimpse into the future
Develop strategies for the upcoming year and identify unforeseen opportunities for buying now
- Actionable "Buy Now" and "Buy Later" insights
- Near-real-time updates to current and forecast Buyer Power Scores
- Methodology and weightings for Buyer Power Score Components
Supply Chain Risk
The average level of supply chain risk is assessed as High, which has a negative impact on buyer power. The level of supply chain risk is affected by industry volatility, barriers to entry, competition, import penetration, regulation and industry financial risk. Buyers in this market can mitigate procurement and supply chain management risks by monitoring risk levels for individual first and second tier suppliers:
1st
Tier Suppliers
- Chemical Wholesalers
- Industrial Machinery & Equipment Wholesalers
- Computer & Packaged Software Wholesalers
2nd
Tier Suppliers
- Petrochemical Manufacturers
- Petroleum Refiners
- Semiconductor Machinery Manufacturers
- Iron & Steel Manufacturers
- Software Publishers
- Computer Manufacturers
Biggest Synthetic Resins Suppliers in the US by Revenue
The largest Synthetic Resins vendors by revenue in the US are SABIC Innovative Plastics, Arkema SA and Dupont De Nemours, Inc. Subscribers can sort and filter by market share concentration, profit level and other factors. Learn more
| Supplier | Operational Size | Headquarters | Number of Employees | Market Share (%) | Market Share Performance (3yr trend) | Total Revenue ($ million) | Profit Level (%) | Risk Level |
|---|---|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | Global | SPRING | >10,000 | 10-15 | ||||
| Dow Inc. | Global | MIDLAND, MI | >10,000 | 10-15 | ||||
| Eastman Chemical Co | Global | KINGSPORT, TN | >10,000 | 10-15 | ||||
| Dupont De Nemours, Inc. | Global | WILMINGTON | >10,000 | 15-20 | ||||
| Chevron Corp | Global | HOUSTON, CA | >10,000 | 5-10 | ||||
| Braskem Sa | Global | Sao Paulo, BR | 1,001-10,000 | 5-10 | ||||
| Basf Se | Global | Ludwigshafen, DE | >10,001 | 5-10 | ||||
| Lyondellbasell Industries N.V. | Global | HOUSTON | >10,000 | 5-10 | ||||
| Arkema SA | Global | Colombes, FR | >10,001 | 5-10 | ||||
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Subscribers can access vendor information on Canadian and European suppliers, too. We also offer custom research services to help with vendor sourcing anywhere in the world.
Profit Analysis
The average profit margin across vendors in the Synthetic Resins market is 6.1% and steady. Profit levels shift depending on suppliers' spend on wages, purchases and overhead. The highest cost component for vendors is Purchases. The cost trend for this component is rising, when considering movement between 2025 and 2026. To understand cost forecasts for 2027 and uncover the implications on profit, start your subscription. Learn more
Vendor & Supply Chain Analysis
The moderate level of market share concentration points to the fact that manufacturers, wholesalers, and retailers all distribute nearly identical products, thus giving buyers a wide variety of suppliers from which to choose and tempering any one supplier's ability to capture a large portion of market revenue. Additionally, the top suppliers occupy more than 40.0% of the market, slightly limiting the availability of suppliers for buyers to choose from.
There is moderate vendor risk for the synthetic resin market due to fluctuating demand within the market, along with contractions and expansions within the economy. This poses a moderate risk for buyers; however, the diversified nature of resin buyers mitigates some of the risk associated with demand fluctuations and maintains supplier financial stability by ensuring that falling demand from one market may be replenished by demand from another.
Supply chain risk in the market for synthetic resins is high, primarily due to the presence of chemical refineries and manufacturers within the supply chain. The smallest of disruptions can substantially affect these suppliers' operations, thus increasing the likelihood that resin prices will shift unexpectedly in response to changing market conditions.
As a net exporter in the synthetic resins market, US buyers gain better pricing leverage and negotiation opportunities. A surplus of goods gives US buyers more options to choose from, and makes them less dependent on overseas suppliers, thereby, aiding buyer power by diversifying supply chains.
Supplier Information
Dow Inc.
Dow Inc. is a public company operating globally in the manufacturing, information and professional, scientific and technical services sectors. The company's offerings include detergent, plasticizers, preservatives, waterproofing coatings, methanol. Founded in 1897, the company is currently headquartered in... Subscribe to learn more
Eastman Chemical Co
Eastman Chemical Co is a public company operating globally in the manufacturing sector. The company's offerings include synthetic fibers, plasticizers, preservatives, methanol, synthetic resins. Founded in 1918, the company is currently headquartered in KINGSPORT, Tennessee, United States of America with Subscribe to learn more
Exxon Mobil Corporation
Exxon Mobil Corporation is a public company operating globally in the mining, manufacturing, manufacturing and finance and insurance sectors. The company's offerings include refining catalysts, plasticizers, paraffins, lubricating oils, synthetic resins. Founded in 1999, the company is currently headquartered... Subscribe to learn more
Dupont De Nemours, Inc.
DuPont de Nemours, Inc. is a global company that develops technology-based materials, ingredients, and solutions for electronics, transportation, building and construction, health and wellness, food, and worker safety markets. It organizes its business into two reportable segments: the Electronics & Industrial... Subscribe to learn more
Arkema SA
Arkema SA is a public company operating globally in the manufacturing and wholesale trade sectors. The company's offerings include synthetic resins and refrigerants. Founded in 2004, the company is currently headquartered in Puteaux, France with an estimated employee count of over 10,000. Subscribe to learn more
Basf Se
Basf Se is a public company operating globally in the manufacturing, manufacturing and professional, scientific & technical services sectors. The company's offerings include pesticides, refining catalysts, plasticizers, preservatives, waterproofing coatings. Founded in 1865, the company is currently headquartered... Subscribe to learn more
Braskem Sa
Braskem Sa is a public company operating globally in the manufacturing sector. The company's offerings include synthetic resins. Founded in 2002, the company is currently headquartered in Sao Paulo, Brazil with an estimated 5500 employees. Subscribe to learn more
Chevron Corp
Chevron Corp is a public company operating globally in the manufacturing and finance and insurance sectors. The company's offerings include lubricating oils, synthetic resins, jet fuel, diesel fuel, gasoline. Founded in 1879, the company is currently headquartered in SAN RAMON, California, United States of... Subscribe to learn more
Huntsman Corporation
Huntsman Corporation is a global organic chemical manufacturer that produces chemicals and chemical formulations for the aerospace, automotive, coatings and construction, construction products, durable and non-durable consumer products, electronics, insulation, packaging, power generation, and refining markets.... Subscribe to learn more
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Procurement Management KPIs for the Synthetic Resins Market
Managing vendor performance throughout the contract period is easier when tracking specific key performance indicators (KPIs). For example, buyers should monitor Cost of Goods Sold and Customer Lifetime Value. Buyers may experience better performance throughout their contracts if they establish service level agreements (SLAs) based on Accuracy and other factors.
| KPI | Level of Importance (1-5) | Measurements | Key Considerations |
|---|---|---|---|
| Cost of Goods Sold |
|
Total revenue Total labor cost Total material cost Total service cost Total delivery cost |
The cost of goods sold takes into account the costs of labor, materials, service, and delivery. The cost of goods sold can be used to determine whether a supplier's costs of production are in line with their peers. The cost of goods sold can provide some indication of a supplier's overall profitability. |
| Customer Lifetime Value |
|
Average order total Average number of purchases per year Average retention time |
The customer lifetime value represents the revenue generated by the average customer throughout the duration of the average supply agreement. Buyers can use the CLV to determine the length of time that customers typically engage with a supplier, in addition to the amount of money customers typically spend with a supplier. |
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Questions to Ask During Procurement Negotiations
How can I gain leverage during negotiations?
Experience and Expertise
How long has your company been offering synthetic resins?
Which of your major clients operate in the same market as my company?
Supply Chain Risk
How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?
Have fluctuations in input costs affected your operations? If so, how?
Competition
How do your products stand out from your competitors’ products? Why is your product more or less expensive than your competitors' products?
What methods do you employ to attract and retain customers?
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Synthetic Resins RFP Guidelines
What should my RFP include?
Organizational Overview
Buyers should describe the size and location of each facility.
Buyers should describe their operations, indicating the intended application for the synthetic resins.
Statement Of Need
Buyers should detail all the properties they require of their synthetic resins.
Buyers should include any related products or services they are also interested in procuring.
Project Budget
Buyers should inform suppliers of the maximum value of the contract, but set the expectation that lower bids will be favored.
Buyers should set expectations for how often suppliers can alter prices in response to fluctuating production costs.
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- Supply chain and vendors
- Global supplier breakdown
- Market share concentration
- Regulation and business requirements
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