The fossil-based plastics market is growing rapidly and is expected to generate hundreds of millions in revenue from 2025 to 2034, helping drive changes in sustainable transportation. This growth is due to the rising demand for fossil-based plastics from many industries because they are strong, durable, and cost-effective. The Polyethylene (PE) segment remains the largest in the market. Leading companies are focused on improving the functionality of fossil-based plastics through innovation.
Fossil-Based Plastics Market Key Players
Latest Announcement by Industry Leader
- In June 2025, Dhunseri Group, a Kolkata-based company, announced its plan to invest around ₹2,240 crore in expanding its plastic packaging material capacity through a mix of greenfield and brownfield projects by 2029. Dhunseri Poly Films Private Limited, a subsidiary of Dhunseri Ventures, is looking to set up at least two additional lines: a BOPET (biaxially oriented polyethylene terephthalate) line and a BOPP (biaxially oriented polypropylene) line. The investment for this project is estimated at ₹1,000 crore, and the lines are expected to be operational by 2029.
Recent Developments
- On 15 October 2024, Forum Recycling and Waste, a top waste management and circular solutions company from Finland, has succeeded in generating biodegradable plastic from carbon dioxide 9CO2) emissions from waste ignited at its plant in Riihimaki, Finland.
- On 28 January 2025, a Washington State University-led research team utilised an environmentally friendly preparation of lignin as a replacement for 20% of the fossil-fuel-based chemicals in the foam. The bio-based foam was rigid and flexible like specific polyurethane foam.
- On 16 January 2025, Amazon started to deliver and pack groceries for customers in Spain using bio-based bags made from vegetable material generated in Europe, including corn starch and vegetable oil, that can one day be recycled into new bags.
- On 11 July 2025, Ontex Group NV, a top international developer and generator of personal care solutions, is advancing its sustainability with the revelation of bio-based superabsorbent polymers (bioSAP) in its diapers, with a primary rollout in chosen products.
- On 24 June 2025, Cellugy, a Denmark-based company, disclosed that it has secured USD 9.25 million to scale up manufacturing of biofabricated cellulose-based rheology modifier, EcoFLEXY. This funding, awarded by the LIFE programme, is intended to assist projects that promote the environment and climate action.
- In April 2025, Rönesans Holding, one of Europe’s leading contracting and investment groups, announced the investment of USD 2 billion in Türkiye’s largest private PP plant. The construction of a new Polypropylene (PP) Production Plant and Liquid Bulk Terminal in Ceyhan with a total investment of $2 billion, these strategic projects aim to increase Türkiye’s industrial self-sufficiency, reduce foreign dependency, and enhance the country’s position in global trade.
- In February 2025, Bain Capital announced its majority investment in the Milacron Injection Moulding and Extrusion business. Hillenbrand, Inc., is a significant investor in the company but is now a partner with Bain Capital as the duo aims to accelerate the growth of the highly engineered plastics processing equipment and services provider.
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