Report Ocean recently released a research report on the Commodity Plastics Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global commodity plastics market size is anticipated to reach $651.8 billion by 2026, growing at a CAGR of 7% during the forecast period, according to a report published by Report Ocean.
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The report ‘Commodity Plastics Market [By Product Type (PE, PP, PVC, PET, PS) By Application (Automotive, Consumer Goods, Electronics, Packaging, Pharmaceuticals, Textiles), By Regions & Segments Forecast, 2018 – 2026’ provides an extensive analysis of present market dynamics and predicted future trends.
The market is anticipated to significantly witness a considerable growth during the forecast period on account of rapidly rising demand for high performance end-use products such as lightweight packaging materials. In addition, the improving economic parameters and improvised standards of living in emerging counties are likely to be the crucial drivers which have flourished the market growth.
Demand for commodity plastics has also grown on account of increase in the metal prices. The global plastic industry has been forced to focus on innovation concerning biodegradability of plastics as many nations have banned the use of plastics that is non-biodegradable. Also, light-weight electric vehicles have increasingly gained significance which in turn has further strengthened the demand for the electric vehicles.
Commodity plastics indicate higher scope of applications across numerous end-use industries as these are supplied in bulk and have excellent chemical properties. In addition, these can be utilized for numerous applications such as packaging, garbage containers, photography, clothing, and magnetic tapes among many. These are also applied in industries such as consumer goods, automotive, manufacturing, packaging, electronics, construction, textiles, and pharmaceutical.
Based on product-type the market is bifurcated into Polystyrene (PS), Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Poly (methyl methacrylate) (PMMA), and others. Among them, PE is the most extensively used and product-type with highest demand. This is due to its chemical & physical properties such as their simple structure, insensitivity to a majority of solvents, and high electrical resistance. Also, these bulk plastics are readily available and at lower costs.
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On the basis of application, the market has been segmented into consumer goods, automotive, electronics, textiles, pharmaceuticals, packaging, and others. Among all the application segments, packaging sector holds highest market share and is anticipated to remain same during the forecast period. The most crucial reason behind such dominance is the rapidly growing demand for such bulk plastics by the manufacturing industry for the production of high-end packaging products and plastic goods.
The Asia Pacific is anticipated to be the largest and fastest-growing regional player for the market This is mainly due to the rapidly increasing living standards of the growing middle-class. The middle-class population in the developing countries of this region are increasingly seeking for even higher standards of living, and are likely to spend heavily on electronic appliances, packaged goods, clothing automobile, other goods that make use of commodity plastics in some or the other way.
Competitive Landscape and Key Vendors
The global commodity plastics market is characterized by presence of numerous multinational and domestic players. Th industry is fairly concentrated in nature. Some of the established market players in the industry include Exxon Mobil Corporation, The Dow Chemicals, BASF SE, SABIC, China Petroleum & Chemical Corporation (Sinopec), Mitsubishi Chemical Corporation, INEOS, LyondellBasell Industries N.V., Formosa Plastics Corporation, and LG Chem Ltd.
The established market players are actively involved in the increasing number of R&D activities in order to manufacture innovative plastic products. In addition, these players are also striving hard to enhance their existing product portfolio to stay equivalent to their level of competitors.
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Report Ocean has segmented the global commodity plastics market on the basis of product, application and region:
Commodity Plastics by Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Poly (methyl methacrylate) (PMMA)
Others
Commodity Plastics by Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Automotive
Consumer Goods
Electronics
Packaging
Pharmaceuticals
Textiles
Others
Commodity Plastics by Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
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Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
Table of Content
Chapter 1: Global Commodity Plastics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Commodity Plastics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Commodity Plastics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Commodity Plastics market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Commodity Plastics market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Commodity Plastics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Commodity Plastics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Commodity Plastics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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