404
+1-313-307-4176
sales@stratviewresearch.com
Commodity Plastics Market Report
Commodity Plastics Market Size, Share, Trend, Forecast, & Industry Analysis
The Commodity Plastics Market is Segmented by Material Type (Polyethylene, Polyvinyl Chloride, Polypropylene, Polystyrene, Poly (Methyl Methacrylate) , and Others), by Application Type (Packaging, Construction, Consumer Goods, Automotive, Electronics, Textile, Medical & Pharmaceutical, and Others), and by Region ...
Commodity Plastics Market is likely to witness an impressive CAGR of 6.6% during the forecast period. Increasing application of plastics in the packaging and consumer goods industries coupled with increasing concerns over the development of lightweight electric vehicles in the automotive industry are the key driving factors for the commodity plastics market. Moreover, rising demand for flexible packaging in the packaging industry, owing to its low cost, durability, and availability is another key factor fueling the growth of the market.
|
Commodity Plastics Market - Snapshot |
|
|---|---|
|
Growth |
6.6% for the next five years |
|
Major Material Type |
Polyethylene |
|
Dominant Application Type |
Packaging |
|
Region with the highest demand |
Asia-Pacific |
|
Key Players |
BASF SE, Exxon Mobil Corporation, Formosa Plastics Corporation, LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, SABIC, China Petroleum & Chemical Corporation (Sinopec Group), Sumitomo Chemical Co., Ltd., and The DOW Chemical Company |
Wish to Get a Free Sample? Register here
Based on the material type, the commodity plastics market is segmented as Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polymethyl methacrylate (PMMA), and others. The PE segment captured the largest share of the market in 2019, and is expected to remain dominant during the forecast period, propelled by easy availability and lower manufacturing cost along with favorable properties such as toughness, chemical resistance, and transparency. Also, high demand from packaging applications such as plastic films, plastic bags, plastic containers, tubing, bottles, wire insulation, household & kitchenware, and chemical containers is acting as a catalyst for the segment’s market.
Based on the application type, the market is segmented as packaging, construction, consumer goods, automotive, electronics, textile, medical & pharmaceutical, and others. The packaging segment is expected to remain the largest as well as the fastest-growing segment of the market over the forecast period. This growth can be attributed to the increased demand for packaged food & beverages, as well as the rising demand for flexible packaging. Each segment has been further sub-segmented by application type for in-depth understanding.
In terms of regions, Asia-Pacific is estimated to be the largest market during the forecast period, with China, Japan, and India being the major countries with lucrative growth opportunities. This growth can be attributed to the increasing investments in the construction industry coupled with rapid economic development in the region. Rising population and increasing demand for packaged foods in the consumer goods industry are the other key drivers of the region's commodity plastics market. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.
Know which region offers best growth opportunities. Register here
Today, plastics can be found in almost every application that catches your eye, ranging from shopping bags, trash containers, disposables, packaging films, to clothing, printed materials, toys, household products, etc. Most of these plastic products are made from six types of plastic materials which are polyethylene (PE), polypropylene (PP), polyvinylchloride (PVC), polystyrene (PS), polyester, and polyurethane (PU). These commodity plastics are lighter, resistant to abrasion, structurally stable, easily recyclable, and highly malleable. They are often used in large volumes for regular household applications and offer higher strength compared to other substitutes. Since commodity plastics are not used in critical service environments, they are relatively inexpensive and exhibit lower mechanical properties than engineered plastics.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
|
Commodity Plastics Market Research Report - Features |
|
|---|---|
|
Market Segmentation |
3 |
|
Regions Covered |
4 |
|
Countries/Sub-Regions Covered |
17 |
|
No. of Figures & Tables |
>150 |
|
Company Profiles |
10 |
The commodity plastics market is segmented into the following categories.
Want to know the most attractive market segments? Register here
Some of the major players in the commodity plastics market are-
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com
Driven by the factors like Increasing application of plastics in the packaging and consumer goods industries, the commodity plastics market is expected to grow at a CAGR of 6.6% in the foreseeable future.
The packaging application segment is expected to remain the fastest growing segment in the commodity plastics market during the next five years.
BASF SE, Exxon Mobil Corporation, Formosa Plastics Corporation, LG Chem Ltd., LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, SABIC, China Petroleum & Chemical Corporation (Sinopec Group), Sumitomo Chemical Co., Ltd., and The DOW Chemical Company are among the key players in the commodity plastics market.
Asia-Pacific is expected to remain the largest market for commodity plastics during the next five years.
The PE segment is expected to remain dominant in the commodity plastics market in the coming years.
Increasing application of plastics in the packaging and consumer goods industries coupled with increasing concerns over the development of lightweight electric vehicles in the automotive industry are the factors driving the growth of commodity plastics market.
Why are We Class Apart?
Advanced Materials Offer Next Growth Wave
We Specialize in Composites & other Materials Market Research
>60% of the First Buyers Come Back to Us
>95% Client Satisfaction Ratio, the Industry's Highest
Clients Across the Value Chain
Track the Latest Trends in Advanced Materials
Know High Growth Opportunities
WE ACCEPT
