Commodity Plastics Market is projected to reach $596.1 Billion by 2025, at a CAGR of 6.0%
According to the new market research report “Commodity Plastics Market by Type (PE, PP, PVC, PS, ABS, PET, PMMA), End-use Industry (Packaging, Construction, Consumer Goods, Automotive, Electronics, Textiles, Medical & Pharmaceutical), and Region – Global Forecast to 2025″, published by MarketsandMarkets™, the Commodity Plastics Market size is projected to grow from USD 468.3 billion in 2020 to USD 596.1 billion by 2025, at a CAGR of 6.0% between 2020 and 2025.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74592493
Packaging plays a vital role in keeping the product fresh, damage-proof, and acts as an efficient marketing tool. The most common commodity plastics are polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), and poly (methyl methacrylate) (PMMA). Acrylonitrile butadiene styrene (ABS) and polyethylene terephthalate (PET) are also considered commodity plastics. These plastics are increasingly replacing metals due to their high tensile strength, low cost, high availability, and easy processing properties.
In terms of value, the PE segment is projected to account for the largest share of the commodity plastics, by type, during the forecast period.
According to the current scenario of the plastic industry, PE is the largest type of commodity plastics produced and consumed globally due to its easy availability and lower processing cost. PE is capable of being extruded and molded into different shapes. It is highly transparent and colorless and has applications in containers, household & kitchenware, and tubing. PE has many applications in the packaging industry, especially in the flexible packaging of food products.
The packaging industry is projected to register the highest CAGR during the forecast period.
The packaging is a necessary process for preserving and transporting goods. It caters to various sectors such as retail, institutional, and industrial. The increased demand for flexible packaging and value-added packaging is expected to drive the commodity plastics market in the packaging industry. The market in the packaging industry is expected to witness the highest CAGR.
Browse and in-depth TOC on “Commodity Plastics Market”
76 – Tables
49 – Figures
164 – Pages
Don’t miss out on business opportunities in Commodity Plastics Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=74592493
The APAC region leads the commodity plastics market in terms of volume.
APAC is projected to be the fastest-growing market for commodity plastics during the forecast period. Factors such as large population, growing demand for convenience food products, availability of cheap raw materials for packaging, and rising health awareness are driving the market in the region. China is the largest commodity plastics market in APAC and is expected to remain the same during the forecast period. The growing usage of commodity plastics in packaging, construction, and consumer goods is driving the market..
Major players operating in the global commodity plastics market include Exxon Mobil (US), LG Chem (South Korea), Sumitomo Chemical (Japan), The Dow Chemical Company (US), SABIC (Saudi Arabia), BASF SE (Germany), LyondellBasell (Netherlands), Sinopec (China), Ineos (Switzerland), Formosa Plastics (Taiwan), Mitsubishi Chemical (Japan), Borealis AG (Austria), Chevron Phillips Chemical (US), ENI SpA (Italy), Reliance Industries (India), Braskem (Brazil), Hanwha Chemical (South Korea), Lotte Chemical (South Korea), Indian Oil (India), Haldia Petrochemicals (India), Nova Chemicals (Canada), Qenos Pty (Australia), Qatar Petroleum (Qatar), Westlake Chemical (US), and PTT Global Chemical (Thailand).
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=74592493
- Engineering Plastics Market
- Plastic Additives Market
- Antimicrobial Plastics Market
- Transparent Plastics Market
- Top 10 Plastics Market
Get Special Pricing on Bundle Reports: https://www.marketsandmarkets.com/RequestBundleReport.asp?id=74592493
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/commodity-plastic.asp
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/commodity-plastic-market.asp