Commodity Plastics - Global Market Outlook (2020-2028)

Commodity Plastics - Global Market Outlook (2020-2028)

According to Stratistics MRC, the Global Commodity Plastics Market is accounted for $468.30 billion in 2020 and is expected to reach $866.79 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Growing packaging industry, growing production of lightweight electric vehicles and increasing metal prices are driving the market growth. However, an increased environmental concern over plastic waste is hampering the growth of the market.

The commodity plastics refer to plastics used in large volume for regular household applications and have higher mechanical strength as compared to other substitutes therefore these plastics are not used in critical service environments. These plastics are highly suitable for packaging applications as they can be easily recycled and molded into a variety of shapes. Commodity plastics are produced in high volumes for various applications where special material properties are not needed. Commodity plastics are immune to abrasion, lighter in weight, and structurally.

Based on the end user, the packaging segment is going to have lucrative growth during the forecast as packaging is an indispensable process for preserving and transporting goods. The aim of any packaging system is to prevent or delay undesirable changes in appearance, flavor, odor, and texture. Active and intelligent packaging is a new technical tool which better controls the food from contamination and maintains its quality. Changing consumer lifestyle with rising disposable income has resulted in an increase in the importance of plastics as packaging products.

By geography, Asia Pacific is going to have high growth during the forecast period due to the growing demand for commodity plastic from the packaging and medical & pharmaceutical sector, especially in Asian countries like China, India, and Japan, is expected to drive the market growth in the region. Moreover, economic and healthcare development in the Asia Pacific countries associated with rising investments in the construction industry are major factors that are expected to drive the demand for commodity plastic in the region over the forecast period.

Some of the key players profiled in the Commodity Plastics Market include BASF SE, Dow Inc., SABIC, DuPont de Nemours, Inc., Mitsubishi Chemicals Holdings Corporation, Eastman Chemical Company, LG Chemicals, Chevron Phillips Chemical Co., LLC, Arkema SA, Exxon Mobil Corporation, Nippon Polyurethane Industry Corp Ltd., Huntsman Corporation, Mitsui Chemicals Inc., Qatar Petroleum and Exxon Mobil.

Types Covered:
• Polyethylene Terephthalate (PET)
• Polyester
• Acrylonitrile Butadiene Styrene (ABS)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Polystyrene (PS)

Type of Plastics Covered:
• Recyclable
• Non Reusable or Recyclable
• Reusable and Recyclable

End Users Covered:
• Furniture & Décor
• Textiles (Fibers and Fabrics)
• Packaging
• Electrical & Electronics
• Medical & Pharmaceutical
• Automotive & Transportation
• Building & Construction
• Consumer Durable Goods
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances