The global commodity plastics market size is anticipated to reach USD 554.4 billion by 2027, according to a report by Grand View Research, Inc., registering a CAGR of 3.2% over the forecast period. Increasing product demand from the packaging, building & construction, medical & pharmaceutical, and a few other application industries is expected to propel market growth. Moreover, the rising demand for consumer durable goods owing to growing disposable incomes coupled with the increasing need for lightweight materials in the automotive industry is anticipated to drive the demand for commodity plastics over the forecast period.
Polyethylene (PE) segment led the market in 2019 and is expected to maintain its leading position during the forecast period owing to rising demand from the packaging and automotive & transportation industries. Polyethylene is widely used in various applications, such as plastic films, plastic bags, wire insulations, plastic containers, household & kitchenware, tubing, bottles, and chemical containers, owing to their properties, which include lower manufacturing cost, easy availability, and excellent stiffness and toughness. Asia Pacific is the largest regional market for commodity plastics owing to the high demand from the end-use industries.
Asia Pacific is the largest producer and consumer of automobiles, consumer goods, and packaging materials, thereby paving a way for the commodity plastic market in the region. The region is also one of the largest consumers and producers of electrical & electronic products, such as equipment and wires, which is expected to boost the demand for commodity plastics in the region over the forecast period. However, the decline in consumer spending on discretionary products and the stall in manufacturing activities due to the COVID-19 pandemic in the region are expected to negatively impact the demand in the above-mentioned industries.
Get Full Informational Sample Copy @ https://www.grandviewresearch.com/industry-analysis/commodity-plastics-market/request/rs1
Commodity Plastics Market Report Highlights
- The global market was valued at USD 434.6 billion in 2019 and is estimated to register a CAGR of 3.2% from 2020 to 2027
- The global market is expected to witness significant growth over the forecast period owing to rising product demand from the packaging, electrical & electronics, and medical & pharmaceutical end-use industries
- The market in the U.S. is anticipated to witness significant growth by 2027 owing to the growing product demand
- Asia Pacific is projected to witness the fastest growth over the estimated period owing to rising infrastructural & economic investment, and growing product demand from the countries, such as India, China, and Japan
- Rapidly growing e-commerce sector and innovation and development in the packaging industry in APAC is also fueling the product demand
Ask To Our Experts @ https://www.grandviewresearch.com/inquiry/450660/ibb
Commodity Plastics Market Segmentation
Grand View Research has segmented the global commodity plastics market on the basis of product, end-use, and region:
Commodity Plastics Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Polystyrene (PS)
- Poly Methyl Methacrylate (PMMA)
Commodity Plastics End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Packaging
- Building & Construction
- Electrical & Electronics
- Automotive & Transportation
- Medical & Pharmaceutical
- Textile
- Consumer Durable Goods
- Others
Key Topic Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
2.1. Market summary
2.2. Segmental Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.1.1. Global Plastic Market
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.7. Business Environment Analysis: Commodity plastics Market
3.7.1. Industry Analysis – Porter’s
3.7.1.1. Supplier Power
3.7.1.2. Buyer Power
3.7.1.3. Substitution Threat
3.7.1.4. Threat from New Entrant
3.7.1.5. Competitive Rivalry
3.7.2. PESTEL Analysis
3.7.2.1. Political Landscape
3.7.2.2. Environmental Landscape
3.7.2.3. Social Landscape
3.7.2.4. Technology Landscape
3.7.2.5. Economic Landscape
3.7.2.6. Legal Landscape
Continue…
Read Related Reports
Plastic Compounding Market Size, Share & Trends Analysis Report By Product (PP, PET, TPV, TPO, PVC, PBT, ABS), By Application (Automotive, Electrical & Electronics, Construction), By Region, And Segment Forecasts, 2020 – 2027
https://www.grandviewresearch.com/industry-analysis/plastic-compounding-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/commodity-plastics-market