The global demand for Commodity Plastics Market is presumed to reach the market size of nearly USD 1000.5 MN by 2028 from USD 610.97 MN in 2021 with a CAGR of 7.3% under the study period 2022 - 2028.
Commodity plastics are polymers that are used in large quantities for everyday household applications. These polymers are used in various applications, including clothes, trash cans, disposables, packaging film, magnetic tape, photographic tape, apparel, beverages, and waste bins. Because commodity plastics are not employed in essential service situations, significant mechanical strength is not required. As a result, these plastics are less expensive and have lesser mechanical qualities than designed plastics. Polyethylene (PE), polyvinyl chloride (PVC), and polypropylene(PP) are examples of commodity plastics. These polymers are commonly used to produce cups, plates, trays, printed materials, toys, and other home items. Commodity plastics are lighter, more abrasion resistant, and structurally stable. They are easily recyclable and can be formed into various shapes. They also have a higher strength than other replacements.
Market Dynamics
The expanding use of plastics in the packaging industry and other end-use industries with multiple applications, such as packaging, photographic, electronics, and pharmaceuticals, and an increase in demand for consumer goods, are the major factors driving the global commodity plastics market's growth. Furthermore, increased manufacturing of lightweight electric vehicles and materials in the automotive industry, rising metal prices, and growing consumer disposable income are likely to drive the growth of the commodity plastics market. However, increasing environmental worries about plastic waste and government rules restricting the use of plastics for packaging are likely to impede the expansion of the commodity plastics sector.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of commodity plastics. The growth and trends of commodity plastics industry provide a holistic approach to this study.
Market Segmentation
This section of the commodity plastics market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Acrylonitrile Butadiene Styrene (ABS)
- Polyethylene Terephthalate (PET)
- Poly (Methyl Methacrylate) (PMMA)
By End-Use Industry
- Packaging
- Automotive
- Electronics
- Consumer Goods
- Construction
- Textiles
- Medical & Pharmaceutical
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Commodity Plastics market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Commodity Plastics Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the commodity plastics market include Exxon Mobil, LG Chem, Sumitomo Chemical, The Dow Chemical Company, Sabic, BASF SE, Lyondellbasell, Sinopec, Ineos, and Formosa Plastics. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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