The global 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. Growing packaging industry, increased disposable income generating high demand for consumer goods, growing production of lightweight electric vehicles and increasing metal prices are driving the market for commodity plastics. However, increased environmental concerns over plastic waste is expected to restrain this market. Developing countries is expected to offer significant growth opportunities to manufacturers of commodity plastics. The major challenge faced by players is government regulation on the use of plastics for packaging.
The PET segment is expected to grow at the highest CAGR during the forecast period in the commodity plastics market. PET is a plastic resin and the most commonly used plastic material.A large number of consumer products, beverages, and food items are packaged and delivered and with this material.
PET is manufactured from polyester and has good water and moisture resistance, due to which, it is used in the manufacturing of soft drinks bottles.It has a wide range of textile applications.
PET plastic is approved as safe for food and beverage contact by the FDA and similar regulatory agencies throughout the world.
The packaging segment is expected to account for the largest share in the commodity plastics market
Packaging is an indispensable process for preserving and transporting goods. It caters to various sectors
such as retail, institutional, and industrial. Changing consumer lifestyle with increasing disposable income has resulted in an increase in the importance of plastics as packaging products.
APAC is expected to be the largest commodity plastics market during the forecast period, in terms of volume. China, India, and Japan are the major countries contributing to the commodity plastics market in APAC.The growth is driven by factors such as increase in demand for convenience by consumers and concerns about product safety are some of the major reasons that could drive the commodity plastics market in the region.
The presence of many small and medium commodity plastics manufacturers has also contributed to the growth of the commodity plastics market in this region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the fresh food packaging market, and information was gathered from secondary research to determine and verify the market size of several segments. • By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30% • By Designation: C Level Executives– 20%, Directors – 10%, and Others – 70% • By Region: APAC – 30%, Europe – 30%, North America – 20%, the Middle East & Africa – 10%, and South America- 10%
The key companies profiled in the commodity plastics market report 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).
Research Coverage: This report provides detailed segmentation of the commodity plastics market based on type, end-use industry, and region.The type segment is divided into PE, PP, PVC, PS, ABS, PET, and PMMA.
Based on the end-use industry, the commodity plastics market has been segmented into packaging, construction, consumer goods, automotive, electronics, textiles, medical & pharmaceutical, and others. Based on the region, the market has been segmented into North America, Europe, APAC, the Middle East & Africa, and South America.
Key Benefits of Buying the Report From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the commodity plastics market; high growth regions; and market drivers, restraints, opportunities, and challenges.
Our reports have been used by over 10K customers, including:
The market for Plastics Injection Molding is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are accelerating usage in consumer goods & electronics and growing demand in packaging industry. On the flipside, stringent environmental regulations on use of plastics and unfavourable conditions...
The Global Plastic Additives Market was estimated at USD 24,814.43 million in 2020 and the market is projected to register a CAGR of over 4.5% during the forecast period (2021-2026). The market was negatively impacted due to COVID-19 outbreak in 2020. COVID-19 exposed several challenges for various industries. The world apparently moved...
The market for bio-polylactic acid is expected to register a CAGR of around 20% during the forecast period. Major factors driving the market studied are favorable government policies promoting bio-plastics and the growing demand for cellulose-derived fibers in the textile industry. Price competitiveness and availability of cheaper alternatives...
The masterbatch market size is estimated to be USD 11.1 billion in 2020 and is projected to reach USD 14.3 billion by 2025, at a CAGR of 5.1% between 2020 and 2025. Factors such as widely preferred coloring method adopted by manufacturers over powders, pastes, and fluid additives will drive the masterbatch market. The major restraint for the...
The global 3D printing high performance plastic market size is projected to grow from USD 72 million in 2020 to USD 202 million by 2025, at a compound annual growth rate (CAGR) of 22.9% between 2020 and 2025. 3D printing high performance plastic are a group of polymers that have heat distortion temperature greater than 150 degrees Celsius....
The plastic antioxidants market size is estimated to be USD 2.0 billion in 2020 and is projected to reach USD 2.6 billion by 2025, at a CAGR of 5.3% between 2020 and 2025. Factors such as plastics replacing conventional materials, increasing demand in medical industry, and rapid urbanization in developing countries will drive the plastic antioxidants...
The Plastic adhesives market is projected to grow from USD 6.8 billion in 2020 to USD 9.2 billion by 2025, at a CAGR of 6.3% between 2020 and 2025. APAC is the largest plastic adhesives market and is also projected to register the highest CAGR. This high growth is due to the growing demand from the packaging, building & construction, and automotive...
The global impact modifiers market size is estimated at USD 3.9 billion in 2020 and is projected to reach USD 5.0 billion by 2025, at a CAGR of 5.3% from 2020 to 2025. Rise in the demand for plastics, increase in replacement of conventional plastics with engineering plastics, and increase in urbanization and construction activities are driving...
The antimicrobial plastics market size is estimated to grow from USD 36.9 billion in 2020 to USD 59.8 billion by 2025, at a CAGR of 10.1%. Consumer awareness about health-related issues is growing due to the increasing number of cases of nosocomial infections and epidemic outbreaks of life-threatening diseases such as H5N1 Avian influenza,...
The plastic additives market is expected to witness a healthy growth, at an estimated CAGR of around 5% over the forecast period. One of the major factors driving the growth of the market studied is the replacement of conventional materials by plastics in several applications. - On the flip side, stringent regulations over plastic usage...
Gross Domestic Product
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.