The Global Commodity Plastics Market size is expected to reach USD 812.89 Billion in 2030 and register a CAGR of 6.1% over the forecast period, according to the latest report by Reports and Data. Key factors such as increasing demand for consumer goods and growing use of commodity plastics in medical devices are driving market revenue growth. Commodity plastics or commodity polymers is a type of plastic produced in high quantities for different applications which do not require any special material property.
These plastics are widely used in different end-use industries such as packaging, construction, consumer goods, automotive, electronics, textiles, medical pharmaceutical, and others. Packaging segment accounted for a majority revenue share in the global market in 2020. This can be attributed to the increasing demand for packaged food beverages along with a growing demand for flexible packaging.
North America accounted for a significant revenue share in 2020 and the trend is expected to continue over the forecast period. Major revenue contributors to revenue of the North American market are the U.S. and Canada. Factors such as growing focus on advanced packaging materials development research and increasing demand for renewable packaging materials are the key factors driving revenue growth of the market in this region.
Asia Pacific market accounted for a 32.8% revenue share in the global market in 2020 and is expected to register fastest CAGR over the forecast period. This can be attributed to rising industrialization and increasing demand for packaged foods.
Europe accounted for the second-largest revenue share in the global market in 2020. Growing demand for lightweight vehicles is one of the key factors driving revenue growth of the market in this region.
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Market Overview:
A rapidly increasing global population, a significant increase in consumer goods demand worldwide, increased development of advanced and environmentally friendly packaging materials, a focus on reducing carbon emissions, and the introduction of environmentally sustainable packaging solutions all play a key role in driving revenue growth in the global packaging industry. Retail e-commerce, food beverage, consumer electronics, pharmaceutical, and others are among the industries that are requiring environmentally sustainable packaging solutions. Increasing research development activities for advanced and environmentally sustainable packaging techniques, rapid growth of the manufacturing industry, increasing imports and exports of consumer goods around the world, and increases in government investment in the transportation and logistics industry are some of the major factors contributing to the growth of the global packaging industry. The development of cold chain logistics infrastructure and technological advances are also major factors driving growth in the global packaging market. It is projected that the Commodity Plastics market will reach USD XX billion in 2030, registering a strong revenue CAGR of XX%.
Some of the Leading Market Players Are Listed Below:
- ExxonMobil Corporation,
- LG Chem,
- Sumitomo Chemical Co. Ltd.,
- The Dow Chemical Company,
- Saudi Basic Industries Corporation (SABIC),
- BASF SE,
- LyondellBasell Industries Holdings B.V.,
- China Petrochemical Corporation,
- Formosa Plastics Corporation,
- Mitsubishi Chemical Holdings Corporation
- Others
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The Global Commodity Plastics Market Is Segmented Into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentation:
By Type Outlook
- PE
- PET
- PP
- PVC
- ABS
- PS
- PMMA
By End-Use Outlook
- Packaging
- Consumer Goods
- Automotive
- Electronics
- Textiles
- Medical Pharmaceutical
- Others
Some Points on How the Report Benefits Readers:
- Deep-dive analysis of the key drivers, opportunities, and restraints.
- Qualitative and quantitative analyses of the global Commodity Plastics market.
- Comprehensive analysis of the key regional markets and their respective revenue CAGRs.
- Precise evaluation of each regional market’s production consumption capacities.
- An overview of the highly competitive environment of the Commodity Plastics industry and company overviews.
- Focus on the key strategies implemented by the key market players, such as partnerships, collaborations, acquisitions, new product launches, and various other strategies.
Table of Contents (ToC) – Global Commodity Plastics Market
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2023-2030
Chapter 3. Key Insights
Chapter 4. Global Pharma Healthcare Market Segmentation
4.1. Global Pharma Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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