Global Plastic Market: Industry Analysis and Forecast (2020-2026)

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Global Plastic Market size was valued at US$ 450.88 Bn in 2019 and the total revenue is expected to grow at 4.2% through 2020 to 2026, reaching nearly US$ XX Bn.

The global Plastic market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Plastic report also provides trends by market segments, technology, and investment with a competitive landscape.

Global Plastic Market Overview:

Plastics are polymers derived from petrochemicals and renewable sources like cotton fibers and corn. Because of its versatility, moldability, lightweight, low cost, and waterproof nature product is used in various applications. Growing plastic demand from various end-use industries including automotive, construction, and electrical, and electronics is driving the market growth.
Global Plastic Market Dynamics:

Increasing plastic demand in many end-use industries like electrical & electronics, food & beverage, automotive, and consumer goods. Rising demand for packaged foods is turn increased in product consumption. Manufacturers prefer actual packaging to reduce the possibility of food pollution and quality degradation. These all factors act as a major driver for the plastic market growth. Additionally, the uses of polymers in sports, fashion, and toy-making are increasing thanks to durability and capacity to battle physical pressures this factor is expected to drive the market growth during the forecast period 2020-2026.

Rapid urbanization with rising population and industrialization in developing countries like India and China and increasing their construction & infrastructure activities increase the demand for the product, this, in turn, propels the plastic market demand.

Strict government rules and other policies over the product usage because of damage caused by polymers on the environment. To decrease environmental pollution caused by product use, many end-use industries adopting greener and non-polymer alternatives. This factor majorly hampers the market growth.
Global Plastic Market Segment Analysis:

By Product Type, the Plastic market is segmented into PE, PP, PU, PVC, PET, Polystyrene, ABS, PBT, PPO, Epoxy Polymers, LCP, PC, and Polyamide. The PE segment is accounted for the largest market share of around 23.3% in 2019 and is expected to grow at a rapid pace during the forecast period. PE is majorly used in the packaging sector, including containers and bottles, plastic bags, plastic films, and geomembranes. According to its molecular weight, there are various types of polymers of PE like HDPE, LDPE, and LLDPE. For example, low molecular weight polymers of PE are widely used in lubricants, medium molecular weight polymers used as wax miscible with paraffin, and high molecular weight polymers are used in the plastic industry.

Growing demand for packaged food, trays, bottles for milk and fruit juices, caps for food packaging, drums, and other liquid food packaging because of limitations on the movement of people to overcome the spread of coronavirus all over the globe is estimated to fuel the PE demand during the forecast period 2020-2026.

Global Plastic Market

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By Application, the market is segmented into Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, and Electrical & Electronics.

Global Plastic Market
Global Plastic Market Regional Insights:

Asia Pacific Dominate the Global Plastic Market

The Asia Pacific accounted for the largest market share of more than 42.2% in terms of revenue in 2019. Growing end-use industries are expected to drive for plastic in the automotive, construction, packaging, and electrical and electronics industries. For instance, India and China observed a spike in automotive manufacturing thanks to technology transfer to the sector from the Western markets.

Additionally, a well-recognized production base for electrical and electronics in Taiwan, China, and South Korea is expected to drive the market in the region. India has a strong chemical end-use industry base, which supports its plastic manufacturing process. Rapid urbanization, improving economic conditions, and growing infrastructural activities are some of the factors that strengthen the plastic market growth in Asia Pacific.

Global Plastic Market Regional Insights

The objective of the report is to present a comprehensive analysis of the Global Plastic market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Plastic market dynamics, structure by analyzing the market segments and project the Global Plastic market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Plastic market make the report investor’s guide.
Global Plastic Market Scope: Inquire before buying

Global Plastic Market
Global Plastic Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Plastic Market Key Players

• BASF SE
• SABIC
• Dow Inc.
• DuPont de Nemours, Inc.
• Evonik Industries
• Sumitomo Chemical Co., Ltd.
• Arkema
• Celanese Corporation
• Eastman Chemical Company
• Chevron Phillips Chemical Co., LLC
• Lotte Chemical Corporation
• Exxon Mobil Corporation
• Formosa Plastic Corporation
• Covestro AG
• Toray Industries, Inc.
• Mitsui & Co. Plastic Ltd.
• Others

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