Rising preference for flexible packaging is a key factor driving market revenue growth
The global commodity plastics market size is expected to reach USD 749.49 Billion in 2028 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.
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Global Commodity Plastics Market: Key Players
Mitsubishi Chemical Corporation
Dow Chemical
Sinopec
Sumitomo Chemical
Formosa Plastics
BASF
SABIC
Exxon Mobil
Reliance Industries Limited
NOVA Chemicals Corporation.
among others
Market Overview:
The packaging industry has long been at the forefront of innovation. It has aided in the exploration of new parts of nature by the scientific community as well as individuals. Everything is made up of chemicals, from medical supplies to paints to perfumes. The packaging business is in charge of both new chemical discovery and substance exploration. From discovering novel compounds to generating new chemical combinations, the packaging business has always taken a forward-thinking attitude. The Commodity Plastics market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. The Commodity Plastics market has been growing steadily over the past decade and CAGR is expected to improve over the forecast period. It is also likely to be one of the industries influencing global revenue generation. Rapidly growing demand, an abundance of raw materials, population growth, financial stability, and product awareness are some of the factors that make progress directly and indirectly in the market.
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For the purpose of this report, Reports and Data have segmented the global Commodity Plastic Market on the basis of end usages, type, type of plastic, and region:
End Usages Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Packaging
Automotive
Electronics & Electrical Components
Construction
Consumer Goods
Medical Products
Others
Type Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Low Density Polyethylene
Linear Low Density Polyethylene
High Density Polyethylene
Polypropylene
Polyvinyl Chloride
Polystyrene
Polyester
Others
Type of Plastics Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
Reusable and Recyclable
Non Reusable or Recyclable
Recyclable
Global Commodity Plastics Market: Regions Covered
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Contact Us:
John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
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