Commodity Plastics Market - Increase in Demand in the Food and Beverage Packaging Drives Demand

Industry Analysis:

According to Market Prognosis, the Global Commodity Plastics Market is accounted for $342.65 billion in 2017 and is expected to reach $686.56 billion by 2026 growing at a CAGR of 8.0% during the forecast period. Rising usage of commodity plastics more than glass materials for food and beverage packaging, increasing demand from the main industries in emerging nations and growing demand for consumer goods are some of the key driving factors for the market growth. However, strict rules and regulations on the utilization of plastics in packaging and growing environmental concern over plastic waste are hindering the growth of the market. Recent polymerization system meant for manufacturing environment-friendly commodity plastics and lightweighting are some of the trends for the market.

Commodity plastics specify to a class of materials to facilitate as raw materials in various industries, such as packaging, textile, consumer goods, and electronics amongst others. These plastics are able to be molded or shaped into a variety of solid objects such as food containers and bottles. The property of plasticity of commodity plastics, in blend with properties such as low electrical conductivity, low density, toughness, and transparency, grant commodity plastics towards application within a broad collection of products.

Based on product type, Polyethylene (PE) is driven by the rising demand for PE stems from the plastic industry and growing latest developments and improvements during the type of PE manufactured, backed via new techniques in manufacturing. Moreover, the broad usage of Ultra-high-molecular-weight polyethylene (UHMWPE) in industrial applications such as wear strips conveyor lines, valves, gears and food processing equipment.

By geography, Asia Pacific is anticipated to dominate the largest market share during the forecast period due to the growing demand for commodity plastics from developing nations such as China and India and the growing applicability of commodity plastics in packaging application is proposed to drive the growth of the market in this region.

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Some of the key players in Commodity Plastics Market include Borealis AG, Chevron Phillips Chemical, Exxon Mobil Corporation, Haldia Petrochemicals Ltd., BASF SE, Indian Oil Corporation Limited, LG Chem Ltd., LyondellBasell Industries N.V., The Dow Chemical Company, Lotte Chemical, Hanwha Chemical Co, Ltd, Qenos Pty Limited, SABIC, Eni S.p.A., Formosa Plastics Corporation, Mitsubishi Chemical Corporation, Braskem, NOVA Chemicals Corporation and Reliance Industries Limited.

What our report offers:

- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Market Segments:
Product Types Covered:
• Polystyrene (PS)
• Poly(Methyl Methacrylate) (PMMA)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Other Product Types
Applications Covered:
• Fiber and Raffia
• Blow Molding
• Film and Sheet
• Injection Molding
• Other Applications
End-Use Industries Covered:
• Automotive
• Consumer Goods
• Medical & Pharmaceutical
• Textile
• Electronics
• Packaging
• Construction
• Other End-Use Industries
Regions Covered:
North America
• US
• Canada
• Mexico
Europe
• Germany
• U.K
• Italy
• France

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This release was published on openPR.