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Plastics Market Affects due to Coronavirus Pandemic | Know The Short and Long-Term Actions Taken by Key Players Borouge, LyondellBasell, Braskem, SABIC, Covestro, Dow, BASF, Reliance Industries Limited, INEOS, ExxonMobil, etc

Plastics Market

Plastics Market

Fortune Business Insights(TM) recently published a research report titled, "Plastics Market, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, and Others), By End-Use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2019-2026".

Global Plastics Market Recent Growth Factors, Trends, Size, Share and Forecast to 2026The report further mentions that the Plastics Market size is projected to reach USD 647.48 billion by 2026, thereby exhibiting a CAGR of 4.9% during the forecast period. However, it stood at USD 441.55 billion in 2018.

Highlights of the Report

o Country-wise analysis of significant geographical regions.
o Extensive analysis of polymers market expansion and market-entry strategies.
o Competitive landscape, such as new product launches, agreements, contracts, investments, strategic collaborations, and mergers and acquisitions.
o In-depth information about the Plastics Market trends, opportunities, challenges, growth drivers, and barriers.

Get Sample PDF Brochure with "Short-Term and Long-Term Impact of COVID-19" on Market, Please Visit: https://www.fortunebusinessinsights.com/enquiry/covid19-impact/plastics-market-102176

Increasing Demand from Food & Beverage Industry to Accelerate Growth

In several industries, namely, consumer goods, automotive, food & beverage, and electrical & electronics, the demand for plastics is increasing at a rapid rate. Above all, in the food & beverage industry, plastics are used at a large scale because of the increasing demand for packaging materials. As per one of our lead analysts, "Plastics are capable of acting as the stumbling blocks between the external environment and the food items. Therefore, the existing manufacturers are inclining more towards enhanced plastic packaging to reduce quality degradation and possibility of food contamination." These factors are set to drive the Plastics Market growth during the forthcoming years.

Fortune Business Insights(TM) lists out some of the most renowned companies present in the Plastics Market. They are as follows:

o Borouge
o LyondellBasell
o Braskem
o SABIC
o Covestro AG
o Dow
o BASF SE
o Reliance Industries Limited
o INEOS
o ExxonMobil Chemical
o China Petroleum Corporation
o Inoac Corporation
o Total S.A.
o DuPont
o Formosa Plastics Group
o Other key players

Get a detailed summary of Plastics Market insights: https://www.fortunebusinessinsights.com/plastics-market-102176

Availability of Cost-effective Raw Materials to Favor Growth in Asia Pacific

In terms of region, the polymers market is grouped into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. Amongst these, North America acquired USD 72.90 billion Plastics Market revenue in 2018 and is likely to showcase significant growth throughout the forecast period. This growth is attributable to the increasing demand for plastics in the U.S. from industries, namely, healthcare & pharmaceuticals, automotive, packaging, and more. Europe is expected to experience considerable growth in the near future on account of the high demand for plastics from the infrastructure & construction industry.

Asia Pacific, on the other hand, is likely to be the fastest-growing region owing to the large consumption of plastics by India and China. China would lead because of the availability of raw materials at lower rates in this country. It is, in turn, minimizing the hindrances involved in the plastic production process. Apart from that, the demand for plastics from the consumer goods industry is skyrocketing because of their increasing usage in the production of textiles, toys, and sports goods.

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Fortune Business Insights(TM) offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights(TM), we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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