China Plastics Market Size, Share, Analysis, Industry Report and Forecast 2020-2026

China's plastics market will see a considerable growth of 3.7% during the forecast period. China is the largest producer of automotive and electronics across the globe. As per the Observatory of Economic Complexity (OEC), in 2018, vehicle parts were ranked the sixth position, in the most traded products from China across the globe, with a total trade of $396 billion.

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In 2018, the top exporters of vehicle parts were Germany ($68.1 billion), Japan ($36.3 billion), China ($34.2 billion), Mexico ($30.1 billion), and the US ($ 27 billion). In China, vehicle manufacturing is a mix of production by joint ventures and domestic production, with 44.0% solely by domestic firms and 56.0% of vehicles produced by joint ventures. Therefore, the demand for plastics across the manufacturing of such a large sum of automotive drives the growth of the plastics industry in the country.

Moreover, China has a major contribution to the global electronics sector, as it is the country's most popular export category. China exports many electronic components across the globe, that are used in televisions and smartphones. All the major electronic components, including LED chips, printed circuit boards, memory, mobile displays, capacitors, and open-cell TV panels, are imported from China.

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Globally, the demand for consumer electronic products is one of the major aspects of the increasing exports from the country. Therefore, the significant manufacturing base of electrical and electronics is one of the major factors contributing to the adoption of plastics in the country.
Key questions addressed by the report
• What is the market growth rate during the forecast period?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected segment
o Recommendations
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

China Plastics Market – Segmentation

By Type

• Thermoplastics
o Polyethylene (PE)
o Polypropylene (PP)
o Polystyrene (PS)
o Polyvinylchloride (PVC)
o Polyethylene Terephthalate (PET)
o Others
• Thermosets
o Polyurethane (PUR)
o Epoxy Resins
o Phenolic Resins
o Acrylic Resins
o Others

By Application

• Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Household, Leisure & Sports
• Agriculture
• Others

Company Profiles

• Asahi Kasei Corp.
• CHIMEI Corp.
• Formosa Plastics Corp.
• Hanwha Group
• HEXPOL AB
• Jam Petrochemical Co.
• Kingfa Sci & Tec Co.
• LOTTE Chemical Corp.
• Showa Denko K.K.
• Sumitomo Chemical Co., Ltd.
• Toray Group

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This release was published on openPR.