North American Thermoplastics Market Size, Competitive Analysis, Share, Forecast- 2020-2026

The North American thermoplastics market is projected to exhibit a considerable CAGR during the forecast period. The key factors that are contributing towards the growth of the thermoplastics market in the region, include rising demand for efficiently moldable packaging across the food & beverages, cosmetic and personal care industry in the region, cohesive government regulations, and increased per capita consumption in the US. The resin, synthetic rubber, and artificial & synthetic fibers & filament (NAICS 3252), which includes the plastic materials and resins industry in the US, was the 18th ranked manufacturing industry in 2018. In addition, the demand for plastics from the continuously growing end-use markets will boost the growth of the thermoplastics industry in the US.
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The North American thermoplastics market is segmented based on type and application. Based on type, the market is broadly categorized into polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinylchloride (PVC), polyethylene terephthalate (PET), and others. Based on application, the market is segmented into packaging; building & construction; automotive; electrical & electronics; household, leisure & sports; agriculture; and others. The packaging is the major application of thermoplastics and is estimated to contribute a significant share to the market.
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Geographically, the North American thermoplastics market is segmented into the US and Canada. The US accounted for a major share in the market in 2019 due to the high consumption rate of thermoplastics across the end-use market in the US. The high usage of thermoplastics in the packaging of personal care and cosmetics, pharmaceutical, food & beverages, among other industries, is driving the thermoplastics market in the US. Further, the continuous rise in end-use markets of thermoplastics will offer growth to the thermoplastics industry in Canada.
Furthermore, some of the key players in the market include Exxon Mobil Corp., Saudi Basic Industries Corp. (SABIC), The Dow Chemical Co., Celanese Corp., Formosa Plastics Corp., BASF SE, Chevron Corp., and others. These companies are using several strategies to expand market share and gain a competitive advantage over their competitors. The strategies include new product launches, mergers and acquisitions, partnerships, and collaborations. For instance, in October 2020, Chevron Phillips Chemical declared success in its first commercial-scale production of polyethylene using advanced recycling technology. The successful demonstration paves the new way for the new product range, Marlex Anew Circular Polyethylene.
Market Segmentation
North American Thermoplastics Market by Type
• Polyethylene (PE)
• Polypropylene (PP)
• Polystyrene (PS)
• Polyvinylchloride (PVC)
• Polyethylene Terephthalate (PET)
• Others
North American Thermoplastics Market by Application
• Packaging
• Building & Construction
• Automotive
• Electrical & Electronics
• Household, Leisure & Sports
• Agriculture
• Others
Regional Analysis
• United States
• Canada
Company Profiles
Arkema Group
• Overview
• Arkema Group in North America
• Arkema group in Thermoplastics Landscape
• Recent Developments
• Airex Industries Inc.
• Asahi Kasei Corp.
• BASF SE
• BioLogiQ Inc.
• Celanese Corp.
• Chevron Corp.
• Cope Plastics Inc.
• DuPont de Nemours, Inc.
• Eastman Chemical Co.
• Exxon Mobil Corp.
• Hexcel Corp.
• MBA Polymers, Inc.
• Momentive Performance Materials Inc.
• NOVA Chemicals Corp.
• Petoskey Plastics, Inc.
• PolyOne Corp.
• Rogers Corp.
• Saudi Basic Industries Corp. (SABIC)
• Sekisui Kydex, LLC
• The Dow Chemical Co.
• The Plastics Group of America (TPG)
• VIP Rubber Co., Inc.
• Wellman Advanced Materials, LLC
• Westlake Chemical Corp.
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Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.

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