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Commodity Plastics Market 2023 - Global Business Growth, Competition Landscape, Size, Industry Drivers, Opportunities And Outlook By 2032
The Business Research Company's Commodity Plastics Global Market Report 2023 identifies growing production of plastic as the major driver for the Commodity Plastics market's growth in the forecast period. The packaging industry refers to being actively engaged in the design and manufacture of packaging products. Commodity plastic such as polyethylene and polystyrene are used in applications of packaging film and foam packaging in the packaging industry.
The global commodity plastics market size is expected to grow from $465.38 billion in 2022 to $498.49 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The commodity plastics market size is expected to grow to $637.15 billion in 2027 at a CAGR of 6.3%.
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Major competitors in the Commodity Plastics market are Exxon Mobil, LG Chem, Sumitomo Chemical Co. Ltd., The Dow Chemical, Saudi Basic Industries Corporation (SABIC), BASF SE, LyondellBasell Industries N.V.
A key trend in the Commodity Plastics market includes product advancement. Major market players are focusing on technological advancements to sustain their position in the commodity plastics market. For instance, in August 2021, Krehalon, a Netherlands based packaging company, launched the KreCycleTM to meet the demand for more sustainable packaging options, as well as a portfolio of conveniently recyclable high barrier flexible films for fresh food applications. The KreCycleTM product line includes polyester (PET), polyethylene (PE), and polypropylene (PP) based solutions with customized barrier qualities to meet the needs of specific applications. It is perfect for packaging fresh protein products such as red meat, poultry, processed meat, fish, and hard cheese.
Read More On The Global Commodity Plastics Market Report Here:
https://www.thebusinessresearchcompany.com/report/commodity-plastics-global-market-report
The Commodity Plastics market is segmented -
• By Type: Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET), Poly (Methyl Methacrylate) (PMMA)
• By Plastic Type: Reusable, Recyclable
• By End-User: Packaging, Construction, Consumer Goods, Automotive, Electronics, Textiles, Medical and Pharmaceutical, Other End Use Industry
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Commodity Plastics market.
The Business Research Company's "Global Commodity Plastics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Commodity Plastics Market Include:
1. Executive Summary
2. Commodity Plastics Market Characteristics
3. Commodity Plastics Market Trends And Strategies
4. Commodity Plastics Market - Macro Economic Scenario
5. Commodity Plastics Market Size And Growth
..........................
26. Africa Commodity Plastics Market
27. Commodity Plastics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Commodity Plastics Market
29. Commodity Plastics Market Future Outlook and Potential Analysis
30. Appendix
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