Commodity Plastics Market to witness market growth at a rate of 6.15%, by Application (Packaging, Automotive, Electronics, Consumer Goods, Construction, Textile, Medical & Pharmaceutical and Others)

The commodity plastics market is expected to witness market growth at a rate of 6.15% in the forecast period of 2022 to 2029. Data Bridge Market Research report on commodity plastics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the production of lightweight electric vehicles is escalating the growth of commodity plastics market.

Commodity plastics is referred to the plastics that are utilized in large volume for regular household applications. These plastics find its use in a broad variety of applications including trash containers, clothing, packaging film, disposables and others. Commodity plastics are not utilized in critical service environments, and therefore do not need high mechanical strength. So, these plastics are relatively cheap and exhibit lower mechanical properties than the engineered plastics.

Major factors that are expected to boost the growth of the commodity plastics market in the forecast period are the rise in the industrialization and increasing construction and automotive sectors. Furthermore, the development of health care infrastructure is further anticipated to propel the growth of the commodity plastics market. Moreover, the rising need for flexible packing because of lower cost, availability, durability and reliability than the rigorous packaging in the packaging industries and growing metal prices is further estimated to cushion the growth of the commodity plastics market. On the other hand, amplified environmental concerns over plastic waste is further projected to impede the growth of the commodity plastics market in the timeline period.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-commodity-plastics-market 

In addition, the growing prospects in the advancing countries will further provide potential opportunities for the growth of the commodity plastics market in the coming years. However, the government regulations on the usage of plastics for packaging might further challenge the growth of the commodity plastics market in the near future.

Global Commodity Plastics Market Scope and Market Size

The commodity plastics market is segmented on the basis of type, type of plastic and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets. 

On the basis of type, the commodity plastics market is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), polymethyl methacrylate (PMMA), and others. Polyethylene is further sub-segmented into HDPE (high density polythene), LDPE (low density polythene), LLDPE (Linear low density polythene), UHMW (ultra-high molecular weight polyethylene), and polyethylene terephthalate (PET). Polyvinyl chloride (PVC) is further segmented into rigid PVC and flexible PVC. Polypropylene (PP) is further segmented into polypropylene hoomo-polymers (PPH) and polypropylene co-polymers (PPC).
On the basis of type of plastic, the commodity plastics market is segmented into reusable and recyclable.
On the basis of application, the commodity plastics market is segmented into packaging, automotive, electronics, consumer goods, construction, textile, medical & pharmaceutical and others. Packaging is further segmented into film wraps, plastic bags, industrial & household chemical containers, milk jugs, cereal box liners and others.
Competitive Landscape and Commodity Plastics Market Share Analysis

The commodity plastics market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the commodity plastics market.

Some of the major players operating in the commodity plastics market are Exxon Mobil Corporation., Sinopec Corporation, Chevron Phillips Chemical Company., LLC, BASF SE, Dow, DuPont, LyondellBasell Industries Holdings B.V., Borealis AG, Braskem, Eni S.P.A, Formosa Plastics Corporation, Sumitomo Chemical Co., Ltd., Gas Authority of India Limited(GAIL), Hanwha Co. Ltd, INEOS, LG Chem, Ltd., Lotte Chemical, Mitsubishi Chemical Corporation, Nova Chemicals Corporation, PTT Global Chemical Public Company Limited, Reliance Industries Limited, Sabic, Sumitomo Chemical Company Limited, and Westlake Chemical Corporation among others.

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