Press release
Plastic Market to reach USD 680.04 Bn. Bn by 2029, emerging at a CAGR of 5 percent and forecast 2023-2029
Plastic Market
In 2022, the Plastic Market soared to a valuation of US$ 483.29 billion. The market is poised for sustained growth, with an anticipated 5.0% annual increase from 2023 to 2029. Projections indicate that the overall revenue will reach nearly US$ 680.04 billion by 2029.
Maximize Market Research Pvt Ltd's latest report covers market trends from 2017, forecasting market dynamics up to 2029, with 2022 as the base year. Special emphasis is placed on the impact of the COVID-19 pandemic on demand, supply, and market trends, with a specific focus on companies that thrived during the lockdown.
The report employs a robust research methodology to analyze market trends and dynamics. To gain valuable insights, stakeholders are encouraged to request a free sample report to understand the thorough research process.
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Plastic Market Dynamics:
The report delves into the dynamics of the Plastic Market, considering factors such as population growth, urbanization, and industrialization. Government investments in construction and infrastructure, particularly in China and India, stimulate demand for plastic.
The Plastic Market is driven by the increasing use of plastic in construction, automotive, and electrical and electronics industries. Regulatory measures promoting fuel efficiency and reduced carbon emissions in automobiles are steering the adoption of plastic as a substitute for traditional metals.
Environmental concerns regarding plastic waste pose a significant challenge to the commodity plastics sector. Slow decomposition of plastic trash and its impact on soil quality, groundwater contamination, and harm to marine life are key obstacles to market growth.
Plastic Market Regional Insights:
Asia Pacific emerged as the dominant force in the Plastic Market in 2021, accounting for over 44.0% of global revenue. The region's robust industrial sector, especially in automotive, construction, packaging, and electronics, is propelling market growth. Rapid urbanization, economic growth, and infrastructure development in countries like China and India contribute to the region's market dominance.
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Plastic Market Segmentation:
by Product
PE
PP
PU
PVC
Polystyrene
ABS
PBT
PPO
Epoxy Polymers
LCP
PC
Polyamide
by Application
Packaging
Automotive & Transportation
Infrastructure & Construction
Consumer Goods/Lifestyle
Healthcare & Pharmaceutical
Electrical & Electronics
by Technology
Injection Molding
Blow Molding
Extrusion Molding
Thermoforming
Rotational Molding
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Plastic Market Key Players:
1. BASF SE
2. SABIC
3. Dow Inc.
4. DuPont de Nemours, Inc.
5. Evonik Industries
6. Sumitomo Chemical Co., Ltd.
7. Arkema
8. Celanese Corporation
9. Eastman Chemical Company
10. Chevron Phillips Chemical Co., LLC
11. Lotte Chemical Corporation
12. Exxon Mobil Corporation
13. Formosa Plastic Corporation
14. Covestro AG
15. Toray Industries, Inc.
16. Mitsui & Co. Plastic Ltd.
Get to Know More About This Market Study:https://www.maximizemarketresearch.com/market-report/global-plastic-market/100495/
1.Global Plastic Market: Research Methodology
2.Global Plastic Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Plastic Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4 . Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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