Press release
Plastic Resins Market Outlook, Top Key Players Analysis, Trends, Development Status, CAGR of 4.5% by 2027
Favorable federal regulations on CO2 emissions set by agencies such as the National Highway Traffic Safety Administration and the Environmental Protection Agency (EPA), as well as EU initiatives to develop plastics applications for light-weight and fuel-efficient cars, are expected to fuel global growth and promote the market.However, the ongoing health crisis and the lockdown imposed by various governments to contain the spread of the coronavirus pandemic have led to a decline in the consumption of plastic resins.
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It is expected to further negatively impact the market growth in the years to come.
Strict restrictions governing the recyclability and deterioration of traditional building materials like metal and wood are likely to boost the demand for textiles in pipes, windows, cables, storage tanks, and other uses.Plastics are long-lasting and energy-efficient, as well as cost-effective and safe, which encourages their usage in construction.
The global market is segmented into crystalline resin, non-crystalline resin, engineering plastics, and super engineering plastics by type. The crystalline resin was the largest segment, accounting for 61.9% of global sales in 2021. The crystalline resin segment mainly includes epoxy, polyethylene, and polypropylene resins.
๐๐๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐๐ฅ๐๐ฌ๐ญ๐ข๐ ๐๐๐ฌ๐ข๐ง๐ฌ ๐๐๐ซ๐ค๐๐ญ @ https://www.alliedmarketresearch.com/request-for-customization/7937
Based on application, the packaging segment contributed to the largest share in 2019, holding more than one-third of the global plastic resins market, and is projected to maintain its highest contribution during the forecast period. However, the automotive segment is expected to witness the highest CAGR of 5.2% from 2020 to 2027.
By region, Asia-Pacific contributed to the highest market share in 2019, accounting for nearly two-fifths of the market, and will continue its dominance by 2027. However, North America is expected to register the fastest CAGR of 5.0% during the forecast period.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/plastic-resins-market/purchase-options
Leading players of the global plastic resins market analyzed in the research include Arkema S.A., Dow Chemical, Celanese Corporation, Evonik Industries AG, DuPont, LyondellBasell, Formosa Plastic Group, Sumitomo Chemical Company, SABIC, and Toray Industries, Inc.
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