Global Commodity Plastic Market to Reach a Valuation of USD 493.1 billion by 2022 at 5.56% of Growth Rate

Market Research Future adds new report of “Global Commodity Plastic Market Research Report – Forecast 2016-2022” it contains Company information, geographical data and Table of Content

Market Segmentation:

The global commodity plastic market has been segmented into types, applications and region

• On the basis of Types the market is segmented into Polyethylene, Polypropylene, Polypropylene, Polyethylene Terephthalate, Polystyrene

• On the basis of Applications have been segmented into Packaging, Consumer Goods, Electronics, Automotive, Textile, Pharmaceuticals

Among all the types, polyethylene has accounted the largest market share in 2015, whereas packaging industry has become the leading application industry.

Key Findings:

• Global commodity plastic market is projected to reach USD 493.1 billion by 2022 with 5.56% CAGR during review period of 2016-2022

• Asia-Pacific accounted for largest share due to growing application industries in this region

• Among types, polyethylene has acquired the market share of 31% in 2015 with the market value of USD 105.4 billion growing at a CAGR of 5.85% till forecast period.

• Among applications, packaging industry emerged as the leading application industry in global commodity plastic market.

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Market Highlight:

The need for commodity is gradually rising due to constraining factors such as Growing Asia-Pacific Market, Increasing Demand from FMCG and Plastic Packaging Industries, emerging economies and among others. Commodity plastics are the class of plastics which are majorly used in large volume and in broad range of applications, such packaging, electronics, consumer goods, photographic and magnetic tape, textile and a variety of household products. Such plastics show relatively low mechanical properties and are of low cost. Commodity plastic end product products mainly includes Plates, trays, Cups, Trays & Medical Trays, Containers, Printed Material and other disposable items.

Global commodity plastic has very broad market in coming recent years. MRFR analysts has predicted that packaging and consumer goods are about to grow near USD 208 billion by the year 2022 which means more demand for these industries and in turn for commodity plastic. Another driver for commodity plastic market is growing Asia-Pacific market. The commodity plastic market is majorly driven by its growing consumption in FMCG and consumer good, however, it has created a global platform for the manufacturers to expand and to increase the production capacity to meet current as well as forecast demand. Geographically, Asia-Pacific holds the healthy market share in terms of value and volume, which direct implies, the demand coming from China, India, Japan, Taiwan, Malaysia and other countries positively affecting the growing of commodity plastic market.

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Key Market Players

The key players in Global Commodity Plastic Market report included are

• BASF SE
• The Dow Chemicals Company
• SABIC, Arkema SA
• Mitsui Chemicals
• LG Chemicals
• Mitsubishi Chemicals Holdings Corporation

Target Audience

• Commodity plastic producers
• Traders and distributors
• Association and government bodies.
• Application industries
• Plastic manufacturers
• Research institute

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This release was published on openPR.