Commodity Plastics Market by Product Type (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polyethylene Terephthalate (PET), Poly Methyl Methacrylate (PMMA), and Others), End Use (Construction, Packaging, Automotive, Medical & Pharmaceutical, Textile, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026258 | Pages: 100 | Industry: Chemicals and Materials | Date: Sep 2022 | Type: Global

The market crossed US$ 525 billion mark in 2022 and is expected to hit US$ 830 billion by 2030, recording approximately a CAGR of 5.9% during the forecast period.

Commodity plastic market has been significantly growing with higher adoption of plastic in various end use industries.

Growing packaging industry globally, surg in production of lightweight electric vehicles and increasing metal price, and increasing disposable income generating higher demand for consumer goods are some of the major factors driving the growth of the market. The Polyethylene Terephthalate (PET) segment is expected to pace up with increasing use in consumer products, food items and beverages for packaging. Further, the physical properties of PET such as good water resistance, moisture resistance, and other has attributed its demand. Further, Polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), and others segment is also expected to gain traction during the forecasted year.

Within the report, the market is segmented into type, end use, and geography. By product type, the market is further segmented into polyethylene (PE), polypropylene (PP), polyvinyl Chloride (PVC), polystyrene (PS), polyethylene terephthalate (PET), poly methyl methacrylate (PMMA), and Others. By end use, the market is categorized into construction, packaging, automotive, medical & pharmaceutical, textile, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Increasing demand from emerging economies has empowered the growth of futuristic innovations.

Commodity plastics are plastics used for manufacturing of various comedies in commercial and industrial applications. These are widely used in applications such as trash containers, disposables, clothing, packaging film and others. They are not used in critical service environment and thus does not require high mechanical strength. The demand for commodity plastic has surged owing to increasing in developing economies such as India, China, Brazil, Argentina, and amongst others. This is attributed by rapid industrialization and urbanization surging the demand for commodity plastic during the forecast period.

Rising adoption in various industries is one of the major factors accelerating the market growth.

The industries for commodity plastic are construction, packaging, automotive, medical & pharmaceutical, textile, and others. Within these industries, packaging industry is one such industry, wherein the use of commodity plastic is increasing owing to increasing food and beverages industry, rising use of plastics in e-commerce industry, and increasing consumer importance of plastic packaging products. The automotive industry has also witnessed an extensive use of commodity plastic owing to extensive use in various interior parts of vehicles.

Recent strategic developments in commodity plastic market

The commodity plastics market has undergone several significant developments, and a few of these have been mentioned below:

  • In May 2020, LyondellBasell announced that Advanced Global Investment Company (Saudi Arabia) selected its polypropylene technology for a new facility.

The commodity plastics market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. BASF SE, SABIC, Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., and INEOS are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Commodity plastics related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of commodity plastics industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product Type:
    • Polyethylene (PE)
    • Polypropylene (PP)
    • Polyvinyl Chloride (PVC)
    • Polystyrene (PS)
    • Polyethylene Terephthalate (PET)
    • Poly Methyl Methacrylate (PMMA)
    • Others
  • End Use:
    • Construction
    • Packaging
    • Automotive
    • Medical & Pharmaceutical
    • Textile
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • BASF SE
    • SABIC
    • Exxon Mobil Corporation
    • LyondellBasell Industries Holdings B.V.
    • INEOS

Companies profiled

- Exxon Mobil Corporation
- LyondellBasell Industries Holdings B.V.

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