Commodity Plastics Market: Current Analysis and Forecast (2022-2028)

The global Commodity Plastics Market is expected to grow at a significant rate of around 6% during the forecast period. Factors that are positively influencing the market demand for commodity plastics are the growing demand use of plastics in the packaging industry as well as other end-use industries with multiple applications, such as packaging, photographic, electronics, and pharmaceuticals, and the increase in demand for consumer goods. In addition, commodity plastics are entire families of products made of a particular polymer. Commodity plastics are plastics that are inexpensive and do not possess any exceptional mechanical properties. Such plastics are produced in large volumes for a wide spectrum of applications such as food packaging and storage, household products, and carry bags. In addition, they exhibit relatively weak mechanical properties

Exxon Mobil Corporation, The Dow Chemical Company, BASF SE, Reliance Industries, Sinopec, Mitsubishi Chemical, Nova Chemicals, Sumitomo Chemical, LyondellBasell, Chevron Phillips Chemical.

Insights Presented in the Report:

"Amongst type, Polypropylene (PP) category to witness robust CAGR during the forecast period"

Based on type, the commodity plastics market is segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate (PET), poly (methyl methacrylate) (PMMA). Polypropylene (PP) caters substantial share of the market. As it is one of the cheapest thermoplastics and caters to a considerable share of global plastics materials consumption. Also, owing to its low price, ease of processing, chemically inertness, and many other attractive properties, it has replaced metals, glass, wood, cellophane, and paper in countless applications.

"Amongst end-user, packaging segment to hold a significant share in the market in 2020"

Based on end-user, the commodity plastics market is classified into oil & gas, manufacturing, healthcare/ pharmaceutical, food & beverages, energy & utility, consumer goods, metal & mining, transportation, and others. Among these, the packaging segment to hold a significant share in the market in 2020. Increasing demand for packaged food and beverages and growing demand for flexible packaging are some major factors driving revenue growth of this segment. Furthermore, the development in packaging materials technology and the increasing use of renewable plastics for packaging are anticipated to propel the segment growth in the coming years.

"Asia Pacific to hold a significant share in the market"

Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rapid growth in the e-commerce sector coupled with the increasing population and growing demand for packaged foods contributing to the growth of the market.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

The global Commodity Plastics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.