NEW YORK, Oct. 23, 2023 /PRNewswire/ — The commodity plastics market size is expected to grow by USD 159.09 billion from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 6.11% during the forecast period, according to Technavio. Increasing demand for packaging material is notably driving the commodity plastics market. However, factors such as stringent regulations over the usage of plastics may impede market growth. The market is segmented by product (polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polyethylene terephthalate (PS)), application (packaging, consumer goods, electronics, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
Technavio has announced its latest market research report titled Global Commodity Plastics Market 2023-2027
We provide a detailed analysis of 20 companies operating in the commodity plastics market including BASF SE, Braskem SA, Chevron Corp., Covestro AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Group, Hanwha Corp., INEOS Group Holdings SA, LG Chem Ltd., Lotte Chemical Corp., LyondellBasell Industries NV, Mitsubishi Chemical Corp., OMV Aktiengesellschaft, PTT Global Chemical Public Co. Ltd., Reliance Industries Ltd., Saudi Basic Industries Corp., Sumitomo Chemical Co. Ltd., and TotalEnergies SE.
Commodity Plastics Market 2023-2027: Company Analysis
BASF SE: The company provides different types of commodity plastics for footwear, automotive, and electronic applications.
This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information
Commodity Plastics Market 2023-2027: Segmentation
The market share growth by the polyethylene (PE) segment will be significant during the forecast period. Polyethylene (PE) is a light, long-lasting thermoplastic with a varying crystal structure. It is one of the most typically manufactured plastics across the globe. Polyethylene packaging refers to the technology of packaging or enclosing products to protect them from the external environment for the purpose of storage, distribution, and sale.
Geography
APAC accounts for 32% of market growth during the forecast period. Emerging markets such as China and India are expected to be significant revenue contributors to the market in this region. This is mainly due to the steadily growing e-commerce, fast-moving consumer packaged goods (FMCG), consumer electronics, and personal care end-use industries.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report
Related Reports:
The plastic market is estimated to grow at a CAGR of 6.27% between 2022 and 2027. The size of the market is forecast to increase by USD 214.81 billion.
The compostable plastic market size is estimated to grow at a CAGR of 15.54% between 2022 and 2027. The market size is forecast to increase by USD 1,905.33 million.
|
Commodity Plastics Market Scope |
|
|
Report Coverage |
Details |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 6.11% |
|
Market growth 2023-2027 |
USD 159.09 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023 (%) |
5.82 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 32% |
|
Key countries |
US, China, Germany, France, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
BASF SE, Braskem SA, Chevron Corp., Covestro AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Group, Hanwha Corp., INEOS Group Holdings SA, LG Chem Ltd., Lotte Chemical Corp., LyondellBasell Industries NV, Mitsubishi Chemical Corp., OMV Aktiengesellschaft, PTT Global Chemical Public Co. Ltd., Reliance Industries Ltd., Saudi Basic Industries Corp., Sumitomo Chemical Co. Ltd., and TotalEnergies SE |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio