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Global Commodity Plastics Market Size, Trends and Analysis - Forecasts 2026 By Product (Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polystyrene (PS), Poly Methyl Methacrylate (PMMA)), By End-Use (Packaging, Building & Construction, Electrical & Electronics, Automotive & Transportation, Medical & Pharmaceutical, Textile, Consumer Durable Goods, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, CSA), Vendor Landscape, End User Landscape, and Company Market Share Analysis & Competitor Analysis
Commodity Plastics Market Insights
The global commodity plastics market is estimated to witness a significant CAGR during the forecast period (2020-2026). Growing production of lightweight electric vehicles and rising metal prices are driving the market over the coming years. Commodity plastics are commonly used in mass-produced goods and items with a single-use type, such as wrapping films or water glasses. Moreover, the growing demand for packaging bottles, trays, and crates, among others for food and beverage packaging is expected to propel the market growth. Commodity plastics are lighter, structurally stable, and abrasion-resistant. They can be easily recycled and shaped into many forms, making them highly appropriate for packaging applications. However, stringent environmental rules and regulations, and improper disposable of plastics are hampering the market growth.
Commodity Plastics Market: By Product
Based on product, the market is segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), polystyrene (PS), and poly methyl methacrylate (PMMA). The polyethylene (PE) segment is expected to hold the largest market share in terms of volume during the forecast period due to increasing application in consumer durable products, and medical & pharmaceutical industries. Moreover, growing demand for packaged food & beverages is expected to propel the market growth. Furthermore, poly methyl methacrylate (PMMA) segment is expected to grow at a high CAGR during the forecast period due to increasing application in automotive & transportation and building & construction industries.
Commodity Plastics Market: By End-Use
Based on end-use, the market is segmented into packaging, building & construction, electrical & electronics, automotive & transportation, medical & pharmaceutical, textile, and consumer durable goods, among others. The packaging segment is expected to hold the largest market share in terms of value and volume during the forecast period due to the growing demand for flexible packaging because of its durability and high recyclability. Moreover, the rising use of renewable plastics for packaging and development in the packaging materials is expected to propel the market growth. Furthermore, the medical & pharmaceutical segment is expected to grow at a high CAGR during the forecast period.
Commodity Plastics Market: By Region
Based on region, the market is segmented into North America, Asia-Pacific, Europe, CSA, and Middle East & Africa. The Asia-Pacific region is expected to hold the largest market share during the forecast period due to increasing demand for commodity plastics from the packaging and medical & pharmaceutical sector, especially in countries, such as China, India, and Japan. Moreover, increased investments in the construction industry and consumption of packaged foods and consumer goods are propelling the market growth for the Asia-Pacific region. Furthermore, North America is expected to grow at high CAGR during the forecast period.
Commodity Plastics Market: Share & Competitor Analysis
Some of the key players operating in the commodity plastics market include: Chevron Phillips Chemical Co., LLC, BASF SE., SABIC, Dow Inc., Exxon Mobil Corporation, Evonik Group, Sumitomo Chemical Co., Ltd., DuPont de Nemours, Inc., Arkema, and Eastman Chemical Company among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In April 2020, BASF SE's innovative material solution Ultramid Balance announced to produce a new rear bumper stay, an automotive part designed to protect the underbody of vehicles for Molten recognized as a global Japanese supplier of sporting goods and automotive components. It has been used in Mazda’s newly launched car models Mazda 3 & CX-30
In March 2020, Dow Chemical Company's business division Dow Polyurethanes announced the launch of its innovative sleeps solutions developed through ComfortScience at Interzum 2019, in Cologne, Germany, 21-24 May
Related Report: Global Foam Plastcis Market Size, Trends & Analysis - Forecasts to 2026
Check the Press Release on Global Commodity Plastics Market Report
Commodity Plastics Market: By Product
Commodity Plastics Market: By End Use
Commodity Plastics Market: By Region
The global Commodity Plastics Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Commodity Plastics Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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