According to Stratistics MRC, the Global Commodity Plastics Market is accounted for $468.30 billion in 2020 and is expected to reach $866.79 billion by 2028 growing at a CAGR of 8.0% during the forecast period. Growing packaging industry, growing production of lightweight electric vehicles and increasing metal prices are driving the market growth. However, an increased environmental concern over plastic waste is hampering the growth of the market.
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By geography, Asia Pacific is going to have high growth during the forecast period due to the growing demand for commodity plastic from the packaging and medical & pharmaceutical sector, especially in Asian countries like China, India, and Japan, is expected to drive the market growth in the region. Moreover, economic and healthcare development in the Asia Pacific countries associated with rising investments in the construction industry are major factors that are expected to drive the demand for commodity plastic in the region over the forecast period.
Some of the key players profiled in the Commodity Plastics Market include BASF SE, Dow Inc., SABIC, DuPont de Nemours, Inc., Mitsubishi Chemicals Holdings Corporation, Eastman Chemical Company, LG Chemicals, Chevron Phillips Chemical Co., LLC, Arkema SA, Exxon Mobil Corporation, Nippon Polyurethane Industry Corp Ltd., Huntsman Corporation, Mitsui Chemicals Inc., Qatar Petroleum and Exxon Mobil.
Types Covered:
• Polyethylene Terephthalate (PET)
• Polyester
• Acrylonitrile Butadiene Styrene (ABS)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Polystyrene (PS)
Type of Plastics Covered:
• Recyclable
• Non Reusable or Recyclable
• Reusable and Recyclable
End Users Covered:
• Furniture & Décor
• Textiles (Fibers and Fabrics)
• Packaging
• Electrical & Electronics
• Medical & Pharmaceutical
• Automotive & Transportation
• Building & Construction
• Consumer Durable Goods
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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