Commodity Plastics Market Size was Worth of USD 394.3 billion in 2020 and is expected to reach USD 699.5 Billion in 2027, growing at a CAGR of 5.9% from 2021 to 2027. The global Commodity Plastics is expected to grow at a significant rate due to the number of driving factors.
Top Commodity Plastics Companies: Exxon Mobil, Sumitomo Chemical, LG Chem, SABIC, The Dow Chemical Company, BASF SE, Sinopec, Ineos, LyondellBasell, Mitsubishi Chemical, Formosa Plastics, Borealis AG, Chevron Phillips Chemical, ENI SpA, Reliance Industries, Braskem, Indian Oil, Lotte Chemical, Qenos Pty, Haldia Petrochemicals, Hanwha Chemical, Nova Chemicals, Qatar Petroleum, Westlake Chemical, and PTT Global Chemical. These are All the Important Key Players in Commodity Plastics Industry and Deeply Focused on Growing packaging industry as well as wide application in various in various industries drives the growth of Commodity Plastics Market.
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Plastics are often employed in various applications like shopping bags and garments. Majority of plastic products manufactured across the world are made up of six sorts of plastic materials: polyethylene, polypropylene, polyvinylchloride, polystyrene, polyester, and polyurethane. Commodity plastics are lighter, immune to abrasion, and structurally stable. These are recyclable and can be easily moulded into variety of shapes. They also have higher strength as compared to other substitutes.
Commodity plastics are used in high volume and numerous ranges of applications such as photographic tape, magnetic tape, films for packaging, beverages, clothing, and trash containers. Commodity plastics also can be used in various household products where mechanical properties and repair environments aren't critical. These include carrying trays, plates, cups, containers, printed materials, medical trays, and seeding trays.
The spread of COVID-19 has generated a huge trouble in daily activities. The global commodity plastics market is projected to witness a modest decrease in its rate of growth as commodity plastics utilized in various sectors like automotive, construction, textiles, as well as electronics will witness a decline in demand. However, there will be a surge in the demand for commodity plastics used in the consumer goods, packaging, medical & pharmaceutical industries during COVID-19.
News: Advanced Global Investment Company has selected LyondellBasell's Spheripol and Spherizone PP Technologies
Advanced Global Investment Company (AGIC) has selected the LyondellBasell's leading polypropylene technology for a new world-scale facility. This technology will be used in the AGIC's polyolefin production assets situated in Jubail Industrial City, Kingdom of Saudi Arabia. This facility includes 400KTA polypropylene plant using benchmark LyondellBasell's technology and leading Spherizone technology.
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Global Commodity Plastics Market Segmentation:
The market is based on type, end user and region. On the basis of type, it is classified as PVC, PS, ABS, PET and PMMA. On the basis of end-use it is classified as Packaging, Construction, Consumer Goods, Automotive, Electronics, Textiles, Medical & Pharmaceutical and Others (agricultural films, sports equipment, educational stationery, and bike spare parts)
By type:
PE
PP
PVC
PS
ABS
PET
PMMA
By end-use industry:
Packaging
Construction
Consumer Goods
Automotive
Electronics
Textiles
Medical & Pharmaceutical
Others (sports equipment, agricultural films, educational stationery, and bike spare parts)
The regions covered in this Commodity Plastics Market report are North America, Europe, Asia-Pacific and Rest of the World. On the base of nation level, the marketplace is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, India, China, Japan, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Asia Pacific is expected to dominate Commodity Plastics Market
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