The growth of the construction industry in emerging markets such as Brazil, China, India, and Mexico has been instrumental in fueling the demand for plastics during 2015 and 2016. The growth of the market can be attributed to increased foreign investment in these domestic construction markets, as a result of easing FDI norms and requirements for better public and industrial infrastructure.
Growing population coupled with rapid urbanization and industrialization in emerging economies has been impelling federal governments to increase their construction spending to cater to increasing infrastructure needs. Rising construction spending by governments, particularly in China and India, will drive the demand for plastics in infrastructure and construction applications.
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Product Insights
Polyether Ether Ketone (PEEK) is one of the promising product segments in terms of volume as well as value. They are widely used in engineering applications owing to its characteristics, which include being colorless and organic. Polyaromatic semi-crystalline thermoplastic is commonly used in medical applications due to its favorable mechanical properties.
Application Insights
Various regulatory bodies have stipulated guidelines regarding packaging materials in food contact applications. Bisphenol-A (BPA), which is often employed to produce plastics and epoxy resins, has been under various regulatory scrutinies, mainly due to its abundant presence in plastics which is used in packaging such as PVC and polycarbonate.
Plastics composed of BPA breakdown when they are washed, heated, or stressed and can contaminate food and water through leaching from packaging lining. This occurrence has prompted regulatory bodies and other institutes to conduct scientific studies on them while regulatory agencies such as FDA and EFSA have established a partial ban and approved content. However, for general usage, BPA has been considered to be safe for human health and environment when used as intended (preventing it from contaminating food).
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Regional Insights
In addition, a well-established electrical & electronics manufacturing base in Taiwan and South Korea is anticipated to augur well for the market in the region. India, on the other hand, has a strong chemical industry, which strengthened its production in the last few years. Rapid urbanization, coupled with burgeoning manufacturing ecosphere, growing economies, and increasing infrastructural activities are supporting the growth of the market in Asia Pacific. Countries such as China, India, Vietnam, Indonesia, and the Philippines are witnessing a rapid GDP growth and offer lucrative opportunities for manufacturers.
Report Scope
Attributes & Details
Base year for estimation
2017
Historical data
2014 - 2016
Forecast period
2018 - 2025
Market representation
Volume in kilotons and revenue in USD and CAGR from 2018 to 2025
Regional scope
North America, Europe, China, Asia Pacific except China, Central & South America, Middle East & Africa
Country scope
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Poland, India, Japan, Brazil, Argentina, Saudi Arabia, United Arab Emirates, Oman
Report coverage
Volume and Revenue forecast, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analyst working days)
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