The global commodity plastics market size is expected to reach USD 567.4 billion by 2028 according to a new study by Polaris Market Research. The report “Commodity Plastics Market Share, Size, Trends, Industry Analysis Report, By Product (PE, PP, PVC, PET, PS); By Application (Automotive, Electronics, Packaging, Pharmaceuticals, Textiles, Consumer Goods); By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is projected to witness considerable growth during the forecast period on account of rapidly rising demand for high-performance end-use products such as lightweight packaging materials. In addition, the improving economic parameters and improvised standards of living in developing counties are likely to be the crucial drivers which have flourished the market growth.
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Demand for commodity plastics has also grown on account of an increase in metal prices. The global plastic industry has been forced to focus on innovation concerning the biodegradability of plastics as many nations have banned the use of plastics that is non-biodegradable. Also, light-weight electric vehicles have increasingly gained significance which in turn has further strengthened the demand for electric vehicles.
Commodity plastics indicate a higher scope of applications across numerous end-use industries as these are supplied in bulk and have excellent chemical properties. In addition, these can be utilized for numerous applications such as packaging, garbage containers, photography, clothing, and magnetic tapes among many. These are also applied in industries such as consumer goods, automotive, manufacturing, packaging, electronics, construction, textiles, and pharmaceutical.
Based on product the market is bifurcated into Polyvinyl Chloride (PVC), Poly (methyl methacrylate) (PMMA), Polystyrene (PS), Polypropylene (PP), Polyethylene (PE), and others. Among them, PE is the most extensively used and product with the highest demand. This is due to its chemical & physical properties such as its simple structure, insensitivity to a majority of solvents, and high electrical resistance. Also, these bulk plastics are readily available and at lower costs.
On the basis of application, the market has been segmented into consumer goods, automotive, electronics, textiles, pharmaceuticals, packaging, and others. Among all the application segments, the packaging sector holds the highest market share and is anticipated to remain the same during the forecast period owing to the expansion of end-use industries. The most crucial reason behind such dominance is the rapidly growing demand for such bulk plastics by the manufacturing industry for the production of high-end packaging products and plastic goods.
The Asia Pacific is anticipated to be the largest and fastest-growing regional player in the market. This is mainly due to the rapidly increasing living standards of the growing middle-class. The middle-class population in the developing countries of this region are increasingly seeking even higher standards of living, and are likely to spend heavily on electronic appliances, packaged goods, clothing, automobiles, other goods that make use of commodity plastics in some or the other way.
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The global commodity plastics market is characterized by the presence of numerous multinational and domestic players. The industry is fairly concentrated in nature. Some of the established market players in the industry include Exxon Mobil Corporation, The Dow Chemical Company, BASF SE, SABIC, China Petroleum & Chemical Corporation (Sinopec), Mitsubishi Chemical Corporation, INEOS, LyondellBasell Industries N.V., Formosa Plastics Corporation, and LG Chem Ltd.
The established market players are actively involved in the increasing number of R&D activities in order to manufacture innovative plastic products. In addition, these players are also striving hard to enhance their existing product portfolio to stay equivalent to their level of competitors.
Polaris Market Research has segmented the global commodity plastics market on the basis of product, application, and region:
Commodity Plastics by Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Poly (methyl methacrylate) (PMMA)
- Others
Commodity Plastics by Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)
- Automotive
- Consumer Goods
- Electronics
- Packaging
- Pharmaceuticals
- Textiles
- Others
Commodity Plastics by Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 – 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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New York, NY 25 Feb 2021 : The global commodity plastics market size is anticipated to reach $651.8 billion by 2026, growing at a CAGR of 7% during the forecast period, according to a report published by Polaris Market Research.
In addition, the improving economic parameters and improvised standards of living in emerging counties are likely to be the crucial drivers which have flourished the market growth.
The global plastic industry has been forced to focus on innovation concerning biodegradability of plastics as many nations have banned the use of plastics that is non-biodegradable.
Also, light-weight electric vehicles have increasingly gained significance which in turn has further strengthened the demand for the electric vehicles.
In addition, these can be utilized for numerous applications such as packaging, garbage containers, photography, clothing, and magnetic tapes among many.
Based on product-type the market is bifurcated into Polystyrene (PS), Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Poly (methyl methacrylate) (PMMA), and others.
The global commodity plastics market size is anticipated to reach $651.8 billion by 2026, growing at a CAGR of 7% during the forecast period, according to a report published by Polaris Market Research.
In addition, the improving economic parameters and improvised standards of living in emerging counties are likely to be the crucial drivers which have flourished the market growth.
The global plastic industry has been forced to focus on innovation concerning biodegradability of plastics as many nations have banned the use of plastics that is non-biodegradable.
Also, light-weight electric vehicles have increasingly gained significance which in turn has further strengthened the demand for the electric vehicles.
In addition, these can be utilized for numerous applications such as packaging, garbage containers, photography, clothing, and magnetic tapes among many.
Based on product-type the market is bifurcated into Polystyrene (PS), Polypropylene (PP), Polyethylene (PE), Polyvinyl Chloride (PVC), Poly (methyl methacrylate) (PMMA), and others.
In 2017, the passenger cars dominated the global automotive brake market, in terms of revenue.
The increasing need to improve road safety coupled with introduction of stringent safety regulations has encouraged market players to develop advanced brake systems.
New emerging markets, emerging consumer demographics, and increasing adoption of brake-by-wire systems and regenerative brakes would provide growth opportunities for automotive brake systems market in the coming years.
The economic growth in countries such as China, Japan, and India, rising living standards, and growing disposable income further increases the demand of automobiles in the region.
Expansion of global players into these countries to tap market potential boosts the market growth.
Increasing demand for luxury vehicles, electric vehicles, and development of autonomous vehicles would provide growth opportunities during the forecast period.
Wireless Power Transmission Global Market - OverviewThe Wireless Power Transmission Market is growing with the rapid pace; mainly due to its application in the consumer electronics.
According to a recent study report published by the Market Research Future, The Wireless Power Transmission market has been increasing and is expected to gain prominence over the forecast period.
The market is expected to grow further continuing with the trend at a rapid pace in the years to come.
The global wireless power transmission is expected to reach to USD ~12 billion by the end of 2022 with ~24% CAGR during forecast period 2016-2022The key drivers contributing to the growth of the Wireless Power Transmission Market are consumer’s preference for wireless connectivity, need for effective charging systems and features such as reliability, efficiency, fast, low maintenance cost.
Also, increasing growth in consumer electronics market in countries such as South Korea and Japan and rising need for battery powered equipment are driving the growth of the market.
By technology, the market has been bifurcated into Inductive, Magnetic Resonance, Conductive, RF among others.
AMA Research have added latest edition of survey study on Global Wireless Power Transmission Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis.
The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data.
The research study provides estimates for Global Wireless Power Transmission Forecast till 2025*.
Wireless power transmission has a huge demand in consumer electronics, for example, laptop, tablets, smartphones, and other devices.
Market Growth DriversGrowth in the Consumer Electronics MarketIncreasing Use of Wireless Power TransmissionInfluencing TrendConsumer Preference for Wireless ConnectivityRestraintsRising Cost of Wireless Power TechnologyChallengesLack of Common Standards To comprehend Global Wireless Power Transmission market dynamics in the world mainly, the worldwide Wireless Power Transmission market is analyzed across major global regions.
AMA also provides customized specific regional and country-level reports for the following areas.
