Chemicals Industry Today
Commodity Plastics Market Slated to Grow Exponentially to Garner Huge Market Value during 2017 to 2022
Commodity Plastic Market Information - by Type (Polyethylene, Polypropylene, Polypropylene, Polyethylene Terephthalate, Polystyrene and others), by Application (Packaging, Consumer Goods, Electronics, Automotive, Textile, Pharmaceuticals and others) and by Region - Forecast to 2022
Published 07 February 2018
Market Research Future Published a Research Report on “Global Commodity plastics Market - Forecast to 2022” - Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
Dow Chemical (US), Exxon Mobil (US), BASF (Germany), Sinopec (China), SABIC (Saudi Arabia), LG Chem (South Korea), Sumitomo Chemical (Japan), LyondellBasell (Netherlands), Ineos (Switzerland), Formosa Plastics (Taiwan), and Mitsubishi Chemical (Japan) among others are some of the prominent players at the forefront of competition in the global Commodity plastics Market and are profiled in MRFR Analysis.
Key Findings:
Commodity plastics are a lucrative market and is expected to have a steady growth during the forecast years. Commodity plastics are a class of plastic that are primarily used as a raw material in wide range of industries. Molding ability, low electrical conductivity, transparency, and toughness makes them suitable for the use in many applications such as packaging, automotive, electrical & electronics, consumer goods, construction, textile, and medical among others. The growing demand from these industries are a major factor driving the global market of commodity plastics. However, the stringent government regulations relating to the use of these plastics due to their adverse environmental effects are a major down side to the growth of the market. Furthermore, the growing investment in research and development activities for the development of biodegradable plastics is expected to be a major opportunity in the market.
The global market of commodity plastics is segmented on the basis of product type and application. On the basis of the product type the market of commodity plastics is segregated as polyethylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polypropylene (PP), and Polymethyl Methacrylate (PMMA). Among the various product segment, polyethylene (PE) is estimated to show a considerable growth during the forecast years. Advantages such as easy availability and low processing cost makes them ideal for the use in plastic bags, films, bottles, and household and kitchenware among others. On the basis of application the market is further bifurcated into packaging, consumer goods, construction, automotive, electronics, construction, medical and textile among others. The packaging application is anticipated to be the dominant segment on account of the growing use in food and beverage, pharmaceuticals, electronics and other consumer goods.
Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/2771
According to the analysis of MRFR, the major market forces and trends driving growth of the global Commodity plastics Market includes growth of packaging sector and the burgeoning growth in the automobile and construction industry. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the global Commodity plastics market during the forecast period. In addition, the growing government investment in development of residential and commercial infrastructure throughout the globe coupled with the propelling automotive and electrical and electronics sector are other factors contributing to the market growth.
Industry/ Innovation/ Related News:
1st January 2018 - Inter pipeline and Canadian hydrocarbon pipeline has invested US$ 2.7 billion for propane dehydrogenation and polypropylene production complex in Alberta Canada. This plant is expected to be a low cost incurring production plant for polypropylene in the North American region. This new production facility is anticipated to surge the growth of the commodity plastics market especially in Canada and U.S.
18th December, 2017- SABIC on account of their 2025 global expansion strategy has set a new polypropylene and propane dehydrogenation plant in Netherland. The Saudi Arabian chemicals company is set to use advanced technology to produce next generation polypropylene copolymers. This expansion is expected to increase their consumer base and cater to the growing demand from the automotive and building & construction activities.
Commodity Plastics Market- Competitive Landscape:
The Global Commodity Plastics Market is a highly lucrative market driven by flourishing growth in packaging and automotive industry, along with the propelling construction industry. Dow Chemical (US), Exxon Mobil (US), BASF SE (Germany), Sinopec (China), SABIC (Saudi Arabia), LG Chem (South Korea) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global Commodity plastics Market is projected to witness considerable competition over the forecast period of 2017-2022.
Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for paint and coatings in the region. Moreover, increasing population in India and China has brought about more government spending in infrastructural developments coupled with the growing automobile industry in the region is also expected to drive the market of commodity plastics positively during the forecast years. Furthermore, the developing retail sector in the region has augmented the demand for consumer goods, hence surging the packaging industry, which in turn is a major boost to the commodity plastics market.
Read more about Report @ https://www.marketresearchfuture.com/reports/commodity-plastic-market-2771
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel thecomplexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
Dow Chemical (US), Exxon Mobil (US), BASF (Germany), Sinopec (China), SABIC (Saudi Arabia), LG Chem (South Korea), Sumitomo Chemical (Japan), LyondellBasell (Netherlands), Ineos (Switzerland), Formosa Plastics (Taiwan), and Mitsubishi Chemical (Japan) among others are some of the prominent players at the forefront of competition in the global Commodity plastics Market and are profiled in MRFR Analysis.
Key Findings:
- Global commodity plastic market is projected to reach USD 493.1 billion by 2022 with 5.56% CAGR during review period of 2016-2022
- Asia-Pacific accounted for largest share due to growing application industries in this region
- Among types, polyethylene has acquired the market share of 31% in 2015 with the market value of USD 105.4 billion growing at a CAGR of 5.85% till forecast period.
- Among applications, packaging industry emerged as the leading application industry in global commodity plastic market.
Commodity plastics are a lucrative market and is expected to have a steady growth during the forecast years. Commodity plastics are a class of plastic that are primarily used as a raw material in wide range of industries. Molding ability, low electrical conductivity, transparency, and toughness makes them suitable for the use in many applications such as packaging, automotive, electrical & electronics, consumer goods, construction, textile, and medical among others. The growing demand from these industries are a major factor driving the global market of commodity plastics. However, the stringent government regulations relating to the use of these plastics due to their adverse environmental effects are a major down side to the growth of the market. Furthermore, the growing investment in research and development activities for the development of biodegradable plastics is expected to be a major opportunity in the market.
The global market of commodity plastics is segmented on the basis of product type and application. On the basis of the product type the market of commodity plastics is segregated as polyethylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Polypropylene (PP), and Polymethyl Methacrylate (PMMA). Among the various product segment, polyethylene (PE) is estimated to show a considerable growth during the forecast years. Advantages such as easy availability and low processing cost makes them ideal for the use in plastic bags, films, bottles, and household and kitchenware among others. On the basis of application the market is further bifurcated into packaging, consumer goods, construction, automotive, electronics, construction, medical and textile among others. The packaging application is anticipated to be the dominant segment on account of the growing use in food and beverage, pharmaceuticals, electronics and other consumer goods.
Get a Sample Report @ https://www.marketresearchfuture.com/sample_request/2771
According to the analysis of MRFR, the major market forces and trends driving growth of the global Commodity plastics Market includes growth of packaging sector and the burgeoning growth in the automobile and construction industry. Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the global Commodity plastics market during the forecast period. In addition, the growing government investment in development of residential and commercial infrastructure throughout the globe coupled with the propelling automotive and electrical and electronics sector are other factors contributing to the market growth.
Industry/ Innovation/ Related News:
1st January 2018 - Inter pipeline and Canadian hydrocarbon pipeline has invested US$ 2.7 billion for propane dehydrogenation and polypropylene production complex in Alberta Canada. This plant is expected to be a low cost incurring production plant for polypropylene in the North American region. This new production facility is anticipated to surge the growth of the commodity plastics market especially in Canada and U.S.
18th December, 2017- SABIC on account of their 2025 global expansion strategy has set a new polypropylene and propane dehydrogenation plant in Netherland. The Saudi Arabian chemicals company is set to use advanced technology to produce next generation polypropylene copolymers. This expansion is expected to increase their consumer base and cater to the growing demand from the automotive and building & construction activities.
Commodity Plastics Market- Competitive Landscape:
The Global Commodity Plastics Market is a highly lucrative market driven by flourishing growth in packaging and automotive industry, along with the propelling construction industry. Dow Chemical (US), Exxon Mobil (US), BASF SE (Germany), Sinopec (China), SABIC (Saudi Arabia), LG Chem (South Korea) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global Commodity plastics Market is projected to witness considerable competition over the forecast period of 2017-2022.
Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for paint and coatings in the region. Moreover, increasing population in India and China has brought about more government spending in infrastructural developments coupled with the growing automobile industry in the region is also expected to drive the market of commodity plastics positively during the forecast years. Furthermore, the developing retail sector in the region has augmented the demand for consumer goods, hence surging the packaging industry, which in turn is a major boost to the commodity plastics market.
Read more about Report @ https://www.marketresearchfuture.com/reports/commodity-plastic-market-2771
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel thecomplexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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