Global Commodity Plastic Market has been growing at the CAGR of ~5.56 % from 2016 and is expected to continue the same till 2022.Test the market data and market information presented over more than 200 market data tables and figures spread in more than 190 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on “Global Commodity Plastic Market from 2016 to 2022.
Market Highlights
Although commodity plastics have a large number of advantages, the most important is their versatility. The increasing need for high standard performance plastic across all modern applications is driving the growth of commodity plastic market.
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This has also resulted in the development of newer and improved application and performance properties; commodity plastic that are fast, easy, and low cost are in demand. Such newly developed commodity plastic includes fast curing polyethylene and polyurethanes, PVC and PET and others.
Commodity plastics belongs to a superior class of plastic material which are broadly used in large volume in multiple applications which majorly include packaging, consumer goods, electronics, automotive, textile, pharmaceuticals and others. These plastics are used in application industries to enhance their mechanical properties and simultaneously helps in reducing the cost of production. However, from the manufacturers’ side, this has created a platform to increase the production capacity to meet the current demand.
Market Segmentation
The global commodity plastic market has been segmented into types, applications and region. Among types the market is segmented into Polyethylene, Polypropylene, Polypropylene, Polyethylene Terephthalate, Polystyrene and others, whereas the applications have been segmented into Packaging, Consumer Goods, Electronics, Automotive, Textile, Pharmaceuticals and others. Among all the types, polyethylene has accounted the largest market share in 2015, whereas packaging industry has become the leading application industry.
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.
Key Market Players
The key players in Global Commodity Plastic Market report included are BASF SE, The Dow Chemicals Company, SABIC, Arkema SA, Mitsui Chemicals, LG Chemicals and Mitsubishi Chemicals Holdings Corporation.
Target Audience
Commodity plastic producers
Traders and distributors
Association and government bodies.
Application industries
Plastic manufacturers
Research institute
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Global Commodity Plastic Market Share (2015) By Type
The global commodity plastic market by type has been divided into polyethylene, polyethylene, polyvinyl chloride, polyethylene terephthalate, polystyrene and other, however, polyethylene has acquired the largest market share of 31% of total market with an estimated value of USD 110.8 billion in 2016 and expected to touch USD 155.9 billion by the end of forecasted year with a CAGR of 5.58%, followed by polypropylene and polyvinyl chloride.
Polyethylene (PE) is undoubtedly one of the most popular plastic across the globe which is majorly used in the plastic industries to manufacture plastic bottles, plastic toys, and grocery bags and also in bullet proof jackets. Along with this, PE also holds a significant role in other application industries such as packaging, electronics, automotive and many others. In the global commodity plastic market, polyethylene holds a largest market share of 31% in 2016 with an estimated value of USD 110.8 billion in 2016 and is expected to reach USD 155.9 billion by 2022 at a CAGR of 5.85%. Moreover, in terms of volume, the global demand for polyethylene in 2016 was 69.9 MMT and in poised to reach 93.7 MMT by 2022 with a CAGR of 5.01%. Geographically, Asia-Pacific holds the largest market share in terms of both value and volume during the forecast period.
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