Global Commodity Plastics Market is expected to reach at a CAGR of 4.3% in the forecast period of 2018 to 2025. The new market report contains data for historic year 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Commodity plastics is the types of plastics that are used in a wide variety of applications and have day to day usage. Most of the commodity plastics has billions of applications; most prominent are packaging, electronics, automobiles and healthcare. Most commonly commodity plastics resins are transformed into sheets & films for further use. Some plastics such as Polyethylene Terephthalate (PET) are directly molded in bottles and other forms.
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Some of the prominent participants operating in this market are Exxon Mobil, Sinopec Corporation, Chevron Phillips Chemical Company, Basf SE, DowDuPont, Lyondellbasell Industries Holdings B.V., Borealis AG, Braskem, Eni S.P.A, Formosa Plastics Corporation, Gas Authority of India Limited(GAIL), Hanwha Co. Ltd, Indian Oil Corporation, Ineos, LG Chem, Ltd., Lotte Chemical, Mitsubishi Chemical Corporation, Nova Chemicals Corporation, PTT Global Chemical Public Company Limited, Qatar Petroleum, Qenos Pty Ltd, Reliance Industries Limited, Sabic, Sumitomo Chemical Company Limited, Westlake Chemical Corporation among others.
Major growing sectors under the market segmentation are as follows:
- In product type, the polyethylene commodity plastics are highly used because these commodity plastics can be used for various packaging and consumer goods applications. These can be used in almost all the types of single-use and multiple-use packaging products. Because of this polyethylene commodity plastics are growing at the highest CAGR.
- In type polyvinyl chloride commodity plastics are growing at a decent CAGR because the buildings and construction projects requires pipes which are usually manufactured from polyvinyl chloride.
- In type, high-density polyethylene is growing with highest CAGR rate because of growing applications in electronics packaging and automotive industry.
- In application, packaging is growing with highest CAGR because of the growing usage of cereal box liners, milk jugs and industrial & household chemical containers.
- In application, automotive segment is growing at a decent CAGR because of growing replacement market for air dams, rocker panels and car bumpers.
The Commodity plastic market is segmented into three notable segments such as Product type, Application and Geography.
- On the basis of product type, the market is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), polymethyl methacrylate (PMMA), and others. Polyethylene is further sub-segmented into HDPE, LDPE, LLDPE, UHMW, and polyethylene terephthalate (PET). Polyvinyl chloride (PVC) is further segmented into rigid PVC and flexible PVC. Polypropylene (PP) is further segmented into polypropylene homo-polymers (PPH) and polypropylene co-polymers (PPC).
- On the basis of application, the market is segmented into packaging, automotive, electronics, consumer goods, construction, textile, medical & pharmaceutical and others. Packaging is further segmented into film wraps, plastic bags, industrial & household chemical containers, milk jugs, cereal box liners, others. Automotive is further segmented into air dams, car bumpers, rocker panels, consoles, grilles, others. Electronics is further segmented into telecommunications, semiconductors, electronic components, displays, others. Consumer goods is further segmented into food storage containers, weather-resistant clothing, indoor-outdoor carpeting, utensils, others. Constructions are sub-segmented into doors, roofing, flooring, wall covering, piping, window covering, insulation and others. The textiles are sub-segmented into fibres & fabrics and others. The medical & pharmaceutical is sub-segmented into medical or laboratory tools, pharmacy prescription bottles, therapeutic systems, surgical equipment and others.
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