The commodity plastics market was estimated at USD 359.42 billion in 2017 and is projected to reach USD 493.74 billion by 2022,at a CAGR of 6.6% during the forecast period.
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Commodity plastics are used in various applications such as packaging, construction, consumer goods, automotive, textiles, electronics, medical & pharmaceutical, and others.
The growth of the commodity plastics market is primarily driven by their increased demand for packaging and construction applications. Commodity plastics possess excellent tensile strength and can be easily processed due to which these plastics are widely used by packaging products manufacturers.
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The demand for commodity plastics is increasing in the flexible and rigid packaging applications segment, owing to their affordable costs. However, various regulations on the use of plastics products are acting as a restraint to the growth of the commodity plastics market.
- Manufacturers of Commodity Plastics
- Traders, Distributors, and Suppliers of Commodity Plastics
- Regional Manufacturers Associations and General Chemical Associations
- Government & Regional Agencies and Research Organizations
- Investment Research Firms
The commodity plastics market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. China and India are the key markets for commodity plastics in the Asia Pacific region.
The growth of the commodity plastics market in this region can be attributed to the increased demand for commodity plastics in the packaging and construction applications.
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Increased disposable income of the middle-class families is generating the need for consumer goods such as food containers, plastic utensils, weather-resistant clothing, indoor-outdoor carpeting, and so on. Owing to the increased disposable income, the purchasing power of the middle-class families has increased.
High living standards are generating the need for consumer goods, which is further expected to drive the market for commodity plastics.
These plastics are widely preferred in consumer goods applications owing to their durability, light weight, corrosion resistance, and low cost.
2 Market Ranking
3 Competitive Scenario
3.1 Contracts, Expansions, Agreements, and Investments
3.2 Mergers, Joint Ventures, and Acquisitions
3.3 New Product Launches
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The commodity plastics market has been segmented on the basis of type, application, and region. This report covers the commodity plastics market, in terms of value and volume, and forecasts its market size till 2022.
The report also provides company profiles and competitive strategies adopted by key players in the commodity plastics market.
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