Commodity Plastics Market 2026: Key Players-Covestro, BASF SE, Mitsui Chemicals Inc., Eastman Chemical Corporation, INEOS

Posted September 8, 2018 by Stephenwilson

The global commodity plastics market is anticipated to reach USD 651.80 billion by 2026 according to a new study published by Polaris Market Research

The global commodity plastics market is anticipated to reach USD 651.80 billion by 2026 according to a new study published by Polaris Market Research

The global commodity plastics market is projected to reach USD 65.80 by 2026. The primary factors driving the market growth are the rapid increase in demand from packing industry, along with the significant improvement in the disposable income of a larger section of the population especially in emerging nations. Moreover, there are few more other factors such as significant augmentation in the price of metal elements, and accelerating growth in the manufacturing of lightweight electric vehicles (EVs) are highly responsible for driving the market growth.

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Commodity plastics are usually demanded in large volumes, and find a wide array of applications across various industries. They are widely utilized for packaging, photography, garbage containers, magnetic tapes, and clothing, among others. They find application across various industries including consumer goods, manufacturing, automotive, packaging, construction, electronics, pharmaceutical, and textiles, among other industries.

A variety of products types are available in the market such as polyethylene (PE), polystyrene (PS), polymethyl methacrylate (PMMA), polyethylene terephthalate (PET), polyvinyl chloride (PVC), and polypropylene (PP), among others. Among these, polyethylene (PE) is the most widely used type. It is used in plastic bags, kitchenware, water pipes, bottles, and chemical containers, among other applications. Moreover, their easy availability and considerably low processing cost make them the most preferred choice.

The Asia Pacific holds a significant position in the market and is expected to emerge as the fastest growing regional market, due to increasing demand for plastics for packaging purpose. The region comprises some of the world’s top manufacturing hubs and emerging nations such as China, India, and Thailand, among others. Rising standards of living of the middle-class society have resulted in considerable increase in demand. The middle-class consumers are now seeking for high standards of living, and are anticipated to spend heavily on packaged goods, automobile, clothing, and electronic appliances, among others.

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The industry comprises of numerous players operating in the market and making it quite fragmented. However, some active industry players include Exxon Mobil Corporation, China Petroleum & Chemical Corporation (Sinopec), The Dow Chemicals, BASF SE, SABIC, LG Chem Ltd., Sumitomo Chemical Co., Ltd., LyondellBasell Industries N.V., INEOS, Formosa Plastics Corporation, and Mitsubishi Chemical Corporation, among others.

Industry players are observed positioning their manufacturing facilities in regions such as Asia Pacific, Latin America, and Africa as these regions allow them to cater a large customer base with minimum transportation, production, and shipment cost. Moreover, they are increasingly making strategic investments, and building facilities, commercial as well as technical resources to strengthen their market position throughout the world. Furthermore, the players are quite aware of the fact that the industry dynamics are transitional; as a consequence, they always make sure to keep their supply chain capabilities flexible, and integrate it with their operations in order to tackle the hurdles faced during changing market scenarios.

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About us 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.
We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.
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Tags Commodity Plastics size , Commodity Plastics share , Commodity Plastics forecast , Commodity Plastics trends , Commodity Plastics growth , Commodity Plastics analysis , Commodity Plastics research
Last Updated September 8, 2018