Commodity Plastics Market Strategies and Forecast by 2031

MARKET INTRODUCTION

The commodity plastics refer to plastics used in large volume for regular household applications. These plastics find use in a wide range of applications such as clothing, trash containers, disposables, packaging film, and others. Commodity plastics are not used in critical service environments and therefore, do not require high mechanical strength. Therefore, these plastics are relatively inexpensive and exhibit lower mechanical properties than engineered plastics. Some examples of commodity plastics include polyethylene (PE), polyvinyl chloride (PVC), and polypropylene (PP). These plastics are widely used to manufacture cups, plates, trays, printed materials, toys, and other household products.

MARKET DYNAMICS

The commodity plastics market is anticipated to grow in the forecast period owing to driving factors such as the rising disposable income of the population coupled with high demands for consumer goods. Moreover, demands from the thriving packaging industry and increasing production of lightweight electric vehicles further fuel the growth of the commodity plastics market. However, growing environmental concerns regarding the disposal of plastic waste severely hamper the growth of the commodity plastics market. On the other hand, untapped markets of developing countries offer significant growth opportunities for the major players involved in the commodity plastics market during the forecast period.

MARKET SCOPE

The "Global Commodity Plastics Market Analysis to 2031" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of commodity plastics market with detailed market segmentation by type, end-use industry, and geography. The global commodity plastics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading commodity plastics market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global commodity plastics market is segmented on the basis of type and end-use industry. Based on type, the market is segmented as polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), poly(methyl methacrylate) (PMMA), and others. On the basis of the end-use industry, the market is segmented as packaging, automotive, electrical & electronics, consumer goods, building & construction, textile, medical & pharmaceutical, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global commodity plastics market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The commodity plastics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting commodity plastics market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the commodity plastics market in these regions.

MARKET PLAYERS

The reports cover key developments in the commodity plastics market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from commodity plastics market are anticipated to lucrative growth opportunities in the future with the rising demand for commodity plastics in the global market. Below mentioned is the list of few companies engaged in the commodity plastics market.

The report also includes the profiles of key commodity plastics companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

• BASF SE
• Exxon Mobil Corporation
• Formosa Plastics Corporation
• INEOS AG
• LG Chem, Ltd.
• LyondellBasell Industries Holdings B.V.
• Mitsubishi Chemical Corporation
• SABIC
• Sinopec Corp.
• Sumitomo Chemical Company

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Commodity Plastics Report Scope