Global Commodity Plastics Market is expected to reach US$596.8 Bn by 2026 from US$339.6 Bn in 2016 at a CAGR of 5.8%. Commodity plastics market is expected to witness high growth during the forecast period due to increasing demand plastic packaging Industries from emerging Asia Pacific regions as they are low in cost and easy & fast for production of products. Commodity plastics are largely used in large volume in multiple applications, such packaging, electronics, photographic, pharmaceuticals, consumer goods, textile, automotive and in a variety of household products including plates, trays, cups, printed material, containers and other disposable items.
Commodity plastics market based on type is segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), polymethyl methacrylate (PMMA) and others. Polyethylene segment is expected to be one of the major contributors for the market growth of commodity plastics due to large demand for polyethylene commodity plastics in the packaging application.
Commodity plastics market based on application has been segmented into packaging, consumer goods, construction, automotive, electronics, textiles, medical & pharmaceutical and others. Packaging segment expected to hold one of the largest market for commodity plastics during the forecast period and is also expected to grow at a high CAGR.
Geographically, the commodity plastics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be one of the largest market for commodity plastics during the forecast period. This is due to large economic development, growing consumption of consumer goods and packaged foods and increased investments in the construction industry are factors expected to drive the growth of market in this region.
Scope of the report:
Commodity Plastics Market, by Type:
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyvinyl Chloride (PVC)
- PolyMethylMethacrylate (PMMA)
- Others
Commodity Plastics Market, by Application:
- Packaging
- Construction
- Consumer Goods
- Automotive
- Electronics
- Textile
- Medical & Pharmaceutical
- Others
Commodity Plastics Market, by Geography:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Key Players Operating in the Commodity Plastics Market:
- Dow Chemical (US)
- Exxon Mobil (US)
- SABIC (Saudi Arabia)
- BASF (Germany)
- Sinopec (China)
- LG Chem (South Korea)
- Sumitomo Chemical (Japan)
- LyondellBasell (UK)
- Ineos (Switzerland)
- Formosa Plastics (Taiwan)
- Mitsubishi Chemical (Japan)
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