Top 10 Plastics Market Overview, Outlook Analysis

By Author: Delvens
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Top 10 Plastics Market report provides the broader perspective of the market place with its comprehensive market insights and analysis which eases surviving and succeeding in the market. This market report brings into focus plentiful of factors such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis which all aids to take the business towards the growth and success. Moreover, Top 10 Plastics Market report explains better market perspective in terms of product trends, marketing strategy, future products, new geographical markets, future events, sales strategies, customer actions or behaviours. Hence, the Top 10 Plastics Market report brings into the focus, the more important aspects of the market or Chemicals & Materials industry.

Top 10 Plastics Market, by Type (Polyethylene, Polypropylene, Polystyrene, Polyethylene Terephthalate, Polyvinyl Chloride, Polycarbonate, Acrylonitrile Butadiene Styrene, Polyoxymethylene, Polyamide, Polyurethane), End-Use Industry (Building & Construction, Electronics & Consumer, Automotive, Textile, Packaging), and region ...
... (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

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Top players covered in the Top 10 Plastics Market report:

Arkema
BASF SE
Braskem
Celanese Corporation
Chevron Phillips Chemical Co., LLC
Covestro AG
Dow Inc
Ducor Petrochemicals
DuPont de Nemours, Inc
Eastman Chemical Company
Evonik Industries
Exxon Mobil Corporation
Formosa Plastic Corporation
INEOS
Lotte Chemical Corporation
Mitsui & Co. Plastic Ltd.
Reliance Industries Limited
Repsol
SABIC
Sumitomo Chemical Co., Ltd.
Toray Industries, Inc.

Top 10 Plastics Market Recent Developments:

In August 2023, A joint venture agreement was formed by the biopolymer manufacturer Braskem and SCG Chemicals to create bio-ethylene from bio-ethanol dehydration and to market Braskem's "I'm green" bio-based Polyethylene.

In June 2023, BASF set up a new polyethylene plant in Zhanjiang Verbund site in China. The brand-new facility, with a yearly capacity of 500,000 metric tons of PE, will meet China's rapidly expanding demand. In 2025, the facility is expected to begin operations.

The Top 10 Plastics Market size was estimated at USD 503.11 billion in 2023 and is projected to reach USD 777.21 billion in 2030 at a CAGR of 6.41% during the forecast period 2023-2030.

Although they generally incorporate additional materials, plastics are high molecular mass organic polymers. The majority of the time, they are synthetic and made from petrochemicals. However, the current emphasis on the environment has led to an increase in the number of plastics made from renewable resources, such as cellulosic from cotton linters and polylactic acid made from corn. Due to their comparatively low cost, simplicity of production, adaptability, and water resistance, plastics are now used in a wide variety of items. Plastic is used in everything, from basic items like paperclips to large ones like airplanes. Based on their availability and application, the top 10 most abundantly used plastics are polyethylene, polypropylene, polystyrene, polyethylene terephthalate, polyvinyl chloride, polycarbonate, acrylonitrile butadiene styrene, polyoxymethylene, polyamide and polyurethane.

Plastic consumption is being driven by the food and beverage sectors' expanding requirement for packaging materials. product manufacturers seek packaging that guards against contamination and deterioration of product quality. Demand is being fuelled by plastic's ability to act as a shield between food products and the outside world. Moreover, their increased demand in textile, electrical and electronic, automotive, and consumer goods sectors is driving the growth of the market further.

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Top 10 Plastics Market Key Findings:

Based on type, the market is segmented into polyethylene, polypropylene, polystyrene, polyethylene terephthalate, polyvinyl chloride, polycarbonate, acrylonitrile butadiene styrene, polyoxymethylene, polyamide, polyurethane. Polyethylene dominated the market in this segment owing to its extensive usage packaging, construction, electrical & electronics and construction. Moreover, the substitution of metal-based products with plastic based products is expected to drive the growth of polyethylene market further during the forecast period.

Based on end use industry, the market is segmented into building & construction, electronics & consumer, automotive, textile, packaging. Packaging dominated the market in this segment owing to the increased packaging demand from the rapidly growing food and beverages industry.

The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific is estimated to account for the largest market share during the forecast period owing to the rapidly growing construction sector, increased R&D activity, presence of major key players and easily available raw materials.

Top 10 Plastics Market Regional Analysis:

Asia Pacific to Dominate the Market

Asia Pacific is estimated to account for the largest market share during the forecast period owing to the rapidly growing construction sector and increased R&D activity within the region.

Moreover, the presence of major key players and availability of raw materials are expected to drive the growth of the market further during the forecast period.

Top 10 Plastics Market report involves use of latest tools and techniques for researching, analyzing and gathering of data and information. The market analysis here includes competitive study, product information analysis, applications, and region-wise analysis, competitor landscape, consumption and revenue study, cost structure analysis, price evaluation and revenue analysis up to 2030. This Top 10 Plastics Market report performs systematic gathering, recording and analysis of data about the issues related to the marketing of goods and services and serves the businesses with an excellent market research report. The global Top 10 Plastics Market report provides smart solutions to the complex business challenges and commences an effortless decision-making process.

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