The Commodity Plastics Global Market Report 2023, provides comprehensive information on the commodity plastics market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Commodity Plastics Global Market Report 2023, the market size is expected to grow from $465.38 billion in 2022 to $498.49 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of commodity plastics is expected to grow to $637.15 billion in 2027 at a CAGR of 6.3%.
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Product advancement is a key trend gaining popularity in the commodity plastics market. Major market players are focusing on technological advancements to sustain their position in the commodity plastics market. For instance, in August 2021, Krehalon, a Netherlands based packaging company, launched the KreCycleTM to meet the demand for more sustainable packaging options, as well as a portfolio of conveniently recyclable high barrier flexible films for fresh food applications. The KreCycleTM product line includes polyester (PET), polyethylene (PE), and polypropylene (PP) based solutions with customized barrier qualities to meet the needs of specific applications. It is perfect for packaging fresh protein products such as red meat, poultry, processed meat, fish, and hard cheese. Flexible thermoforming films, flowrap films with a high barrier option, lidding films, and vacuum pouches are among the products available. For the convenience of the consumer, there are additional lock and peel seal options.
The commodity plastics market is segmented:
1) By Type: Polyethylene (PE), Polypropylene (PP), Polyvinyl Chloride (PVC), Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), Polyethylene Terephthalate (PET), Poly (Methyl Methacrylate) (PMMA)
2) By Plastic Type: Reusable, Recyclable
3) By End-User: Packaging, Construction, Consumer Goods, Automotive, Electronics, Textiles, Medical and Pharmaceutical, Other End Use Industry
Asia-Pacific was the largest region in the commodity plastics market in 2022.
The table of contents in TBRC’s commodity plastics market report includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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