Global Plastics Market was worth USD 381.83 billion in 2013. Plastics are synthetic or semi-synthetic organic solids which are cast or changed to various valuable products. Plastics are generally organic polymers which occur naturally or sometimes, are derivatives of petrochemicals. The global industry is administered by the application of end-use industry.
Forthcoming technologies which recycle plastics are
projected to be the major driving force behind the growth of global market. Key
manufacturers of plastics are investing into joint ventures and pooling
resources with biotechnology companies so as to produce bio-based plastics.
Polyethylene was the largest plastic type which accounted
for over 30% of the market in 2013. Growing demand from several end-use sectors
including injection molding, food & beverage packaging, film/sheet and
pipes led to the high market share. Several disposal norms and environmental
regulations are projected to create major hindrances for the global
polyethylene market. Polyethylene terephthalate (PET) plastic type is likely to
witness significant gains at a CAGR of 8.5% from 2014 to 2020. The packaging
industry of carbonated soft drinks is witnessing an increased demand for PET
type of plastic. This growing demand is anticipated to drive the global market
over the next few years.
Full Research Report on Global Plastics market Analysis:
PET application in films and sheets accounted for over 40%
of the overall share in 2013. Films and sheets are majorly used in
pharmaceuticals and food packaging industry. This is expected to drive its huge
demand. Application in plastic pipes is anticipated to witness the substantial
gains, at an anticipated CAGR of 5.7% from 2014 to 2020. Factors such as the
increase in construction activities, rising population levels, increasing rate
of urbanization, infrastructural development and replacement of old pipes made
with outdated materials are expected to drive the demand for plastic pipes
application.
Asia Pacific contributed to over 40% of the global plastics
market in 2013. Emerging economies of India and China are witnessing a
significant increase in key end-use industries. This is projected to provide
the region with an upper hand in the near future. Central & South American
plastics market is expected to exhibit the highest growth rate, an anticipated
CAGR of 6.3% from 2014 to 2020. The increase in construction and automobiles
industry in Argentina and Brazil is likely to be the driving factor for
plastics demand in this region.
The global market is integrated with a few companies
dominating the market. Major players in the plastic market include Dow Chemicals,
BASF SE, Saudi Basic Industries Corporation and E.I. du Pont de Nemours and
Company. Other players in the market include ExxonMobil, Total SA, Indorama
Corp., M&G Chemicals, Nan Ya Plastics, LyondellBesell, Formosa Plastic,
Bayer Material Science, DAK Americas and Octal Petrochem.
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this category by Grand View Research at: http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
Grand View Research
has segmented the Global Plastics Market on the basis of product, application
and region:
Global Plastics Product Outlook
(Volume, Million Tons; Revenue, USD Million, 2012 - 2020)
• Polyethylene
(PE)
• Polypropylene
(PP)
• PVC
• PET
• Polystyrene
• Engineering
Plastics
Global Plastics Regional Outlook (Volume, Million Tons; Revenue, USD
Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• Middle East
& Africa
• Central and
South America
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Research:
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