Key Companies Covered are Borouge, LyondellBasell, Braskem, SABIC, Covestro AG, Dow, BASF SE, Reliance Industries Limited, INEOS, ExxonMobil Chemical, China Petroleum Corporation, Inoac Corporation, Total S.A, DuPont, Formosa Plastics Group and Other key players included in plastics market research report.
Pune, Feb. 14, 2020 (GLOBE NEWSWIRE) -- The global Plastics Market size is anticipated to gain momentum from the rising initiatives by the manufacturers to adopt renewable sources for making plastics. At the same time, the governments of various countries are conducting awareness programs regarding the environmental hazards taking place because of the usage of plastics.
Hence, companies are mainly producing recyclable plastics. This information is published by Fortune Business Insights™, in a recent report, titled, “Plastics Market Size, Share & Industry Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, and Others), By End-Use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Textile, and Others), and Regional Forecast, 2019-2026.” The report further mentions that the Plastics Market size is projected to reach USD 647.48 billion by 2026, thereby exhibiting a CAGR of 4.9% during the forecast period. However, it stood at USD 441.55 billion in 2018.
Highlights of the Report
- Country-wise analysis of significant geographical regions.
- Extensive analysis of polymers market expansion and market-entry strategies.
- Competitive landscape, such as new product launches, agreements, contracts, investments, strategic collaborations, and mergers and acquisitions.
- In-depth information about the Plastics Market trends, opportunities, challenges, growth drivers, and barriers.
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Increasing Demand from Food & Beverage Industry to Accelerate Growth
In several industries, namely, consumer goods, automotive, food & beverage, and electrical & electronics, the demand for plastics is increasing at a rapid rate. Above all, in the food & beverage industry, plastics are used at a large scale because of the increasing demand for packaging materials. As per one of our lead analysts, “Plastics are capable of acting as the stumbling blocks between the external environment and the food items. Therefore, the existing manufacturers are inclining more towards enhanced plastic packaging to reduce quality degradation and possibility of food contamination.” These factors are set to drive the Plastics Market growth during the forthcoming years.
Fortune Business Insights™ lists out some of the most renowned companies present in the Plastics Market. They are as follows:
- Covestro AG
- BASF SE
- Reliance Industries Limited
- ExxonMobil Chemical
- China Petroleum Corporation
- Inoac Corporation
- Total S.A.
- Formosa Plastics Group
- Other key players
Get a detailed summary of Plastics Market insights: https://www.fortunebusinessinsights.com/plastics-market-102176
Availability of Cost-effective Raw Materials to Favor Growth in Asia Pacific
In terms of region, the polymers market is grouped into Latin America, the Middle East and Africa, North America, Asia Pacific, and Europe. Amongst these, North America acquired USD 72.90 billion Plastics Market revenue in 2018 and is likely to showcase significant growth throughout the forecast period. This growth is attributable to the increasing demand for plastics in the U.S. from industries, namely, healthcare & pharmaceuticals, automotive, packaging, and more. Europe is expected to experience considerable growth in the near future on account of the high demand for plastics from the infrastructure & construction industry.
Asia Pacific, on the other hand, is likely to be the fastest-growing region owing to the large consumption of plastics by India and China. China would lead because of the availability of raw materials at lower rates in this country. It is, in turn, minimizing the hindrances involved in the plastic production process. Apart from that, the demand for plastics from the consumer goods industry is skyrocketing because of their increasing usage in the production of textiles, toys, and sports goods.
Nestlé Invests to Boost Packaging Innovation; ExxonMobil Expands Production of Polyethylene
The market houses multiple companies that are operating in various parts of the world. They are trying to gain the maximum Plastics Market share during the forecast period by focusing either on facility expansion or investing huge sums to refine their products.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key Insights
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Polyethylene Terephthalate
- Polyvinyl Chloride
- Acrylonitrile Butadiene Styrene
- Market Analysis, Insights and Forecast – By End-Use Industry
- Infrastructure & Construction
- Consumer Goods/Lifestyle
- Healthcare & Pharmaceuticals
- Electrical & Electronics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Latin America
- Middle East & Africa
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Below are two of the latest key developments:
- January 2020: Nestlé, a multinational food and drink processing conglomerate corporation based in Switzerland, is planning to invest approximately CHF 2 billion to shift to food-grade recycled plastics from virgin plastics. It would upsurge the development of unique sustainable packaging solutions. Besides, the company would cut off the usage of virgin plastics by one third till the year 2025. At the same time, it is working persistently to clean up the plastic waste from rivers, lakes, and oceans.
- July 2019: ExxonMobil, a multinational oil and gas corporation headquartered in Texas, declared that it has initiated the production of a high-performance polyethylene line at its polyethylene plant situated in Beaumont. The expansion is set to boost the plant production capacity by 650,000 tons per year. As per the company, this expansion would help it in meeting the ever-increasing demand for polyethylene, especially high-performance products utilized for agricultural films, construction liners, and liquid and food packaging.
Have a Look at Related Market Insights:
Automotive Plastics Market Size, Share & Industry Analysis, By Type (Polypropylene, Polyurethane, Polyamide, Polyvinylchloride, Acrylonitrile Butadiene Styrene, Polycarbonate, Polyethylene, and Others), By Application (Interior, Exterior, and Under Bonnet), and Regional Forecast, 2019-2026
Adhesives & Sealants Market Size, Share & Industry Analysis, By Adhesive Technology (Water-Based, Solvent-Based, Hot-Melt, Reactive And Others), By Adhesive Application (Paper & Packaging, Building & Construction, Woodworking, Consumer/DIY, Automotive & Transportation, Leather & Footwear And Others), By Resin (Silicone, Polyurethane, Plastisol, Emulsion, Polysulfide, Butyl And Others), By Sealant Application (Building & Construction, Automotive & Transportation, Consumer And Others), and Regional Forecast, 2019-2026
Polyethylene Terephthalate (PET) Market Size, Share & Industry Analysis, By Grade (Textile, Bottle, Film), By End-Use Industry (Packaging, Textiles, Automotive, Electrical and electronics) and Regional Forecast, 2019-2026
Powder Coatings Market Size, Share & Industry Analysis, By Type (Thermoplastics, Thermoset), By Application (Consumer Appliances, Industrial, Automobile, Architectural, Furniture, Others) Others and Regional Forecast, 2019-2026
Polyethylene (PE) Market Size, Share & Industry Analysis, By Type (HDPE, LDPE, LLDPE), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Agriculture, Others), and Regional Forecast 2019-2026
Polypropylene (PP) Market Size, Share & Industry Analysis, By Type (Homopolymer, Copolymer), By End User (Packaging, Automotive, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics, Agriculture, Others), and Regional Forecast 2019-2026
Polymer Foam Market Size, Share & Industry Analysis, By Type (Polyurethane (PU), Polystyrene (PS), Polyethylene (PE), Polyvinyl Chloride (PVC) and Others), By Application (Automotive, Building & Construction, Packaging, Furniture, Appliances, Apparel and Others), and Regional Forecast, 2019-2026
Blow Molded Plastics Market Size, Share & Industry Analysis, By Resin (Polyethylene Terephthalate (PET), Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), and Others), By Molding Method (Extrusion Blow Molding, Injection Blow Molding, Stretch Blow Molding, Rotational Blow Molding), By Application (Transportation, Packaging, Building & Construction, Electrical & Electronics), and Regional Forecast 2019-2026
Polyurethane (PU) Market Size, Share & Industry Analysis, By Product Type (Rigid Foam, Flexible Foam, Molded Foam, Elastomers, Adhesives & Sealants, Coatings, and Others), By Application (Furniture, Construction, Electronics, Automotive & Transportation, Packaging, Footwear, and Others), and Regional Forecast 2019-2026
Food Packaging Market Size, Share & Industry Analysis, By Materials (Glass, Metal, Paper & Paperboard, Wood, and Plastics [Polypropylene, Polyethylene, PET, and Others]), By Product (Rigid, Semi-Rigid, and Flexible) By Application (Fruits & Vegetables, Bakery & Confectionery, Dairy Products, Meat, Poultry & Seafood, Sauces, Dressings and Condiments, and Others), and Regional Forecast, 2019-2026
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Read Press Release on Plastics Market Research Report: https://www.fortunebusinessinsights.com/press-release/plastics-market-9586