New York, According to a new market research report published by Global Insight Services “Commodity Plastics Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Commodity plastics are plastics that are mass-produced for use in a wide variety of applications. They are typically made from petroleum-based feedstocks, and their properties are determined by the additives that are used during production. The most common commodity plastics are polyethylene, polypropylene, and polystyrene.
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Key Trends
The key trends in commodity plastics technology are the development of new resins and additives, the use of recycled materials, and the use of renewable resources.
The development of new resins and additives has led to the production of more durable and heat-resistant plastics. Recycled materials are being used more frequently in the production of commodity plastics, as they are more environmentally friendly and cost-effective. The use of renewable resources, such as plant-based plastics, is also becoming more common as companies strive to reduce their environmental impact.
Key Drivers
The key drivers of the commodity plastics market are the ever-increasing demand for plastics in various industries and the need for cost-effective and lightweight materials. The use of commodity plastics has increased significantly over the past few years due to their superior properties such as durability, resistance to chemicals and high temperature, and flexibility.
The automotive industry is one of the major consumers of commodity plastics. The use of plastics in automobiles helps in reducing the overall weight of the vehicle, which leads to better fuel efficiency. In addition, plastics are also used in the interiors of automobiles for a variety of applications such as dashboards, door panels, and seats.
Key Market Segments
The commodity plastics market bifurcated on the basis of product type, end user, and region. On the basis of product type, it is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS) and others. By end user it is categorized into building & construction, packing, textile, electrical & electronics and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Key Market Players
The commodity plastics market report includes players such as Exxon Mobil, Sumitomo Chemical, Eastman Chemical Company, BASF SE, Westlake Chemical, Qatar Petroleum, Indian Oil, The Dow Chemical Company, SABIC, LG Chem, and Qenos Pty.
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Reasons to buy Commodity Plastics Market Report :
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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