Commodity Plastic Market – Developments and trends, Potential of the Market from 2017-2022

Global Commodity Plastic Market Information - by type (Polyethylene, Polypropylene, Polypropylene, Polyethylene Terephthalate, Polystyrene and others), by application (Packaging, Consumer Goods, Electronics, Automotive, Textile, Pharmaceuticals and others) and by Region - Forecast to 2022

Pune, India - September 27, 2017 /MarketersMedia/ —

Market Highlights
Globally, the commodity plastic industry is witnessing moderate growth in the sluggish market conditions. Market conditions in most of the developed economies including the U.S., Europe, Japan and others have reached the maturity stage of the market life cycle. In order to ward off threats such as falling sales, most of the companies are turning to regions that offer them sustained demand. Major challenges for global commodity plastic manufacturers include economic uncertainty, rising prices of raw material, volatile U.S. dollar, slow economic growth, decline in automotive production, shortage of raw materials, and reduction in consumer expenditure. The reduction in global production among large industrial customers operating in major end-user industries.

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Key Findings
• Global commodity plastic market is projected to reach USD 493.1 billion by 2022 with 5.56% CAGR during review period of 2016-2022
• Asia-Pacific accounted for largest share due to growing application industries in this region
• Among types, polyethylene has acquired the market share of 31% in 2015 with the market value of USD 105.4 billion growing at a CAGR of 5.85% till forecast period.
• Among applications, packaging industry emerged as the leading application industry in global commodity plastic market.

Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Commodity Plastic Market Research Report – Forecast, 2016-2022”

Key Market Players
• BASF SE,
• The Dow Chemicals Company,
• SABIC,
• Arkema SA,
• Mitsui Chemicals,
• LG Chemicals
• Mitsubishi Chemicals Holdings Corporation.

Regional Analysis
The APAC region is the largest consumer of commodity plastic in the world; accounted 47% of commodity plastic market in 2015. Within the APAC region, the commodity plastic market is dominated by China which represents 45% of the total market volume in 2015. Demand for commodity plastic from India accounted for 23% of the total demand, while Japan represents 21% of the market in terms of volume. Because of its strong, growing middle class, the entire region is a significant market for end markets that use commodity plastic, including packaging, consumer goods and FMCG and textile. Japan, Australia, and South Korea are the most developed countries in the APAC region and have mature growth outlooks.
China is the one of the largest economy in the world and is still growing at a rapid pace. China is making deliberate efforts to boost various industries including packaging, consumer good, retail, automotive, automotive and consumer products; growing industrial activity has resulted in increasing demand for commodity plastic. Currently, China is the single largest market for commodity plastic, accounting more than 45% of the total market in APAC.

Although new environmental regulations and the protection of forest resources by the Chinese government are affecting the Chinese commodity plastic market. Moreover, the recession had little impact on various end markets for commodity plastic in China, including packaging, automotive, FMCG and others which continue to drive demand for commodity plastic.

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