Commodity plastics market to grow by USD 159.09 billion from 2022 to 2027, BASF SE, Braskem SA, Chevron Corp., and more among key companies- Technavio

NEW YORK, Oct. 23, 2023 /PRNewswire/ -- The commodity plastics market size is expected to grow by USD 159.09 billion from 2022 to 2027. In addition, the growth momentum of the market will be progressing at a CAGR of 6.11% during the forecast period, according to Technavio. Increasing demand for packaging material is notably driving the commodity plastics market. However, factors such as stringent regulations over the usage of plastics may impede market growth. The market is segmented by product (polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polyethylene terephthalate (PET), and polyethylene terephthalate (PS)), application (packaging, consumer goods, electronics, automotive, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.

We provide a detailed analysis of 20 companies operating in the commodity plastics market including BASF SE, Braskem SA, Chevron Corp., Covestro AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Group, Hanwha Corp., INEOS Group Holdings SA, LG Chem Ltd., Lotte Chemical Corp., LyondellBasell Industries NV, Mitsubishi Chemical Corp., OMV Aktiengesellschaft, PTT Global Chemical Public Co. Ltd., Reliance Industries Ltd., Saudi Basic Industries Corp., Sumitomo Chemical Co. Ltd., and TotalEnergies SE. 

Commodity Plastics Market 2023-2027: Company Analysis

• BASF SE: The company provides different types of commodity plastics for footwear, automotive, and electronic applications. 

This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information

Commodity Plastics Market 2023-2027: Segmentation

• Product

The market share growth by the polyethylene (PE) segment will be significant during the forecast period. Polyethylene (PE) is a light, long-lasting thermoplastic with a varying crystal structure. It is one of the most typically manufactured plastics across the globe. Polyethylene packaging refers to the technology of packaging or enclosing products to protect them from the external environment for the purpose of storage, distribution, and sale. 

• Geography 

APAC accounts for 32% of market growth during the forecast period. Emerging markets such as China and India are expected to be significant revenue contributors to the market in this region. This is mainly due to the steadily growing e-commerce, fast-moving consumer packaged goods (FMCG), consumer electronics, and personal care end-use industries.
 

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View FREE PDF Sample Report

Related Reports:

The plastic market is estimated to grow at a CAGR of 6.27% between 2022 and 2027. The size of the market is forecast to increase by USD 214.81 billion.

The compostable plastic market size is estimated to grow at a CAGR of 15.54% between 2022 and 2027. The market size is forecast to increase by USD 1,905.33 million.

ToC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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