Plastic Market Analysis
Plastics are a wide range of synthetic or semi-synthetic organic compounds that are malleable and can be molded into solid objects. They are used in industrial film and microfilms to make polymers, resins, and rubber. The raw materials used to create most plastics are derived from oil, petroleum or oil, and natural gas, which are known as petrochemicals. Depending on their malleability and flexibility, plastic can be classified as polymers and thermoplastics. It depends on their chemical structure and the unit of cells that make up the polymer and the bone curtains back. Other important categories include acrylics, tubes, silicones, and polyurethanes. Depending on the physical characteristics and performance characteristics as well as durability, plastic products can be used in industrial or commercial applications. Plastic prints are used to make many fabrics and tarpaulin, holograms, and liquid crystal shows. Silicones are used to make sealants, adhesives, lubricants or inserts. Polyurethanes are used to make threads, seals, carpet moldings, adhesives, and hard plastic parts of electrical appliances. Halogenated plastics are used as solvents, pesticides, and fire-resistant oils.
COVID-19 scenario analysis:
- The outbreak of COVID-19 has disrupted the need for plastics in a variety of industries, including construction, automobiles, electronics, and consumer goods.
- The pandemic has caused production shutdowns, supply & travel restrictions, and the global recession.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The introduction of polyethylene terephthalate (PET) and high-quality polyethylene (HDPE) has increased plastic packaging. This has significantly increased the demand for plastics in packaging industry, thereby driving the growth of the global plastic market.
The applications of plastic in fluid packaging components are also increasing. High-density polyethylene plastic bottles are among the popular packaging options for milk and fresh juice products. Therefore, the demand for plastics is increasing day by day for packaging of products.
With the increase in demand for bottled water, the demand for plastics is increasing, thus driving the market. Increasing government spending, especially in China and India, is expected to increase the demand for plastics in infrastructure and building applications due to high investments from these countries.
Plastic materials mainly work due to their versatility, efficiency, and durability. Based on the type of material, plastics can be of different grades and combinations of various materials such as polyethylene, polypropylene, poly vinyl chloride, and others.
Key benefits of the report:
- This study presents the analytical depiction of the global plastic market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global plastic market share.
- The current market is quantitatively analyzed to highlight the global plastic market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the plastic market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Plastic Market Report Highlights
By Industry Vertical
Key Market Players
Toray Industries, Inc., BASF SE, Mitsui & Co. Plastics, Arkema, Eastman Chemical Company, Formosa Plastics Corporation, Lotte Chemical Corporation, Covestro AG, Celanese Corporation, DuPont de Nemours, Inc, Chevron Phillips Chemical Co.LLC, Exxon Mobil Corporation, SABIC, Sumitomo Chemical Co., Ltd., Evonik Industries, Dow Inc.