Commodity Plastics Market: Current Analysis and Forecast (2022-2028)

Report Description

The global Commodity Plastics Market is expected to grow at a significant rate of around 6% during the forecast period. Factors that are positively influencing the market demand for commodity plastics are the growing demand use of plastics in the packaging industry as well as other end-use industries with multiple applications, such as packaging, photographic, electronics, and pharmaceuticals, and the increase in demand for consumer goods. In addition, commodity plastics are entire families of products made of a particular polymer. Commodity plastics are plastics that are inexpensive and do not possess any exceptional mechanical properties. Such plastics are produced in large volumes for a wide spectrum of applications such as food packaging and storage, household products, and carry bags. In addition, they exhibit relatively weak mechanical properties

Exxon Mobil Corporation, The Dow Chemical Company, BASF SE, Reliance Industries, Sinopec, Mitsubishi Chemical, Nova Chemicals, Sumitomo Chemical, LyondellBasell, Chevron Phillips Chemical.

Insights Presented in the Report

“Amongst type, Polypropylene (PP) category to witness robust CAGR during the forecast period”

Based on type, the commodity plastics market is segmented into polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate (PET), poly (methyl methacrylate) (PMMA). Polypropylene (PP) caters substantial share of the market. As it is one of the cheapest thermoplastics and caters to a considerable share of global plastics materials consumption. Also, owing to its low price, ease of processing, chemically inertness, and many other attractive properties, it has replaced metals, glass, wood, cellophane, and paper in countless applications.

“Amongst end-user, packaging segment to hold a significant share in the market in 2020”

Based on end-user, the commodity plastics market is classified into oil & gas, manufacturing, healthcare/ pharmaceutical, food & beverages, energy & utility, consumer goods, metal & mining, transportation, and others. Among these, the packaging segment to hold a significant share in the market in 2020. Increasing demand for packaged food and beverages and growing demand for flexible packaging are some major factors driving revenue growth of this segment. Furthermore, the development in packaging materials technology and the increasing use of renewable plastics for packaging are anticipated to propel the segment growth in the coming years.

“Asia Pacific to hold a significant share in the market”

Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the rapid growth in the e-commerce sector coupled with the increasing population and growing demand for packaged foods contributing to the growth of the market.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Commodity Plastics market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Commodity Plastics Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Commodity Plastics market were the three major steps undertaken to create and analyze the adoption of Commodity Plastics in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Commodity Plastics market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Commodity Plastics market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Commodity Plastics market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Commodity Plastics market. Further, we conducted factor analysis using dependent and independent variables such as various type, and end-user. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Commodity Plastics market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global commodity plastics market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the Commodity Plastics market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Commodity Plastics market in terms of the product offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Commodity Plastics market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, and end-user in the global Commodity Plastics market.

The main objective of the Global Commodity Plastics Market Study

The current & future market trends of the global Commodity Plastics market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Commodity Plastics market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of type, and end-user.
• Define and analysis of the regulatory framework for the Commodity Plastics
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Commodity Plastics market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the Commodity Plastics market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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