Commodity Plastic Market is expected to growth at a CAGR of 6.30% during 2023 - 2032

Overview

The global commodity plastic market, Size was valued at USD 500.9 billion in 2022. The Commodity Plastic market industry is projected to grow from USD 532.45 Billion in 2023 to USD 868.06 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.30% during the forecast period (2023 - 2032).. As per commodity plastic market analysts, the global market is anticipated to witness growth owing to the factors such as growing application of commodity plastics in end-user sectors  as well as growing demand for light weight vehicle. However, the commodity plastic market will face challenges and restraints due to unstable petrochemical prices and stringent rules and regulations during the forecast period 2023 - 2032. 

The expansion of automotive production in the commodity plastic market is set to play a key role in determining the growth potential during 2016 to 2022years. Analysts have also studied the commodity plastic market to understand potential threats and challenges the commodity plastic market companies could face. Although the commodity plastic market is poised to grow at a fast pace across applications and type segments, factors such as the imposition of stringent rules could slow down the commodity plastic market's growth worldwide.

Market Segmentation

The commodity plastic market has been segmented into applications and type. Based on the segment which is applications, the market is categorized on the basis of automotive, consumer goods, electronics, packaging, pharmaceuticals, textile, and others. The global market for commodity plastic is further segmented based on type into polyethylene, polyethylene terephthalate, polypropylene, polypropylene, polystyrene, and others.

The global commodity plastic market research report covers all the aspects of the commodity plastic market based on the segmental analysis of these applications and type segments. Analysts have also studied the global commodity plastic market's regional markets spread across many continents and countries. The applications and type segments along with their sub-segments have been analyzed and companies functioning in the commodity plastic market across these segments are profiled and analyzed based on input and feedback from commodity plastic market based decision makers as well as primary and secondary sources. The commodity plastic market research report presents analysis based information for companies functioning in the commodity plastic market.

Regional Overview

Fluctuations in the price of petrochemicals may hinder the commodity plastic market growth. The market research report suggests that companies in the commodity plastic market could be supported by extensive applications of plastics in the packaging and other sectors as well as the growing need for packaging bottles during the forecast period. The commodity plastic market is set to register growth at a high CAGR owing to these key factors. The commodity plastic market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global commodity plastic market research report reveals that APAC, North America, and Europe regional commodity plastic markets will dominate the global market for commodity plastic during the forecast period 2022-2030. As per commodity plastic market analysts, the market is set to witness tremendous growth across polyethylene and polypropylene segments in North America which covers commodity plastic markets across the United States, Canada, Mexico and several other regional markets. Companies active in the commodity plastic market are also analyzed and studied in the commodity plastic market research report.

The commodity plastic market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the commodity plastic market research report covers the Asia-Pacific region covering commodity plastic markets from India, China, Japan, Australia, and others. The commodity plastic market is also spread across the rest of the world. The commodity plastic market report covers all such regions including the Middle East, Africa, Brazil, and others.

Competitive Landscape

Commodity plastic has seen increased demand over the years, due to commodity plastic market development and demand for light vehicles. Companies functioning in the global commodity plastic market are also being challenged due to growing awareness about the toxic impact and growing concerns for environmental impact of plastic. Mergers and acquisitions by commodity plastic market companies are anticipated to help the market during the forecast period 2022-2030. As the commodity plastic market is set to register a high CAGR of 6.30% and is also anticipated to reach a USD 439 billion by 2021, the report highlights key areas companies need to focus on. The report suggests that the commodity plastic market will see a healthy growth in the long run till 2022. Based on SWOT analysis and commodity plastic market’s analysis based on Porters’ Five Force Model presented in the commodity plastic market report. Mergers and acquisitions by commodity plastic market companies are anticipated to help the market during the forecast period 2016 to 2022. 

Industry News 

IPL Plastics Inc. is acquired by Madison Dearborn Partners. The Board formed an independant special committee in response to numerous confidential inquiries and tentative recommendations made by private equity supporters from North America and Europe who wished to discuss the possible company privatisation transaction. The Special Committee is chairmed by Rose Hynes. It is composed, under the terms of the corporate and securities legislation, of Sharon Pel and Hugh McCutcheon, both separate from the company and the CDPQ.

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