Global Commodity Plastics Market - Forecasts from 2024 to 2029

Global Commodity Plastics Market - Forecasts from 2024 to 2029

The commodity plastics market is evaluated at US$550.637 billion for 2024 and is projected to witness a CAGR of 5.45% over the forecast period and will reach a market size of US$718.127 billion by 2029.

Commodity plastics refer to plastics that are used in several different industries. Some examples of commodity plastics include Polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), Polystyrene (PS), and poly (methyl methacrylate) (PMMA). Among these, PE is the primary driving segment behind the growth of the commodity plastics market. This is due to anticipated growth in the consumer goods and packaging industry’s utilization of PE and PVC, readily available sources, low processing costs, and its ability to be molded into different shapes while being colorless. Additionally, standard plastics have recently been relieving industries of the metal required for important components with higher tensile strength, lower cost, greater accessibility, and ease of processing.

GLOBAL COMMODITY PLASTICS MARKET TRENDS:

With an increase in disposable income, particularly in developing countries, combined with rapid urbanization and the growing use of e-commerce, the demand for consumer goods has grown, boosting the commodity plastics market. In line with this, e-commerce is experiencing growth in India owing to factors such as consumer mobile internet use, growing affluence, and affordable data tariffs, which are fuelling the growth of e-retail. India is the second-largest internet market in the world, with roughly 950 million users and 131.16 lakh Cr UPI transactions in FY 2023–2024.

GLOBAL COMMODITY PLASTICS MARKET GEOGRAPHICAL OUTLOOK:

Asia Pacific’s commodity plastics market is anticipated to grow significantly.

The APAC region holds a significant share of the global market of the commodity plastics. This market is expected to grow due to an increase in population and demand for packaging materials, especially in the pharmaceutical sector. The India Packaging Market is projected to grow at a compound annual growth rate (CAGR) of 26.7% from 2020 to 2025, reaching a value of $ 204.81 billion. The flattened cans, printed sheets and components, lug caps, crown cork, plastic film laminates, craft paper, paper board, and packaging machinery are some of the products that have made the Indian packaging sector known. Nonetheless, tinplate, coating and lining compounds, and other products are among the imports.

In addition, over the past 30 years, China's pharmaceutical manufacturing industry has grown rapidly, but the country's medical regulatory system has not kept up with this fast expansion. China has acknowledged this and is now placing a strong emphasis on bolstering that framework in terms of rule-making and staff additions.

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Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, other sub - segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape up future market developments.
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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

The global commodity plastics market is segmented and analyzed as follows:

By Type

Polyethylene (PE)
Polypropylene (PP)
Polyvinyl Chloride (PVC)
Polystyrene (PS)
Poly (methyl methacrylate) (PMMA)

By Application

Packaging
Automotive
Electronics
Consumer goods
Others

By Geography

North America
United States
Canada
Mexico
South America
Brazil
Argentina
Rest of South America
Europe
United Kingdom
Germany
France
Italy
Spain
Rest of Europe
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
Asia-Pacific
China
India
Japan
South Korea
Taiwan
Thailand
Indonesia
Rest of Asia-Pacific