Global plastics market was worth USD 381.83 billion in 2013. Plastics
are synthetic or semi-synthetic organic solids which are cast or changed to
various valuable products. Plastics are generally organic polymers which occur
naturally or sometimes, are derivatives of petrochemicals. The global industry
is administered by the application of end-use industry.
Forthcoming technologies which recycle plastics
are projected to be the major driving force behind the growth of global market.
Key manufacturers of plastics are investing into joint ventures and pooling
resources with biotechnology companies so as to produce bio-based plastics.
Polyethylene was the largest plastic type which
accounted for over 30% of the market in 2013. Growing demand from several
end-use sectors including injection molding, food & beverage packaging,
film/sheet and pipes led to the high market share. Several disposal norms and
environmental regulations are projected to create major hindrances for the
global polyethylene market. Polyethylene terephthalate (PET) plastic type is
likely to witness significant gains at a CAGR of 8.5% from 2014 to 2020. The
packaging industry of carbonated soft drinks is witnessing an increased demand
for PET type of plastic. This growing demand is anticipated to drive the global
market over the next few years.
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summary of this report @ http://www.grandviewresearch.com/industry-analysis/global-plastics-market
Further key findings from the report
suggest:
·
PET application in films and sheets accounted
for over 40% of the overall share in 2013. Films and sheets are majorly used in
pharmaceuticals and food packaging industry. This is expected to drive its huge
demand. Application in plastic pipes is anticipated to witness the substantial
gains, at an anticipated CAGR of 5.7% from 2014 to 2020. Factors such as the
increase in construction activities, rising population levels, increasing rate
of urbanization, infrastructural development and replacement of old pipes made
with outdated materials are expected to drive the demand for plastic pipes
application.
·
Asia Pacific contributed to over 40% of the
global plastics market in 2013. Emerging economies of India and China are
witnessing a significant increase in key end-use industries. This is projected
to provide the region with an upper hand in the near future. Central &
South American plastics market is expected to exhibit the highest growth rate,
an anticipated CAGR of 6.3% from 2014 to 2020. The increase in construction and
automobiles industry in Argentina and Brazil is likely to be the driving factor
for plastics demand in this region.
·
The global market is integrated with a few
companies dominating the market. Major players in the plastic market include
Dow Chemicals, BASF SE, Saudi Basic Industries Corporation and E.I. du Pont de
Nemours and Company. Other players in the market include ExxonMobil, Total SA,
Indorama Corp., M&G Chemicals, Nan Ya Plastics, LyondellBesell, Formosa
Plastic, Bayer Material Science, DAK Americas and Octal Petrochem.
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Grand View Research has segmented the plastics market on the basis of product, application and region:
Global Plastics Product Outlook (Volume, Million Tons; Revenue, USD Million, 2012 - 2020)
• Polyethylene (PE)
• Polypropylene (PP)
• PVC
• PET
• Polystyrene
• Engineering Plastics
Global Plastics Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Central and South America
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