0 items USD 0.00Plastics
The plastic industry will maintain a steady rate of growth which is expected around 7.35% CAGR. Currently, only around 9% of extracted oil is used to make plastics. Leading Chemical Companies such as Exxon Mobile and Shell are investing millions in increasing their productive capacities Based on growth projections the IEA expects plastics to account for around 45% of total oil demand growth, becoming the largest growth driver.
1 . Plastic Market SWOT Analysis
Strengths:
- Plastics are versatile and can be molded into a wide variety of shapes and sizes, making them useful in a wide range of applications.
- Plastics are durable and resistant to many chemicals, making them suitable for harsh environments.
- Plastics are relatively lightweight, making them easy to transport and reducing shipping costs.
- Plastics can be easily mass-produced, which makes them cost-effective for many applications.
Weaknesses:
- Plastics are not biodegradable, which means they can take hundreds of years to break down in the environment. This can lead to pollution and waste accumulation.
- Some types of plastics release chemicals when they break down, which can be harmful to the environment and to humans.
- Recycling plastics can be difficult and expensive, particularly for non-bottle plastics. This can lead to a high level of plastic waste.
- Some plastics are not as durable as other materials, which means they may not be suitable for certain applications.
Opportunities:
- There is increasing demand for environmentally-friendly plastics and for products made from recycled plastics.
- As consumers become more aware of the environmental impacts of plastics, there may be opportunities for companies that offer sustainable alternatives to traditional plastics.
- Plastics can be used as a substitute for other materials, such as metal or wood, in a wide range of applications.
- The growing demand for single-use plastics in emerging markets presents opportunities for companies in the plastics industry.
Threats:
- Increasing regulation of plastic use and disposal, particularly in relation to plastic waste, may present challenges for the industry.
- The rise of alternative materials, such as bioplastics, may threaten traditional plastics.
- The high level of competition in the plastics industry may make it difficult for companies to differentiate their products and remain profitable.
- Fluctuating oil prices, which can impact the cost of producing plastics, may also present a threat to the industry.
2 . Plastic Industry Market Research Reports, Analysis & Trends
Plastic industry comprises companies that manufacture, produce, distribute and sell plastic products. Plastic is manufactured from synthetic organic solids to make industrial and consumer products. Plastics are commonly high molecular weight polymers with performance or structural additives that improve the material quality or reduce the production costs for the plastic. The raw materials needed to create most of the plastic material and eventually plastic products is basically derived from fossil fuels, petroleum and oil and natural gas namely and are known as petrochemicals. Renewable sources of raw materials and feed stocks for plastics production has been explored with bio-renewable sources such as cellulose, starches, oils and particularly algal oils. Plastic monomers can be either synthetic or natural organic compounds and plastics can be classified as thermo-setting polymers and thermoplastics depending upon their post-manufacturing malleability and flexibility. The plastic industry comprises companies that manufacture a range of products from, housewares, building materials, motor vehicle parts to resilient floor coverings and appliance parts.
The plastic industry is in a state of rapid growth and there have been substantial revenue generated to sustain and maintain the industry's functionality and operations to the level of self-sustaining, innovative and technologically advanced. The plastic industry, just like any other mainstream industry requires a substantial amount of capital investment, where manufacturers convert plastic resins into low-value items using high-volume mechanized production line facilities. The cost of new plant and equipment is highly significant and constant product innovation necessitates regular investment in new technology. Due to the wide range of products offered by this industry, manufacturing equipment can range in price from a few thousand dollars to many millions of dollars.
3 . Plastic Market FAQ
The market size for Plastic is projected to grow from USD 516 billion in 2021 to USD 601.5 billion by 2026.
The global Plastic market is expected to grow at a compound annual growth rate of 3.11% from 2021 to 2026.
Polyethylene held the largest share in the global plastic market with more than 23.67% in 2021.
China's growth is phenomenal and is beating market expectations. China alone controlled 8.55% market share in 2021
BASF SE, SABIC, Dow Inc, DuPont de Nemours, Inc, Evonik Industries, LyondellBasell Industries N.V., ExxonMobil Chemical, China National Petroleum Corporation, INEOS are leading plastic segment players in the world.
Increased plastic consumption in the construction, automotive, and electrical & electronics industries are driving the market.
Polyethylene (PE), Polypropylene (PP), Polyurethane (PU), Polyvinyl chloride (PVC), Polyethylene terephthalate (PET), Polystyrene (PS), Acrylonitrile butadiene styrene (ABS), Polybutylene terephthalate (PBT), Polyphenylene Oxide (PPO), Epoxy Polymers, Liquid Crystal Polymers, Polyether ether ketone (PEEK), Polycarbonate (PC), Polyamide (PA), Polysulfone (PSU), Polyphenylsulfone (PPSU) and etc. You can find all these reports in our database. Use the search option with relevant keywords.
4 . Plastic Industry Current Trends
Plastic products are used in a wide array of commercial activities from leisure and nutrition to communication and transport. Plastics are also mainly important due to their role in recycling as governments and consumers look for ways to lessen the burden on the environment. Ever since the environmental hazardous awareness campaigns have been made and announced and broadcast over the last few years, the plastic industry has been more careful and cautious about leaving the carbon footprint. The most important utilization in plastic are the way they are used by the consumers for preserving food as they are used to wrap foods, be it meat or vegetables, and to preserve drinks such as milk and juices and products such as butter and many other liquid and dry items. Plastic containers prevent food from becoming spoiled, and protect from illness and to preserve the nutrient content of food. Of late, Bioplastics are gaining a lot of popularity for their remarkable capability to degrade much faster and they are expected to show over 40% yearly growth in the five-year period by the end of 2015.
According to the British Plastics Federation, the European, particularly UK plastics industry accounts for more than 2% of the country’s gross domestic product, with sales reaching almost $28 billion, and the industry employs more than 220,000 people, that produce over 2.5 million tons with exports worth $7.3 billion. In addition, there are close to 3,200 plastics facilities in operation throughout Canada, where the plastics market is worth close to $26.5 billion, according to the Canadian Plastics Industry Association.
1 . How MarketResearchReports.com Can Help You Find the Right Report(s)?
Plastics Industry Overall Growth Forecast
We offer syndicated/off-the-shelf and custom market research reports covering Plastics industry. These reports are designed to provide a wholistic view of the global Plastics industry.
The major growth forecast covered are:
- Plastics Industry CAGR % Growth Forecast for 2022-2028
- Plastics Industry Value Growth Forecast for 2022-2028
- Plastics Industry Key Companies Growth Forecast for 2022-2028
Plastics Industry Regional Data Coverage
The reports offered by us provide deep regional data for Plastics industry. This information is designed to help decision makers identify the key growth markets of Plastics industry and prepare their business strategy accordingly.
The major regional data covered are:
- Plastics Industry Region-Wise Growth Trends
- Plastics Industry Key Country Growth Opportunities
- Plastics Industry Focus on Most Important Markets
Plastics Industry Trends Analysis
The reports covering Plastics industry offer trends analysis of various types. These include overall key growth opportunities in global Plastics industry.
The major trends and analysis covered are:
- Plastics Industry Key Player Profiles
- Plastics Industry SWOT Analysis
- Plastics Industry Growth Drivers and Challenges
2 . Latest Market Research Reports on Plastics Industry
Below mentioned is the list of reports available for on Plastics industry. If you are not able to locate the correct report, please use the search option available on top of this page to search for the right report. You can also chat with us using the online chat system facility available at the bottom right corner of this page. You can also send your requirements using the contact form.
We also undertake custom market research projects which can provide reports matching your specific data requirements. Please send us your custom research project details using the custom market research form.
