Global Plastic Market to Reach $680 Billion by 2029, Driven by Growth in Construction, Automotive and Electrical & Electronics Industries
Market Overview:
The global plastic market is expected to reach USD 680.04 billion by 2029, growing at a CAGR of 5.0% from 2023. This growth is attributed to:
- Increasing plastic use: Construction, automotive, and electrical & electronics industries are expected to drive the demand for plastics.
- Metal substitution: Regulations aimed at reducing vehicle weight are leading to the use of plastic instead of metals in automobiles, improving fuel efficiency and reducing emissions.
- Emerging economies: Growth in construction spending in emerging economies like Brazil, China, India, and Mexico is fueling plastic demand.
Here is the link for the preview of the dynamic Plastic Market: https://www.maximizemarketresearch.com/request-sample/100495
Report Scope:
This report provides a comprehensive analysis of the global plastic market, including:
- Market size and growth projections for 2023-2029
- Segmentation by product type and application
- Competitive landscape
- Market trends and growth drivers
Research Methodology:
The report utilizes both primary and secondary data sources, including:
- Surveys and interviews with industry experts, manufacturers, and end-users
- Published industry reports, company websites, and trade journals
Segmentation:
The market is segmented by:
- Product type: Polyethylene (PE), Polypropylene (PP), Polyvinyl chloride (PVC), etc.
- Application: Packaging, automotive & transportation, infrastructure & construction, etc.
Regional Insights:
- Asia Pacific dominates the market, accounting for over 44% of global revenue in 2021. Rising industrialization and economic growth in the region are expected to further drive demand.
- North America and Europe are also significant markets, with established plastic manufacturing bases.
Plastic Market, Key Players are
1. BASF SE
2. SABIC
3. Dow Inc.
4. DuPont de Nemours, Inc.
5. Evonik Industries
6. Sumitomo Chemical Co., Ltd.
7. Arkema
8. Celanese Corporation
9. Eastman Chemical Company
10. Chevron Phillips Chemical Co., LLC
11. Lotte Chemical Corporation
12. Exxon Mobil Corporation
13. Formosa Plastic Corporation
14. Covestro AG
15. Toray Industries, Inc.
16. Mitsui & Co. Plastic Ltd.
Conclusion:
The global plastic market is poised for steady growth, driven by various factors. This presents opportunities for players across the plastic value chain.
Harness the power of our tailored research report summaries, designed to meet your unique business requirements, and elevate your competitive advantage in the dynamic Plastic Market: https://www.maximizemarketresearch.com/market-report/global-plastic-market/100495/
About Maximize Market Research:
Maximize Market Research distinguishes itself as a dynamic market research and consulting firm, boasting a team of seasoned professionals with diverse industry backgrounds. Our expertise spans an array of sectors, including science, engineering, electronic components, industrial equipment, technology, communication, automotive, chemicals, general merchandise, beverages, personal care, and automated systems. We specialize in offering industry-validated market estimations, conducting in-depth technical trend analysis, providing essential market research, offering strategic advice, conducting competition analysis, and performing production and demand analysis, along with client impact studies. Our primary objective is to deliver comprehensive and reliable insights that enable businesses to make well-informed decisions and achieve their strategic objectives.
Contact Maximize Market Research:
MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
✆ +91 9607365656
🖂 sales@maximizemarketresearch.com
🌐 www.maximizemarketresearch.com
Discover a trove of market insights and analyses within our expansive database, featuring a variety of supplementary reports on related topics:
Global Private Long-Term Evolution (LTE) in Mining Industry Market https://www.maximizemarketresearch.com/market-report/global-private-long-term-evolution-lte-in-mining-industry-market/108500/
Stand Tile Saw Market https://www.maximizemarketresearch.com/market-report/stand-tile-saw-market/147267/
Travel Bag Market https://www.maximizemarketresearch.com/market-report/global-travel-bag-market/26844/