Plastic Market Business Strategies, Future Trends And Forecast To 2030
Global Plastic Market Set to Reach USD 714.03 Billion by 2030 with a 5% CAGR
Summary:
The global plastic market, valued at USD 507.45 billion in 2023, is projected to grow at a CAGR of 5% from 2024 to 2030, reaching an estimated USD 714.03 billion by 2030. The report highlights the market trends, impact of COVID-19, and significant growth in the construction, automotive, and electronics industries.
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Market Size:
The global plastic market, valued at USD 507.45 billion in 2023, is anticipated to grow to USD 714.03 billion by 2030. This growth is driven by the increasing use of plastics in various industries, including construction, automotive, and electronics.
Overview:
The plastic market is witnessing significant growth due to its widespread use across various sectors. The adoption of plastics as a substitute for traditional materials like metals in the automotive industry is a key driver. Additionally, the expansion of the construction industry in emerging economies like China, India, Brazil, and Mexico further fuels demand.
Market Scope:
The report provides a comprehensive analysis of the global plastic market from 2017 to 2030, with 2023 as the base year. Special attention is given to the impact of the COVID-19 pandemic, with insights into how the market is expected to recover and grow post-pandemic.
Segmentation:
The plastic market is segmented by product type and application. Key product types include:
- Polyethylene (PE)
- Polypropylene (PP)
- Polyurethane (PU)
- Polyvinyl chloride (PVC)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Acrylonitrile butadiene styrene (ABS)
- Polybutylene terephthalate (PBT)
- Epoxy Polymers
- Polyphenylene Oxide (PPO)
Applications are divided into:
- Injection Molding
- Blow Molding
- Roto Molding
- Compression Molding
- Casting
Major Manufacturers:
- BASF SE
- SABIC
- Dow Inc.
- DuPont de Nemours, Inc.
- Evonik Industries
- Sumitomo Chemical Co., Ltd.
- Arkema
- Celanese Corporation
- Eastman Chemical Company
- Chevron Phillips Chemical Co., LLC
- Lotte Chemical Corporation
- Exxon Mobil Corporation
- Formosa Plastic Corporation
- Covestro AG
- Toray Industries, Inc.
- Mitsui & Co. Plastic Ltd.
Regional Analysis:
Asia-Pacific dominates the global plastic market, accounting for more than 44% of the revenue in 2021. The region's market growth is driven by the automotive, construction, packaging, and electronics industries. China and India, in particular, have seen substantial growth in car production and infrastructure development, which has significantly boosted plastic consumption.
COVID-19 Impact Analysis:
The COVID-19 pandemic has had a profound impact on the global economy, directly affecting production and demand, disrupting supply chains, and causing financial strain on businesses. Despite these challenges, the plastic market is expected to recover and provide lucrative opportunities for manufacturers in the post-pandemic era.
Key Questions Answered:
- What is the projected growth rate of the global plastic market from 2024 to 2030?
- Which regions are expected to dominate the plastic market during the forecast period?
- What are the major factors driving the growth of the plastic market?
- How has the COVID-19 pandemic impacted the global plastic market?
Table of Contents:
- Introduction
- Market Overview
- Market Dynamics
- Segmentation Analysis
- Regional Analysis
- COVID-19 Impact Analysis
- Competitive Landscape
- Key Questions Answered
- Conclusion
For further details, feel free to reach out to us at any time: https://www.maximizemarketresearch.com/market-report/global-plastic-market/100495/
About Us:
About Maximize Market Research:
Maximize Market Research is a leading market research and business consulting firm that caters to a broad range of global clients. Our dedication to driving revenue growth and delivering practical insights has secured the confidence of many Fortune 500 companies. We provide an extensive range of services across various sectors such as IT and telecom, chemicals, food and beverage, aerospace and defense, and healthcare. With our thorough methodologies and in-depth industry expertise, we are a crucial ally for businesses aiming to excel in competitive environments.
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