The market report “Commodity Plastics Market by Types (Polyethylene Terephthalate (PET), Polyester, Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyvinyl Chloride (PVC), Polyethylene (PE) and Polystyrene (PS)), Type of Plastics (Recyclable, Non Reusable or Recyclable and Reusable and Recyclable), End Users (Furniture & Décor, Textiles (Fibers and Fabrics), Packaging, Electrical & Electronics, Medical & Pharmaceutical, Automotive & Transportation, Building & Construction, Consumer Durable Goods and Other End Users), and Region – Forecast to 2028”. The commodity plastics market is growing at a CAGR of 8.0% by 2028, owing to the growing packaging industry.
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Based on type, the polyethylene terephthalate (PET) segment is estimated to grow at highest CAGR segment during the study period.
On the basis of type, the market is categorized into polyethylene terephthalate (PET), polyester, acrylonitrile butadiene styrene (ABS), polypropylene (PP), polyvinyl chloride (PVC), polyethylene (PE), and polystyrene (PS). The polyethylene terephthalate (PET) segment is estimated to be the fastest growing market segment strongly driven by the factor that this material is used to package and deliver a large number of consumer products, beverages, and food items.
Based on end user, the consumer durable goods segment is anticipated to grow faster during the forecast period.
On the basis of end user, the market is segmented into furniture & décor, textiles (fibers and fabrics), packaging, electrical & electronics, medical & pharmaceutical, automotive & transportation, building & construction, consumer durable goods, and other end users. The consumer durable goods segment is projected to grow faster during the forecast period due to the changing consumer lifestyle with increasing disposable income has resulted in an increase in the importance of plastics as packaging products.
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• Polyethylene Terephthalate (PET)
• Acrylonitrile Butadiene Styrene (ABS)
• Polypropylene (PP)
• Polyvinyl Chloride (PVC)
• Polyethylene (PE)
• Polystyrene (PS)
Type of Plastics Covered:
• Non Reusable or Recyclable
• Reusable and Recyclable
End Users Covered:
• Furniture & Décor
• Textiles (Fibers and Fabrics)
• Electrical & Electronics
• Medical & Pharmaceutical
• Automotive & Transportation
• Building & Construction
• Consumer Durable Goods
• Other End Users
By geography, North America is expected to dominate the market
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America is experiencing a dominant position in the commodity plastics market. This is mainly attributed to the high pace of technological advancement and rising demand for medical device packaging due to rising medical disorders and the rising geriatric population. Moreover, U.S. is the largest producer due to the presence of key players in the region and the expansion of the automotive sector.
The key players in this market are BASF SE, Dow Inc., SABIC, DuPont de Nemours, Inc., Mitsubishi Chemicals Holdings Corporation, Eastman Chemical Company, LG Chemicals, Chevron Phillips Chemical Co., LLC, Arkema SA, Exxon Mobil Corporation, Nippon Polyurethane Industry Corp Ltd., Huntsman Corporation, Mitsui Chemicals Inc., Qatar Petroleum and Exxon Mobil.
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