COMMODITY PLASTIC MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The commodity plastic market is estimated to be valued at USD 593.45 Bn in 2024, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031. The global commodity plastic market has experienced steady growth over the past few decades. Commodity plastics refer to bulk plastics that are manufactured in high volumes and are widely used across industries due to their versatility and cost-effectiveness. Some key commodity plastics include polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), and polyethylene terephthalate (PET). These plastics find widespread application in the packaging, construction, automotive, consumer goods, and various other industrial sectors owing to properties such as durability, moldability, and resistance to corrosion. Rapid industrialization and urbanization along with growing plastic consumption per capita have been fostering the demand for commodity plastics globally.

 Market Dynamics:

Rising plastic consumption across various end-use industries has been a major growth driver for the global commodity plastic market. Plastics are increasingly substituting traditional materials in diverse applications due to their lightweight and low-cost advantages. Moreover, steady investments in infrastructure development and construction activities in emerging economies are further augmenting the plastic demand. However, stringent environmental regulations regarding plastic disposal and recycling may hamper the market growth. On the other hand, the development of bio-based and recyclable plastics is expected to present lucrative opportunities for market expansion in the coming years.

 Key Features of the Study:

• This report provides an in-depth analysis of the global commodity plastic market, and provides market size (US$ Bn & KT) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global commodity plastic market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Exxon Mobil, LG Chem, Sumitomo Chemical, The Dow Chemical Company, SABIC, BASF SE, LyondellBasell, Sinopec, Ineos, Formosa Plastics, Mitsubishi Chemical, Borealis AG, Chevron Phillips, Chemical, ENI SpA, Reliance Industries, Braskem, Hanwha Chemical, Lotte Chemical, and Indian Oil
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global commodity plastic market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global commodity plastic market

Market Segmentation

• By Type:
• • PE
  • PP
  • PVC
  • PS
  • ABS
  • Others (PET, etc.)
• By End Use Industry:
• • Packaging
  • Construction
  • Consumer Goods
  • Automotive
  • Electronics
  • Textiles
  • Medical & Pharmaceutical
  • Others (agricultural films, sports equipment, etc.)
• By Regional:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Exxon Mobil
  • LG Chem
  • Sumitomo Chemical
  • The Dow Chemical Company
  • SABIC
  • BASF SE
  • LyondellBasell
  • Sinopec
  • Ineos
  • Formosa Plastics
  • Mitsubishi Chemical
  • Borealis AG
  • Chevron Phillips
  • Chemical
  • ENI SpA
  • Reliance Industries
  • Braskem
  • Hanwha Chemical
  • Lotte Chemical
  • Indian Oil