Global Commodity Plastics Market by End-use (Packaging, Medical & Pharmaceutical), by Product (PS, PP, PE, PVC, PET, PMMA) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global commodity plastics market was valued at USD 434.6 million in 2019. It is projected to grow at a compound annual rate (CAGR of 3.2%) between 2020 and 2027. Over the forecast period, the main drivers for the global commodity plastics industry will be packaging, medical and pharmaceutical as well as consumer durable goods. Commonly, commodity plastics are used in mass-produced products and single-use products such as packaging films or bottles. These materials can be used in many other industries such as electronics, building and construction, or automotive. The market is expected to grow due to an increase in demand for commodity plastics for durable consumer goods such as containers, weather-resistant clothes, disposable utensils, packaging materials for food, pharmaceutical products, bottles and personal care products.

The lighter, structurally sound and resistant to abrasion commodity plastics are more lightweight. They are easily recyclable and can be molded into many shapes which make them ideal for packaging applications. There is a rising demand for packaging bottles and trays as well as crates. In the next few years, the demand for commodity plastics will increase for food and beverage packaging. Lockdowns and other restrictions imposed by various governments to stop the spread of the coronavirus pandemic have led to a decrease in product consumption, which has negatively affected its demand for various applications. Due to logistic restrictions, manufacturers are having difficulties running production units. This is further affecting product demand.

Market growth is expected to be hampered by stringent environmental regulations regarding non-biodegradable materials, particularly in North America and Europe. The market will continue to grow due to the increasing demand for specialty commodity plastics in healthcare for the manufacture of medical masks, gowns and other safety products.

Product Insights

The market leader in polyethylene (PE), accounted for over 35% of global revenue in 2019. This segment is expected to grow due to its increasing use in packaging, medical and pharmaceutical industries, as well as consumer durable products. The future growth of the segment will be driven by the increasing use of PE in the manufacture of advanced polymers such as Polyethylene Terephthalate (PET) and Extended Polyethylene, which are used in high performance applications.

Due to its increasing use in the automotive, transportation, and building & construction sectors, Poly Methyl Methacrylate will be the fastest-growing product category over the forecast period. Because of its toughness and better impact strength than other plastics, polymethyl methacrylate is used widely in these industries.

End-use Insights

The market's leading segment, the packaging end-use segment, accounted for 39% of global revenue in 2019. Flexible packaging is expected to see a rise in demand due to its durability, low cost and high recyclability. The segment's growth is expected to be driven by the advancement in packaging materials technology, and the increased use of recycled plastics in packaging.

Due to growing demand for medical devices, the pharmaceutical and medical segments are expected to grow the fastest over the forecast period. Because they are more economical, commodity plastics are becoming increasingly popular. They offer greater optical clarity and biocompatibility. To achieve the desired properties needed for medical devices, several plastics such as polystyrene or polyethylene can be blended.

Rising geriatric populations and rising incidences of Cardiovascular Diseases, (CVDs), around the globe are expected to drive the demand for medical devices and instruments. This will in turn have a positive effect on the demand to produce commodity plastics for medical and pharmaceutical applications. The COVID-19 epidemic is expected to increase the demand for medical-grade materials.

Regional Insights

Asia Pacific was the dominant market in 2019, accounting for more than 46% of the total share. The market growth is expected to be driven by the growing demand for commodity plastic in the packaging and medical and pharmaceutical sectors, particularly in countries like China, India, Japan. The region's economic and healthcare developments in Asia Pacific, as well as rising investment in the construction sector, are key factors expected to drive demand for commodity plastic over the forecast period.

COVID-19, a recent epidemic in India, China, France, Italy, and other countries, is expected to reduce product demand in construction, electrical, electronics, and consumer goods. The recent outbreak has caused a slowdown or complete halt in manufacturing operations, as well as restrictions on supply and transport. This is likely to adversely impact the demand for commodity materials in these applications in the region during the third and fourth quarters 2020.

Market Share Insights & Key Companies

This market is home to many small and medium-sized companies that cater to local and global needs. To increase their industry share and drive revenues, companies in this market are focusing on expanding their global footprint. To meet the growing needs of emerging economies, companies are expanding their services to the Middle East, Asia Pacific and Europe. The demand for PET, PP and PE films in countries like India, the U.S. and China is increasing significantly due to the growing need for medical equipment such as masks, sanitizer bottle and face shields. Market players are likely to expand their market share in the future. The following are some of the major players in the commodity plastics industry:

• BASF SE

• SABIC

• Dow Inc.

• DuPont de Nemours, Inc.

• Eastman Chemical Company

• Chevron Phillips Chemical Co. LLC

• Exxon Mobil Corporation

Up Market Research published a new report titled “Commodity Plastics Market research report which is segmented by End-use (Packaging, Medical & Pharmaceutical), by Product (PS, PP, PE, PVC, PET, PMMA), By Players/Companies BASF SE, Eastman Chemical Company, Dow Inc, Exxon Mobil Corporation, Chevron Phillips Chemical Co LLC, SABIC, DuPont de Nemours Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Commodity Plastics Market Report Segments:

The market is segmented by End-use (Packaging, Medical & Pharmaceutical), by Product (PS, PP, PE, PVC, PET, PMMA).

Commodity Plastics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Commodity Plastics Market

Overview of the regional outlook of the Commodity Plastics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Commodity Plastics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Commodity Plastics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Packaging

                2. Medical & Pharmaceutical

                1. PS

                2. PP

                3. PE

                4. PVC

                5. PET

                6. PMMA

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Commodity Plastics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Understanding Competition Scenario
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Reasons to Purchase the Commodity Plastics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.