The plastic products market consists of sales of plastic products by entities (organizations, sole traders and partnerships) that produce packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications.These businesses use polymers and resins as raw materials which are primarily sourced from polymer suppliers.The processes used in plastic products manufacturing include compression molding, extrusion molding, injection molding, blow molding and casting.The plastic products market is segmented into plastics packaging materials and unlaminated film and sheet; plastic pipes and shapes; laminated plastics plate, sheet, and shape; plastics bottles; urethane and other foam products; polystyrene foam products and other plastics products.
The global plastic products market is expected to grow from $931.3 billion in 2020 to $993.9 billion in 2021 at a compound annual growth rate (CAGR) of 6.%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.The market is expected to reach $1258. billion in 2025 at a CAGR of 6%.
