Global Plastic Material And Resins Market Trends And Strategies Of Major Players In The Plastic Material And Resins Market 2021-2030
12 Mar, 2021
The plastic materials and resins market consists of the sales of plastic materials and resins by entities (organizations, sole traders or partnerships) that manufacture plastic materials, resins, and no vulcanizable thermoplastic elastomers, and mix and blend resins on a custom basis and/or manufacture no customized synthetic resins. The plastic materials and resins market is segmented into polypropylene, high-density polyethylene, poly-vinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene and other plastic material and resins.
Global Plastic Material And Resins Market Size And Drivers:
The global plastic material and resins market is expected to grow from $466.15 billion in 2020 to $562.07 billion in 2021 at a compound annual growth rate (CAGR) of 20.6%. The market is expected to reach $659.21 billion in 2025 at a CAGR of 4%.
New developments in the packaging industry such as CO2RE foaming technology, big data, and IoT integration are expected to drive the market going forward.
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Trends In The Global Plastic Material And Resins Market
The searches for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can change based on the external environmental stimuli. Nanocomposites are a product that is a result of a combination of nanotechnology and plastics engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant along with resistance to scratch, dent and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive and aerospace sectors.
Global Plastic Material And Resins Market Segments:
The global plastic material and resins market is further segmented based on type, end user industry and geography.
By Type: Polypropylene-Plastic Material And Resins, High-Density Polyethylene, Poly-Vinyl Chloride, Polyethylene Terephthalate, Polyurethane, Low-Density Polyethylene, Polystyrene-Plastic Material And Resins, Other Plastic Material And Resins
By End-User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Others
By Geography: The global plastic material and resins market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global plastic material and resins market, accounting for 52% of the total market.
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Plastic Material And Resins Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides plastic material and resins market overviews, analyzes and forecasts market size and growth for the global plastic material and resins market, plastic material and resins market share, plastic material and resins market players, plastic material and resins market segments and geographies, plastic material and resins market’s leading competitors’ revenues, profiles and market shares. The plastic material and resins market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches