Global Plastic Products Market Trends And Strategies Of Major Players In The Plastic Products Market 2021-2030
16 Jun, 2021
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.
Global Plastic Products Market Size And Drivers:
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%. The plastics products manufacturing industry is affected by the growth of the packaging industry.
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Trends In The Global Plastic Products Market
The practice of using 3D printing in plastics manufacturing is becoming more common. This technology produces solid objects from digital designs by building up multiple layers of plastic, resin, or other materials in a precisely determined shape. The speed and flexibility of this technology can promote innovation and reduce time-to-market. The products produced using 3D printers have good mechanical properties like strength and rigidity. For example, Stratasys developed one such color multi-material 3D printer which can combine colors with multi-material 3D printing. The printer uses cyan, magenta and yellow colors and plastics and elastomers as base materials to print objects with wide ranges of flexibility and rigidity, transparency and opacity.
Global Plastic Products Market Segments:
The global plastic products market is further segmented based on type, technology, end user and geography.
By Type: Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Polystyrene Foam Products, Urethane And Other Foam Product, Other Plastics Product
By Technology: Injection Molding, Extrusion Molding, Blow Molding, Others
By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Others
Sub segments Covered: Bags And Pouches, Films And Sheets, Unlaminated Plastics Profile Shape, Plastics Pipe And Pipe Fitting HDPE Plastic Bottles, PET Plastic Bottles, PP Plastic Bottles, Other Plastic Bottles
By Geography: The global plastic products 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 products market, accounting for 37% of the market in 2020.
Read More On The Report For The Global Plastic Products Market At:https://www.thebusinessresearchcompany.com/report/plastic-products-global-market-report-2020-30-covid-19-impact-and-recovery
Plastic Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides plastic products market overviews, analyzes and forecasts market size and growth for the global plastic products market, plastic products market share, plastic products market players, plastic products market segments and geographies, plastic products market’s leading competitors’ revenues, profiles and market shares. The plastic products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.