Plastic Material And Resins Market Definition And Segments

The plastic materials are synthetically made final products from polymers and resin is an unprocessed plastic derived from plant oozes. These include no vulcanizable thermoplastic elastomers, and customized as well as non-customized synthetic resins. The main types of plastic materials and resins are polypropylene-plastic material and resins, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene-plastic material and resins, and other types of plastic material and resins. Polyvinyl chloride is a thermoplastic made of 57% chlorine derived from common salt and 43% carbon derived from ethylene from hydrocarbon feedstocks, sugar crops, crude oil, and natural gas. The applications involved are packaging, housewares, bags, sheets, bottles, fibers, tapes, films, medical materials, and other applications. The end-user industries include the chemical industry, the coating and printing industry, the electronics industry, the food and pharmaceutical industry, and other end-user industries. The plastic material and resins market covered in this report is segmented – 1) 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 2) By Application: Packaging, Housewares, Bags, sheets, Bottles, Fibers, Tapes, Films, Medical Materials, Other Applications 3) By End User Industry: Chemical Industry, Coating & Printing Industry, Electronics Industry, Food & Pharmaceutical Industry, Other End-User Industries The plastic material and resins market size has grown rapidly in recent years. It will grow from $898.26 billion in 2023 to $998.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to increased demand for industrial packaging products, growth of motor vehicles, and growth in the construction industry. The plastic material and resins market size is expected to see rapid growth in the next few years. It will grow to $1498.73 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to new developments in packaging will drive the growth in the plastic material and resins market. Major trends in the forecast period include new technological developments in the manufacturing process and trying to develop products with improved attributes and new characteristics, focusing on the research and development of new materials that are environmentally friendly and also have widespread use, investing in automation and robotics in factories to increase productivity, using recycled plastic products as raw materials to reduce their carbon footprint, and focusing on collaborating with technology-based companies and research organizations in development activities of advanced polymers.

Increase The Consumption Of Plastics Fueling The Surge In Plastic Material And Resins Market Growth.

New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the market going forward. Convenience features, such as resealable packs, easy-opening, stand-up pouches, and smaller pack sizes for single-servings, are being introduced, and more promotional packs and brand extensions are being developed to ensure customer loyalty. Similarly, the recent development of biodegradable plastics, which degrade naturally from the actions of microorganisms such as bacteria, algae, and fungi, is gaining traction. These developments in packaging will increase the consumption of plastics, which will drive the market's growth.

Increasing Demand For Electric Vehicles (EVS) Fuels Growth In The Plastic Material And Resin Market

The increase in demand for electric vehicles (EVs) is expected to propel the growth of the plastic material and resin market going forward. Electric vehicles (EVs) refer to a vehicle that can be propelled by an electric motor that draws power from a battery and can be charged externally. The growing demand for electric vehicles (EVs) has surged the need for lightweight and durable plastic materials and resins in automotive components, including battery enclosures, interior components, and lightweight structural parts, thus driving the plastic material and resin market within the automotive sector. For instance, in June 2022, according to the United States Department of Energy (DOE), a US-based government agency, the total number of electric vehicle registrations in the United States was 1.45 million, with California accounting for approximately 563,070 registrations of light-duty electric vehicles, representing 39% of EVs nationwide in 2021. The next-greatest number was in Florida, followed by Texas. Therefore, the increase in demand for electric vehicles (EVs) is driving the growth of the plastic material and resin market. Major companies operating in the plastic material and resins market report are LyondellBasell Industries Holdings BV, Total SE, INEOS AG, Lotte Chemical Corporation, BASF SE, Covestro AG, Formosa Plastics Corp., Huntsman International LLC, Westlake Chemical Corp, Dow, Nolato, Sintex Industries Ltd (India), Abu Dhabi National Oil Company (Adnoc), Zamil Plastic Industries Ltd., Sealed Air Corp., Silgan Holdings Inc., Northern Vinyl Supplies, Australian Vinyls Corporation (Australia), Plastral (Australia), Dagu Chemical Co. Ltd., China Petrochemical Corporation, ENPI Group, SPREA MISR, Sumitomo Chemical Company Limited (China), Yabang Investment Holding Group Co. Ltd., Zhenjiang Chimei Chemical Co. Ltd., Sanmu Group, DuPont, Cosmoplast, Exxon Mobil, Sunstar Engineering Italy S.R.L., Shanghai Huayi (Group), Awgifts Europe, Ncs Resins (Pty) Ltd., Are Plastocure cc, Celanese Corp., Jain Irrigation Systems Ltd (India), Soltex Group, Braskem, Horizon Plastics International, Qatar Petrochemical Company, Kkalpana Industries India Ltd., Chevron Phillips, Formulated Resins Ltd., Flowcrete South Africa, Glezco Plasticos, Messe Brasil, Plastic OJSC, Rosti Poland Sp., BÜFA Composite Systems, VIP Industries Ltd., Solvay S.A., Graham Packaging Company, China National Petroleum Corporation, GAP Polymers, Black Horse Plastic Products, Sonoco Products Company, Bemis Company, Sichuan Jinlu Group Co. Ltd., LG Chemical, INEOS Group, SA de CV, TCR Plastics, Berry Global Group Inc., Matsui Technologies India Ltd., RESITEC PRODUCTION SA, Osterman's Latin American Polymers, POLYNT SPA, Amcor PLC, Xinghua Xinfeng Plastic Co. Ltd., Johannes H. Andress GMBH & CO. KG, Brovary Plastic Plant, Eastman Chemical Company, Geeta Plastic Products, Advanced Polymer Trading FZC (APT), Arabian Plastic Industrial Company Limited, Saudi Aramco, HEKRO PET, PolyOne Corporation, Reliance Industries Ltd., Borealis Group

Oil Price Volatility's Impact On Plastic Material And Resin Market

Oil price volatility is such asly to have a negative impact on the plastic material and resin markets, as a significant decline and increase in oil prices negatively impact government and consumer spending. The decline in oil prices is having a negative impact on government spending in countries such as Saudi Arabia, Nigeria, and the UAE (United Arab Emirates), which are largely dependent on revenues generated through crude oil exports, whereas a significant increase in oil prices has resulted in a spurt in inflation, current account deficit, and fiscal deficit in countries such as India and China, which predominantly import oil. For instance, in January 2023, according to the Energy Information Administration, a US-based government agency, the decline of crude oil prices, such as in December 2022, was $80 per barrel compared to $85 per barrel in December 2021, due to a significant decline in the price of oil affecting the market. This high volatility in the oil process is further expected to negatively impact the market going forward.

Advancements In Smart Polymers And Sustainable Solutions Boost Plastic Material And Resin Market Growth

The search 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 external environmental stimuli. A product that is a result of a combination of nanotechnology and plastic engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant, along with resistance to scratches, dents, 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. For instance, some of the major developments in plastic materials include plastics from potatoes and virgin PET from discarded textile fabric and waste bottles.

Innovative Advances In Eco-Friendly Seaweed Resin Transforming The Plastic Material And Resin Market

Major companies operating in the plastic material and resin markets are focusing on the development of innovative products such as seaweed resin to sustain their position in the market. Seaweed resin refers to a biodegradable and sustainable material derived from seaweed extracts used as an eco-friendly alternative to traditional petroleum-based plastics and resins. For instance, in May 2023, Loliware Inc., a US-based materials science company, launched the newest seaweed resin for injection molding. The ocean-safe seaweed resins are designed to be seamlessly processed using existing plastic manufacturing machinery. This new biomaterial will power the company's first-ever seaweed utensil set and be manufactured on standard plastic injection molding equipment. Asia-Pacific was the largest region in the plastic material and resins market in 2023. North America was the second-largest region in the plastic material and resins market. The regions covered in the plastic material and resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the plastic material and resins market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa The plastic materials and resins market consists of the sales of ryton & kynar, acrylic or polymethyl methacrylate, polycarbonate, and acrylonitrile-butadiene-styrene plastic materials and resins. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The plastic materials and resins market research report is one of a series of new reports from The Business Research Company that provides plastic materials and resins market statistics, including plastic materials and resins industry global market size, regional shares, competitors with a plastic materials and resins market share, detailed plastic materials and resins market segments, market trends and opportunities, and any further data you may need to thrive in the plastic materials and resins industry. This plastic materials and resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

High-Density Polyethylene Market Definition And Segments

High-density polyethylene is a plastic polymer with flexible properties. HDPE has high density and is resistant to impact and chemicals, hence it is widely used in healthcare and laboratory environments. HDPE is also used in heavy-duty damp-proof membranes, flexible bags, and films. The product types of high-density polyethylene are PE 63, PE 80, and PE 100. PE 63 is a medium-pressure piping system, irrigation system, and drinking water connection. The applications are oil and gas pipelines, agricultural irrigation pipes, water supply pipes, sewage system pipes, and other applications. The end-use industries are packaging, building and construction, agriculture, automobiles, and other end-use industries. The high-density polyethylene market covered in this report is segmented – 1) By Product Type: PE 63, PE 80, PE 100 2) By Application: Oil And Gas Pipe, Agricultural Irrigation Pipe, Water Supply Pipe, Sewage System Pipe, Other Applications 3) By End User Industry: Packaging, Building and Construction, Agriculture, Automotive, Other End Use Industries The high-density polyethylene market size has grown rapidly in recent years. It will grow from $102.33 billion in 2023 to $113.17 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to industrialization and infrastructure development, substitution for traditional materials, rise in consumer packaging demand, environmental regulations, growth of the retail sector. The high-density polyethylene market size is expected to see rapid growth in the next few years. It will grow to $166.4 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to growing demand for sustainable packaging, infrastructure development in emerging markets, expanding use in healthcare sector, rise in e-commerce activities, demand for hdpe in 3d printing. Major trends in the forecast period include advancements in hdpe recycling technologies, technological advancements in production, expanding applications in construction sector, shift towards circular economy practices, growing demand for hdpe in agriculture.

Versatile Properties Of PE-HD (High-Density Polyethylene) To Drive Market Growth Across Various Industries

The unique set of properties of PE-HD (high-density polyethylene), such as lightweight, impact resistance, flexibility, and the ability to resist low temperatures, serve as the most important market drivers. These properties have increased demand for PE-HD in end-user industries such as manufacturing, energy, geothermal, marine, mining, landfill, HVAC, gas, oil, mining, and agricultural industries. HDPE pipe is environmentally sustainable because it is non-toxic, corrosion and chemical resistant and has a long lifespan. According to the Pipeline & Gas Journal, many oil and gas companies are exploring plastic pipes as an alternative for pipeline transportation to reduce operational expenses as they are corrosion-resistant, flexible, and lightweight.

Rise Of The Packaging Industry To Drive Market Growth

The rise of the packaging industry is expected to propel the growth of high-density polyethylene market. The packaging industry refers to the sector of the economy that is involved in the design, production, and distribution of packaging materials and solutions used to contain, protect, and present products to consumers. High-density polyethylene (HDPE) is favored in the packaging industry for its lightweight and cost-effective transportation benefits, coupled with its resistance to chemicals and moisture, suitable for various products. As the packaging industry expands, the demand for high-density polyethylene is expected to rise further. For instance, in May 2022, according to VDMA (Verband Deutscher Maschinen- und Anlagenbau), a Germany-based trade association, the food processing and packaging machinery industry in Germany generated $16.75(€14.8) billion in revenue in 2021, an 7% increase compared to 2020. Therefore, the rise of the packaging industry is driving the growth of the high-density polyethylene market going forward. Major companies operating in the high-density polyethylene market report are China Petroleum & Chemical Corporation, PetroChina Company Limited, Exxon Mobil Corp., TotalEnergies SE, Reliance Industries Limited, Repsol SA, Dow Inc., Saudi Basic Industries Corporation, LyondellBasell industries NV , LG Chem Ltd., China National Chemical Corporation (ChemChina), Asahi Kasei Corp., National Petrochemical Company (NPC), PTT Global Chemical Public Company Limited, Braskem S.A., Sasol Limited, Lotte Chemical Corporation, Westlake Corporation, Thai Oil Public Company Limited, Chevron Phillips Chemical Co., Indian Oil Corporation Ltd., DuPont de Nemours Inc., Arkema SA, Borealis AG, Formosa Plastics Corp., Tosoh Corporation, INEOS Olefins & Polymers LLC, Abu Dhabi Polymers Company Ltd., Bayport Polymers LLC, Polymers Europe

Polypropylene (PP) Poses A Competitive Challenge To High-Density Polyethylene Market

The use of competitive materials such as polypropylene (PP) is threatening the growth of the HDPE market. HDPE is opaque and translucent in nature, whereas PP is amorphous or crystalline in nature and is preferred in cases where transparent packaging is required. Polypropylene is unusually resistant to many chemical solvents, bases, and acids. It is much less brittle than HDPE. PP is also microwavable and dishwasher safe. Owing to its lighter nature, PP is now used in a wide variety of applications, including food packaging, textiles, laboratory equipment, automotive components, and HDPE. Thus, the market for HDPE is negatively impacted by this inter-polymer competition between PP and HDPE. The demand for thermoplastics from the automotive industry can be attributed to the weight reduction revolution. For instance, BMW is using thermoplastics for the exterior skin of their newest vehicles, such as the I series. The rising demand for thermoplastic materials increased the demand for the polypropylene market, thereby driving the market.

Heavy Investments To Increase The Sustainability Of High-Density Polyethylene (PE-HD)

Companies involved in the high-density polyethylene (PE-HD) market are investing heavily to increase the sustainability of PE-HD. Companies are making efforts to use environmentally safe raw materials while maintaining the quality and safety standards of their products. Following the trend, for instance, Chevron Phillips Chemical is one of the top suppliers of polyethylene in the world. It provides high-density (HDPE), medium-density (MDPE), low-density (LDPE), linear low-density (LLDPE), metallocene, and masterbatches for a broad range of applications, including pressure pipes, soap and detergent bottles, flexible packaging, coatings and laminations, films, and more.

Product Innovations Reshaping The High-Density Polyethylene (PE-HD) Market

Major companies operating in the high-density polyethylene market are innovating new products such as HDPE resin to gain a competitive edge in the market. High-Density Polyethylene (HDPE) resin is a type of polymer, specifically a thermoplastic made from petroleum. For instance, in June 2023, TotalEnergies SE, a France-based petroleum business company launched a high-density polyethylene (HDPE) resin, HDPE 20HD07, designed for tethered cap applications. This innovative resin reduces material usage and also improves recycling efforts within the industry. It offers enhanced mechanical and organoleptic properties, while using less material, contributing to a reduced carbon footprint in applications like beverage and cosmetic bottles. The resin simplifies recycling processes, aligning with circular economy principles and adheres to environmental standards.

Atkore Acquires Hdpe Conduit Manufacturer Elite Polymer Solutions

In November 2022, Atkore Inc., a US-based electrical products manufacturing company acquired Elite Polymer Solutions for an undisclosed amount. Atkore's acquisition of Elite Polymer Solutions strengthened its HDPE conduit product portfolio and expanded its national presence, enabling it to better serve the growing demand for underground protection in the electrical, utility, and telecom sectors. Elite Polymer Solutions is a US-based manufacturer of high-density polyethylene (HDPE) conduits. Asia-Pacific was the largest region in the high-density polyethylene market in 2023. North America was the second-largest region in the global high-density polyethylene market. The regions covered in the high-density polyethylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the high-density polyethylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The high-density polyethylene (HDPE) market consists of the sales of high-density polyethylene used to produce shampoo bottles, toys, pipe systems, recycling bins, chemical containers, milk jugs, grocery bags, and cereal box liners. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The high-density polyethylene market research report is one of a series of new reports from The Business Research Company that provides high-density polyethylene market statistics, including high-density polyethylene industry global market size, regional shares, competitors with a high-density polyethylene market share, detailed high-density polyethylene market segments, market trends and opportunities, and any further data you may need to thrive in the high-density polyethylene industry. This high-density polyethylene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Low-Density Polyethylene Market Definition And Segments

Low-density polyethylene (LDPE) refers to a thermoplastic produced from the monomer ethylene. Low-density polyethylene is resistant to moisture and chemicals, and it is non-toxic, non-contaminating in nature, flexible, and relatively transparent. It is used to make many thin and flexible products, such as plastic bags for dry-cleaning, newspapers, and others. The manufacturing process of low-density polyethylene is the autoclave method and the tubular method. Autoclaving is a sterilization method that uses high-pressure steam. The autoclaving process works in that the boiling point of water increases when it is under pressure. The applications are film and sheets, extrusion coatings, injection molding, and other applications. The end-use industries are agriculture, electrical and electronics, packaging, construction, and other end-use industries. The low-density polyethylene market covered in this report is segmented – 1) By Manufacturing Process: Autoclave Method, Tubular Method 2) By Application: Film and Sheets, Extrusion Coatings, Injection Molding, Other Applications 3) By End User Industry: Agriculture, Electrical and Electronics, Packaging, Construction, Other End Use Industries The low-density polyethylene market size has grown rapidly in recent years. It will grow from $51.75 billion in 2023 to $56.93 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to industrialization and economic growth, product innovations and applications, consumer lifestyle changes, raw material availability and pricing, global trade dynamics. The low-density polyethylene market size is expected to see strong growth in the next few years. It will grow to $82.25 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to growing sustainability and circular economy, infrastructure development, energy transition and environmental policies, consumer awareness of plastic waste, market consolidation and mergers. Major trends in the forecast period include technological advancements in material science, technological advancements in manufacturing, rising demand in healthcare sector, global regulatory changes, technological advancements in production processes.

Surging Demand For Ldpe In Packaging Industry Drives Market Growth

The rising demand for LDPE in the packaging industry is expected to boost the growth of the LDPE market. LDPE is being increasingly used for food packaging and non-food packaging. Use of LDPE in packaging decreases the cost of packaging. LDPE has the properties of having good tensile strength and being flexible, which makes the process of packaging easy. LDPE is commonly used in food packaging to manufacture coffee can lids, bread bags, and fruit and vegetable bags used in grocery stores. It is also used in non-food packaging such as shipping sacks, bubble packing, envelopes, overwrap, and rack and counter bags. According to the American Plastics Council (APC), LDPE accounts for 65.5 percent of the total plastic film used in the packaging of food items, whereas it accounts for 54.9 percent of the total plastic film used in the packaging of non-food items. The increase in demand for packaging accelerates the demand for LDPE used as a packaging material.

The Expanding Pharmaceutical Industry As A Key Driver For The Low-Density Polyethylene Market

The growing pharmaceutical industry is expected to propel the growth of the low-density polyethylene market going forward. The pharmaceutical industry is a sector that involves the discovery, development, and production of drugs and medicines by both governmental and private entities. The pharmaceutical industry uses low density polyethylene materials in pharmaceutical packaging due to their durable, flexible, and corrosion-resistant properties and suitability for pharmaceutical packaging, marking it as an essential material in pharma sector. For instance, in May 2021, according to reports published by IQVIA Inc., a US-based pharmaceutical company, the projected total expenditure on pharmaceuticals in the US is anticipated to range between $380 to $400 billion by the year 2025, up from $359 billion in 2020, reflecting a compound annual growth rate of 0-3%. Therefore, the growing pharmaceutical industry is driving the growth of the low-density polyethylene market. Major companies operating in the low-density polyethylene market report are China National Petroleum Corporation, PetroChina Company Limited, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Sinopec Beijing Yanshan Company, Reliance Industries Limited, Mitsui Chemicals Inc., BASF SE, Repsol SA, INEOS Group Holdings SA, Dow Inc., Saudi Basic Industries Corporation, LyondellBasell Industries NV, LG Chem Ltd., Mitsubishi Chemical Corporation, Sumitomo Chemical Co. Ltd., PTT Global Chemical Public Company Limited, Braskem SA, Sasol Limited, Westlake Chemical Corporation, Borealis AG, DuPont de Nemours Inc., Huntsman Corporation, Formosa Plastics Corporation, Chevron Phillips Chemical Company LLC, Nova Chemicals Corporation, Qatar Petrochemical Company, National Petrochemical Company, Qatar Chemical Company Ltd., Versalis SpA

Rising Popularity Of Lldpe As Ldpe Substitute Constrains Market Growth

The rising popularity of Linear Low-Density Polyethylene (LLDPE) is expected to restrict the growth of the low-density polyethylene (LDPE) market. Linear Low-Density Polyethylene (LLDPE) acts as a substitute to low-density polyethylene (LDPE) with additional benefits such as high tensile strength and a higher degree of resistance from UV rays and other environmental factors when compared to low-density polyethylene (LDPE). According to an article by Plastivision, by 2023 the demand for LDPE for kitchen appliances is expected to reach 1.2 million metric tons only, whereas the demand for LLDPE for the making of industrial containers is expected to reach 3 million metric tons. Thus, the market for LDPE is negatively impacted owing to the high tensile strength and more flexibility offered by LLDPE as compared to LDPE.

Strategic Partnerships Drive Innovation And Recyclability In The Low-Density Polyethylene Market

Strategic partnerships are a key trend gaining popularity in the low-density polyethylene market. Major companies operate low-density polyethylene operations to enhance a company's competitive position, improve supply chain efficiency, and expand market reach. For instance, in July 2023, Siegwerk Druckfarben AG & Co. KGaA, a Germany-based producer of inks and coatings, partnered with Wildplastic GmbH, a Germany-based producer of recycled products, and Hamburg University of Technology (TU-Hamburg), a Germany-based research university. With this partnership, the companies aim to make plastic garbage more recyclable. One approach to doing this is to effectively deink the garbage that has been collected before it goes through the recycling extrusion process.

Innovation In Reduced Carbon Footprint Products

Major companies operating in the low-density polyethylene market are focused on introducing new innovative products with reduced carbon footprints to gain a competitive advantage. For instance, in May 2022, SABIC, a Saudi Arabia-based chemical manufacturing company, launched LNP ELCRIN WF0061BiQ PBT resin, produced from chemically upcycled ocean-bound PET bottles. This compound has the potential to reduce CO2 emissions by up to 14% and cumulative energy demand by up to 25% when compared to glass fiber. It is a potential material for consumer electronics applications such as computer fan housings, vehicle seats, electrical connectors, and enclosures.

Repeats Group Bv Expands Its Footprint In The Italian Market Through Acquisition Of Polimero Srl

In September 2022, Repeats Group BV, a plastics recycling platform based in the Netherlands acquired Polimero Srl for an undisclosed amount. The acquisition enables Repeats Group to further penetrate the Italian market with high quality recycled resin. Polimero Srl is an Italian manufacturer of recycled low-density polyethylene (LDPE). Asia-Pacific was the largest region in the low-density polyethylene market in 2023. North America was the second-largest region in the global low-density polyethylene market. The regions covered in the low-density polyethylene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the low-density polyethylene market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The low-density polyethylene (LDPE) market consists of the sales of rigid and soft low-density polyethylene. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The low-density polyethylene (LDPE) market research report is one of a series of new reports from The Business Research Company that provides low-density polyethylene (LDPE) market statistics, including low-density polyethylene (LDPE) industry global market size, regional shares, competitors with a low-density polyethylene (LDPE) market share, detailed low-density polyethylene (LDPE) market segments, market trends and opportunities, and any further data you may need to thrive in the low-density polyethylene (LDPE) industry. This low-density polyethylene (LDPE) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Polyethylene Terephthalate Market Definition And Segments

Polyethylene terephthalate is a high-gloss, crack-resistant transparent plastic. These are general-purpose thermoplastic polymers produced by the reaction of mono ethylene glycol (MEG) and purified terephthalic acid (PTA) and are known for their excellent combination of mechanical, thermal, chemical, and dimensional stability. The main product types of polyethylene terephthalate are virgin and recycled. Recycling is the process of reusing something after undergoing a series of changes or treatments. The applications are beverages, sheets & films, consumer goods, food packaging, and others (cosmetic bottles and household products). The end-use industries are packaging, electrical & electronics, automotive, construction, and others (material handling and strapping). The polyethylene terephthalate market covered in this report is segmented – 1) By Product Type: Virgin, Recycle 2) By Application: Beverages, Sheets And Films, Consumer Goods, Food Packaging, Other Applications 3) By End-User Industry: Packaging, Electrical And Electronics, Automotive, Construction, Other End Uses Industries The polyethylene terephthalate market size has grown strongly in recent years. It will grow from $43.22 billion in 2023 to $47.3 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased demand for packaged foods, increased automotive production, and increased manufacturing of plastics products. The polyethylene terephthalate market size is expected to see strong growth in the next few years. It will grow to $67.13 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to rising demand from the packaging industry, increasing demand for ready-to-eat products, and rising urbanization will drive the growth. Major trends in the forecast period include setting up new recycling plants, partnerships and collaborations, bio recycling of pet, and investments for expansion of facilities.

Growing Appetite For Polyethylene Terephthalate (PET) In Food And Beverage Packaging Spurs Market Expansion

The rising demand for polyethylene terephthalate in food and beverage packaging, such as carbonated soft drink packaging, contributed to the growth of the polyethylene terephthalate market. The increasing demand for bottled drinks and glass and metal container replacements finds no better alternatives to polyethylene terephthalate due to its versatility in shape and size. According to the Plastics Industry Association, a US-based plastic industry association, plastics manufacturing shipments saw a 0.9% increase in 2020 and observed a 2.2% increase in 2021. The rising demand in the food and beverage packaging industry increased the demand for polyethylene terephthalate during the historic period, driving the market.

Surging Automotive Demand Fuels Growth In The Polyethylene Terephthalate (PET) Market

The increasing demand from automobiles is expected to propel the growth of the polyethylene terephthalate market going forward. The automotive industry refers to a vast and multifaceted sector that encompasses the design, development, manufacturing, marketing, and sales of motor vehicles. Polyethylene terephthalate (PET) is a versatile thermoplastic polymer used in automobiles due to its versatility, durability, and resistance to various environmental factors. It plays a significant role in both the interior and exterior components of modern vehicles, contributing to their performance, safety, and aesthetic appeal. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, according to Brand Finance PLC, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase compared to both 2021 and 2020. Therefore, increasing demand from automobiles is driving the growth of the polyethylene terephthalate market. Major companies operating in the polyethylene terephthalate market report are Indorama Ventures Public Company Limited, Far Eastern New Century Corporation, Alpek S.A.B de C.V, Reliance Industries Limited, SABIC, Nan Ya Plastics Corporation, Lotte Chemical Corporation, China Petroleum & Chemical Corporation, BASF SE, LyondellBasell, Isan Exim Plastotech Private Limited, Overseas Polymers Pvt Ltd., G Polyplast Industries, Zydex Industries, China Resources (Holdings) C0 Ltd., Xinjiang Blue Ridge Tunhe Sci.&Tech. Co Ltd., Equipolymers, Neo Group Uab, and Sibur Holding Pjsc, MOL Group, Polief, JBF Industries, LADA-LIST, FibroGreenPlast, Trident Plastics Inc., Applied Plastics Co., Inc., CS Hyde Company, Ensinger Penn Fiber Inc., Calpex Plastics, Industrial Custom Products, Meyer Plastics, Inc., Plastic Depot, Eastman Chemical Company, Alfa S.A.B. de C.V., Repro Plastics Canada Inc., Farletza S.A., Raymond Huard, Opp Film SA, Companhia Integrada Textile De Pernambuco Citepe, I.V.L Dhunseri Polyester Co., Compania Ecologica Gw S.A.C., Schenker Peru Srl, Horizon Technologies FZE, Astra Polymers, Equate Petrochemical Company, Pepson Plastics, Constantia Flexibles Corporation, Nampak.

Stringent Plastic Regulations Pose Challenges For The Polyethylene Terephthalate Market Amid Global Environmental Concerns

Strict regulations on the use of plastic are a major challenge in the polyethylene terephthalate market. Governments across the world are imposing restrictions on plastic products such as bottles and single-use plastics and are raising awareness about recycling plastic materials. For instance, in June 2022, the US Interior Department, the executive department of the US federal government announced that it will ban the sale of single-use plastic on public lands, national parks by 2032. Furthermore, according to the Federation of Indian Chambers of Commerce and Industry, India produces about 33 million pounds of plastic waste each day, and 60 percent of it is recycled. That’s approximately 24 pounds of waste per person per year, compared with 62 pounds globally. Imposing strict regulations on manufacturing and recycling plastic products has a negative impact on the polyethylene terephthalate market.

Growing Environmental Concerns Drive Adoption Of Bio-Based Pet In Packaging And Beyond

Major companies are increasingly manufacturing bio-based PET using partially recyclable materials. Bio-based PET is a lightweight, recyclable, biodegradable, and reusable bioplastic material derived from biomass. It consists of 30% plant-derived ethanol glycol and 70% terephthalic acid derived from fossils. This is also used for the packaging of soft drinks, alcoholic beverages, food products, cosmetics, pharmaceutical products, and edible oils. The desire to use environmentally friendly products and stringent regulations have encouraged the use of bio-friendly products in industries and have resulted in an increased demand for bio-based PET. For instance, Eastlon consists of 30% renewable raw materials. Bio-PET has the same mechanical and thermal properties as fossil PET as a drop-in bioplastic. Applications include transparent packaging and bottles. Eastlon is 100% recyclable. A demonstration plant with an expected capacity of 18,000 tons of biomass will be built in Ontario (Canada) and will start producing 100% bio-based PET bottles by 2020.

Strategic Partnerships Drive Sustainability And Market Expansion In The Polyethylene Terephthalate (PET) Industry

Major companies operating in polyethylene terephthalate are adopting a strategic partnership approach to enhance their capabilities, expand their market reach, and stay competitive. These strategic partnerships can take various forms and have several objectives. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in October 2022, Indorama Ventures, a Thailand-based petrochemical company, partnered with Coca-Cola Beverages Philippines Inc., a US-based beverage company. With this partnership, they aim to open the largest PET recycling plant to reduce plastic waste, close the loop on the PET lifecycle, meet the growing demand for recycled PET, create jobs, boost the local economy, and address the challenge of plastic waste. The new PET recycling plant is a significant investment in sustainability and will help to make a positive impact on the environment.

Indorama Ventures Acquired Carbonite's Texas

In June 2021, Indorama Ventures a Thailand-based company engaged in sustainable chemicals acquired CarbonLite’s Texas for an undisclosed amount. With this acquisition, IVL expands its U.S. recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025. CarbonLite’s Texas is a US-based company engaged in PET Recycling Facility. Asia-Pacific was the largest region in the polyethylene terephthalate market in 2023. North America was the second-largest region in the global polyethylene terephthalate market. The regions covered in the polyethylene terephthalate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the polyethylene terephthalate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain The polyethylene terephthalate market consists of the sales of polyethylene terephthalate used in the production of PET bottles and jars, carpet, clothing, industrial strapping, rope, and automotive parts. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The polyethylene terephthalate market research report is one of a series of new reports from The Business Research Company that provides polyethylene terephthalate market statistics, including polyethylene terephthalate industry global market size, regional shares, competitors with a polyethylene terephthalate market share, detailed polyethylene terephthalate market segments, market trends and opportunities, and any further data you may need to thrive in the polyethylene terephthalate industry. This polyethylene terephthalate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Oxygen Market Definition And Segments

Oxygen is a colorless, non-metallic gas that is highly reactive in nature. Oxygen forms oxides with many compounds and other elements. The oxygen is used in various applications, such as steel mills to oxidize unwanted impurities in steel. Oxygen is also used in the food industry, medical oxygen for respiration, and oxy-acetylene torches. The main product types of oxygen are medical oxygen, industrial oxygen, and other product types. Medical oxygen is high purity oxygen that has been used for medical treatments and has been developed for use in the human body. Medical oxygen cylinders contain only high purity oxygen gas; no other gases are permitted in the cylinder to avoid contamination. The various applications are cosmetics, pharmaceuticals, automobiles, mining, and mineral processing applications. The various applications are the metallurgical industry, chemical industry, health care industry, and other applications. The oxygen market covered in this report is segmented – 1) By Product: Medical Oxygen, Industrial Oxygen, Other Product Types 2) By Form: Companion Animals, Livestock 3) By Application: Cosmetics, Pharmaceutical, Automobiles, Mining And Mineral Processing, Healthcare, Other Applications 4) By End-User Industry: Metallurgical Industry, Chemical Industry, Health Care Industry, Other End-User Industries The oxygen market size has grown rapidly in recent years. It will grow from $39.28 billion in 2023 to $44.3 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to strong economic growth in emerging markets, a rise in industrialization, an increased demand for medical oxygen due to COVID-19, an increasing focus on home healthcare and an increasing demand from the aerospace industry. The oxygen market size is expected to see rapid growth in the next few years. It will grow to $70.65 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to increasing government support, an increasing aging population, rising air pollution levels and an increasing demand for oxygen from the healthcare industry. Major trends in the forecast period include launch of IoT (internet of things)-enabled medical oxygen plants, increasing investments, advancements in oxygen generators, the emergence of high-flow nasal therapy, launch of air separation plants and strategic shift to portable oxygen concentrators.

Rising Prevalence Of Respiratory Diseases Drives Growth In The Oxygen Market

The increasing prevalence of various diseases related to breathing problems has contributed to the global oxygen market’s growth by increasing the use of oxygen for medical purposes. Diseases such as Chronic obstructive pulmonary disease (COPD) are more prevalent in the geriatric population. COPD is a type of obstructive lung disease that results in long-term breathing problems. COPD requires the use of an oxygen concentrator, which is a device that improves the level of oxygen in the blood of patients and addresses their breathing problems. According to the World Health Organization (WHO), in 2022, the number of persons aged 80 years or older is expected to triple by 2050 to reach 426 million. Thus, the increased number of such cases has spurred the demand for portable oxygen concentrators, which is therefore driving the oxygen market’s growth.

Environmental Pollution's Impact Driving Demand In The Oxygen Market

The increase in daily exposure to environmental pollution is expected to propel the growth of the oxygen market going forward. Environmental pollution refers to the introduction of harmful substances or contaminants into the natural environment, such as air, water, or soil that can cause adverse effects on living organisms, ecosystems, and the overall quality of the environment. Increased oxygen exposure can help mitigate the adverse effects of environmental pollution by supporting the body's antioxidant mechanisms and promoting better lung function and reduce greenhouse gas emissions. For instance, in January 2021, according to Our World in Data, a UK-based scientific publication company, air pollution is responsible for millions of deaths each year and contributes to 11.65% of deaths globally. Therefore, the increase in daily exposure to environmental pollution is driving the growth of the oxygen market. Major companies operating in the oxygen market report are Air Liquide, The Linde Group, Mitsubishi Chemical Holdings Corporation, Air Products and Chemicals Inc., Yingde Gases, The BOC Group PLC, Air Water Inc., Messer Group GmbH, Iwatani International Corporation, Guangdong Huate Gas Co., Ltd., ResMed, Nidek Medical industries, Praxair Inc., Core Industrial Gases, Taiyo Nippon Sanso, AMCS Corporation, Flogas Britain Ltd., NGK Spark Plug Co, Ltd., WIKA Alexander Wiegand SE & Co. KG, SOL SpA, Supagas, GRASYS, Invacare corporation, Inogen Inc., Drive deviibiss industries, Oxair, SAID Group, Matheson Tri-Gas, Messer Gases del Peru S.A., BOC Healthcare, Gulf Cryo, Buzwair, Gas Africa, Afrox

Safety Concerns Hamper Growth In The Oxygen Market

Lack of safety measures adopted while handling oxygen in industries such as manufacturing, mining, etc. limits the growth of the oxygen market. Though oxygen is not flammable itself, it can cause other materials to catch fire. Excessive contact with liquid oxygen can cause severe skin and eye irritation and burns, as well as frostbite. Further, any leak in oxygen containers if kept in a poorly ventilated room can cause severe damage to life and property. For example, in June 2021, an oxygen tank explosion killed a man in Springfield, Missouri, the USA. Therefore, a lack of safety measures while handling oxygen negatively affects the oxygen market.

Innovative Oxygen Delivery Solutions Propel Growth In The Market

Companies involved in the market are developing innovative ways to utilize oxygen in various industries such as medical, chemical, etc. The rising need among patients across healthcare services acts as a driving force for companies to find new innovative ways to improve oxygen delivery. In order to improve oxygen delivery and to monitor the oxygen dosage of patients in respiratory care facilities, Camcon Medical introduced Binary Actuation Technology (BAT). BAT is an innovative solution that aids in providing accurate dosage and reduces wastage by providing cost-effective solutions to patients who require oxygen therapy. It is through such innovative methods that entities involved in the oxygen market are able to improve the economic benefit of the products.

Revolutionizing Healthcare With IoT-Enabled Medical Oxygen Plant

Major companies operating in the oxygen market are focusing on product advancements such as internet of things (IoT)-enabled medical oxygen plants for increased control and better reach to patients. An IoT-enabled medical oxygen plant is a sophisticated healthcare facility that produces and manages medical-grade oxygen using Internet of Things (IoT) technology. For instance, in November 2022, OXY AID, an India-based oxygen therapy equipment manufacturing company, launched India's first IoT-enabled medical oxygen plant on wheels, which generates oxygen and refills oxygen in cylinders, making them available. The mobile medical oxygen plant will make the last-mile delivery and availability of medical oxygen in rural areas possible and viable. The oxygen plant is a versatile model and a more efficacious system than the traditional cylinders. The plant is equipped with IoT technology, which enables remote monitoring and control of the oxygen plant.

Linde Bolsters Presence In India With Acquisition Of HPS Gases

In August 2021, Linde, an Ireland-based chemical company, acquired HPS Gases for the amount of INR 27.5 crores. This acquisition of HPS Gases will strengthen its position and help it grow as an organization. HPS Gases is an India-based manufacturer of industrial gases. Asia-Pacific was the largest region in the oxygen market in 2023. North America was the second-largest region in the global oxygen market. The regions covered in the oxygen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the oxygen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain The oxygen market consists of the sales of oxygen in cylinders, spray cans, and containers used as a catalyst. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The oxygen market research report is one of a series of new reports from The Business Research Company that provides oxygen market statistics, including oxygen industry global market size, regional shares, competitors with an oxygen market share, detailed oxygen market segments, market trends and opportunities, and any further data you may need to thrive in the oxygen industry. This oxygen market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.