COMMODITY PLASTIC MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Commodity Plastic Market, By Type (PE, PP, PVC, PS, ABS, and Others), By End-Use Industry (Packaging, Construction, Consumer Goods, Automotive, Electronics, Textiles, Medical & Pharmaceutical, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Mar 2024
Code : CMI6777
Pages :140
Formats :
Excel and PDF
Industry : Advanced Materials

Market ChallengesGrowing problems associated with plastic

The commodity plastic market faces several challenges. Plastic waste is a growing problem as most plastics are not biodegradable and incinerating plastic waste releases harmful emissions. Many countries have implemented policies to reduce plastic usage which impacts demand. Volatility in oil prices also poses a challenge as plastics are produced from oil and gas. High oil prices increase production costs for plastic manufacturers. Substitute materials like paper and bioplastics are growing in popularity as more brands commit to eliminating single-use plastics.

Market Opportunities: Growing construction industry

The construction industry's demand for plastics continues to rise with growing infrastructure projects around the world. Medical applications of plastics also provide opportunities as more medical devices use plastics. Light-weighting of vehicles involve increasing plastic content which can boost demand. Advancements in recycling technologies may help address the plastic waste problem and create a sustainable supply of recycled plastic content.