Billion-Dollar Commodity Plastics Market Analysis| APAC to Dominate Market Growth through 2023-2027
The Commodity Plastics Market is estimated to exhibit growth at a CAGR of 6.11% between 2022 and 2027 followed by a humongous revenue growth of USD 159.09 Bn. The increasing demand for packaging materials, increasing demand for commodity plastics from developing countries, and diverse applications of plastics are some of the paramount elements of the market advancements.
Technavio's Senior Analyst quoted ~"In recent years, the demand for packaging materials has increased in various industries, and increasing demand for packaging material is propelling the market advancements, as plastic packaging for e-commerce and grocery delivery demand has soared like never before."
Snapshot: APAC to lead the Commodity Plastics Market
APAC to lead the market landscape of the Commodity Plastics Market
When it comes to the fastest growing topography, it has been observed that 32% to the growth of the global commodity plastics market during the forecast period as emerging markets of China and India are anticipated to be major revenue contributors to the market in this region primarily due to the rapidly expanding e-commerce, fast-moving consumer packaged goods (FMCG), consumer electronics, and personal care end-use industries
Technavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. of the region, discover all the insights by downloading our sample report on the Commodity Plastics Market with data-backed analysis.
Leading companies such as BASF SE, Braskem SA, Chevron Corp., Covestro AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Group, Hanwha Corp., INEOS Group Holdings SA, LG Chem Ltd., Lotte Chemical Corp., LyondellBasell Industries NV, Mitsubishi Chemical Corp., OMV Aktiengesellschaft, PTT Global Chemical Public Co. Ltd., Reliance Industries Ltd., Saudi Basic Industries Corp., Sumitomo Chemical Co. Ltd., and TotalEnergies are some of the major market participants and comes with wide array of offerings.
Technavio has been monitoring the Commodity Plastics Market growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking along with profiled analysis of the market pioneers.
Commodity Plastics Market: Key Highlights of the Report for 2023-2027
