Plastics Market Factors Hindering The Growth Rate, Challenges and Restraints For Business Development by 2025

San Francisco, 11 March 2019: The Report Plastics Market Size, Share & Trends Analysis Report By Product (PE, PP, PU, PVC, PET, Polystyrene, ABS, PBT, PPO, Epoxy Polymers, LCP, PC, Polyamide), By Application, and Segment Forecasts, 2019 - 2025

The global plastics market size is expected to reach USD 721.14 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.0% during the forecast period. Increasing automotive production and subsequent rise in plastics consumption in automotive component fabrication because of regulatory policies pertaining to vehicular weight reduction and fuel efficiency will drive the plastic market over the forecast period. Plastics facilitate fuel saving in automotive applications on account of reduced car weight and density as compared to conventional materials such as metals or rubber.

Since the last decade, there has been a substantial demand for the products as replacement for metals and ferrous alloys across various industries such as consumer goods, automotive, and industrial machinery. The growth of the market criticality lies on various factors such as ever-increasing requirement of end users in terms of product specification and versatility influencing consumption dynamics. Other factors such as socio-political, production process, and feedstock availability events also have a significant impact on industry trends.

Rapidly developing construction and automobile markets in Asia Pacific will increase the demand for plastics in interiors, exteriors, and under hood components. Its major applications include under hood components in the automotive industry, building interior & exteriors in the construction and infrastructure industries, and various applications in electronics and durables.

Asia Pacific is likely to witness the highest growth in the construction industry across the globe, wherein China is at the forefront of the growth. Growing population coupled with rapid industrialization and urbanization in emerging economies have influenced regional governments to increase their construction spending in order to cater to growing infrastructure needs. Increasing construction spending by governments, particularly in China and India, will fuel the demand in infrastructure and construction applications.

Plastics are also witnessing substantial growth in the pipes and fittings segments on account of their lightweight, long life span, corrosion resistance, and reduced cost structures.

Access Research Report of Plastics Market@ www.grandviewresearch.com/industry-analysis/global-plastics-market

Further key findings from the report suggest:

·       Raw materials used in plastic include hydrocarbon fuels (coal, natural gas and crude oil), salt and sand. PE production in North America is dependent mainly on natural gas, which is available at a very low cost in the region. PE producers in the region are, thus, highly competitive

·       Automotive is the fastest growing application segment in the global arena during the forecast period. Increasing incorporation of plastics as opposed to metals & alloys in automotive components has been a major factor contributing to the growth of the segment

·       Polyether Ether Ketone is expected to witness a CAGR of 9.4% in terms of volume during the forecast period. They are widely used in engineering applications owing to their characteristics, which include being colorless and organic

·       PVC is one of the major plastic constituents in various building materials and construction activities. The plastic is modified as per requirement to meet structural designs and application specifications.

Browse more reports of this category by Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins

Grand View Research has segmented the global plastics market on the basis of product, application, and region.

Plastics Product Outlook (Volume, Million Tons; Revenue, USD Million, 2014 - 2025)

·         Polyethylene (PE)

·         Polypropylene (PP)

·         Polyurethane (PU)

·         Polyvinyl chloride (PVC)

·         Polyethylene terephthalate (PET)

·         Polystyrene (PS)

·         Acrylonitrile butadiene styrene (ABS)

·         Polybutylene terephthalate (PBT)

·         Polyphenylene Oxide (PPO)

·         Epoxy Polymers

·         Liquid Crystal Polymers

·         Polyether ether ketone (PEEK)

·         Polycarbonate (PC)

·         Polyamide (PA)

·         Polysulfone (PSU)

·         Polyphenylsulfone (PPSU)

·         Others

Plastics Application Outlook (Volume, Million Tons; Revenue, USD Million, 2014 - 2025)

·         Packaging

·         Construction

·         Electricals

·         Automotive

·         Medical Devices

·         Agriculture

·         Furniture & Bedding

·         Consumer Goods

·         Others

Plastics Regional Outlook (Volume, Million Tons; Revenue, USD Million, 2014 - 2025)

·         North America

·         Europe

·         China

·         Asia Pacific

·         Central & South America

·         Middle East & Africa

Access Press Release of Plastics Market@ www.grandviewresearch.com/press-release/global-plastics-market-analysis

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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