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.
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
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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