“Growth in key end-use industries, such as automotive, building & construction, packaging, electrical & electronics, and construction, drives the global top 10 plastics market”
The global top 10 plastics market is projected to reach USD 586.24 billion by 2021, at a CAGR of 6.84%. The market size is projected to grow at a CAGR of 4.68% to reach 332.4 million tons by 2021. The market in the Asia-Pacific region is driven by the rising disposable income and the growing population, which have led to the increased consumption of plastic products. Globally, the substitution of metal-based products with various plastic materials and the demand of lightweight plastic materials in various end-use industries are expected to further boost the growth of the top 10 plastics market. Availability of other polymer resins, which provide stiff competition to engineering plastics, and apprehensions regarding the disposal of plastic waste are major factors restraining the growth of the global top 10 plastics market.
“Polypropylene: The fastest growing type segment of the market”
Polypropylene (PP) is projected to be the fastest-growing type segment of the top 10 plastics market between 2016 and 2021, registering a CAGR of 9.33% by value. The rapid growth of this segment is attributed to polypropylene’s use in applications such as film & sheet, injection molding, fibers & raffia, and so on. Properties, such as low density, high stiffness, good transparency, and heat resistance among others, drive its demand globally. Polypropylene has advantages over PE, such as improved strength, stiffness, and higher temperature resistance, which make it the fastest-growing application segment of the top 10 plastics market.
“Textile: The fastest-growing application segment of the market”
Textile is the fastest-growing application segment of the global top 10 plastics market. The extensive use of polyamide, especially in the manufacturing of nylon (used in clothing), and high consumption of polyesters in the manufacturing of different types of fabrics are driving the global top 10 plastics market. The use of plastic materials in textile mills for tenter frames, looms, wear-resistant bearings, templates, patterns, work surfaces, and miscellaneous components is also likely to drive the demand in the textile application of the market.
“Asia-Pacific: The fastest-growing market for cross-linked polyethylene”
The Asia-Pacific region is the fastest-growing market for top 10 plastics, in terms of value and volume. Increasing investments by companies, especially in the automotive sector; the growing shift of production facilities to emerging economies; and strong industrial base in the construction sector are the major factors contributing to the growth of the top 10 plastics market in this region.
The report also provides company profiles and competitive strategies adopted by the major market players, such as The Dow Chemical Company (U.S.), Borealis AG (Austria), ExxonMobil Chemical Company, Inc. (U.S.), Ach Foam Technologies (U.S.) Vinnolit GmbH & Co. KG (Germany), E. I. du Pont de Nemours and Company (U.S.), Polyplastics Co., Ltd. (Japan), Solvay SA (Belgium), SABIC (Saudi Arabia), and Huntsman Corporation (U.S.), among others.
The report covers the global top 10 plastics market and its applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments, such as type and application. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analyses ? industry analysis (industry trends), supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the top 10 plastics market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on top 10 plastics offered by the top players in the global top 10 plastics market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the global top 10 plastics market.
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for top 10 plastics across regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global top 10 plastics market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global top 10 plastics market.