Thermoplastics are increasingly adopted in building and construction, automobile, agriculture, oil and gas and other domains due to its versatility and wide range of applications. It is a material that softens and hardens reversibly on heating and cooling. Thermoplastics can be reused and can be effective for many purposes, for an instance, the intermolecular chains in thermoplastic polymers can be moulded in certain temperature zone to be commonly used for making pipes, bottles and plastic containers.
Global thermoplastics market is expected to grow at a moderate CAGR of 4.5% during the forecast period of 2018-2023. Packaging is the largest application market of thermoplastics, however, plastic use in agriculture is the fastest growing segment of thermoplastics growing at a modest rate during the forecast period. There are several factors that are driving the thermoplastics market such as growing applications of plastics that are used in various industries, technological advancement and innovation. Another factor that boost the growth of thermoplastic market is the cost efficiency compared to that of metal and alloy products. Plastic is very essential material in daily life. Higher demand from packaging and automobile segments are also motivating the market growth. However, growing environmental and health concern such as plastic pollution and toxins are restraining the market. Single use carry bag ban and other bans on plastic material in various geographies are other retraining factors into the growth of thermoplastic market.
The global thermoplastics market is segmented on the basis of product, application, and geography. Global thermoplastic market by product has been bifurcated into HDPE, LDPE, PET, PP, PS and PVC. Global thermoplastics market by geography has been divided into North America, Europe, Asia Pacific and Rest of the world. Major application of thermoplastics used across the globe includes packaging, building & construction, consumer goods, electronics and automobile application. Global production of thermoplastics and derivatives are on rise and is expected to boost in Asia-Pacific countries due to growing demand for polyethylene in emerging economies such as India, China and Korea. North America (U.S.A. and Canada), Europe (Western Europe and rest of Europe), APAC (India, China and Japan) are major geographies which included in this report.
North America has been dominating the thermoplastics market followed by Europe due to growing production capacities and rising demand for thermoplastics in varied domains. Rising production capacity resulted into the growth of applications in various end-user industries such as automobile, consumer goods, building and construction and so forth. However, availability of raw materials, and volatile crude prices and environmental concerns hinder the market growth. Growth in demand for thermoplastics by end users and economic gain are anticipated to provide opportunities for growth to key players.
Competitive landscape incudes market share analysis, Key company Analysis, Key strategies and corporate profiling. Companies profiled in the report are Arya Sasol Polymer Company, Asahi Kasei, BASF SE, Bayer AG, Braskem, Chevron Phillips, China National Petroleum Corporation, Dow Chemicals, DuPont, EQUATE, Evonik Industries, ExxonMobil Chemical Company, Formosa Plastics, INEOS, Jam Petrochemical Company, Lanxess, Lotte Chemical, Lyondell Basell Industries, Mitsubishi Chemical, PolyOne Corporation, PTT Public Company Limited, Reliance Industries Limited, Saudi Basic Industries Corporation, Shin-Etsu Chemical, Sumitomo Chemical, Toray Industries, Total petrochemical and Westlake Chemical.
- Global Thermoplastics Market Research and Analysis, By Product
- Global Thermoplastics Market Research and Analysis, By Application
- Global Thermoplastics Market Research and Analysis, By Region
The Report covers:
- Comprehensive research methodology of Global Thermoplastics
- This report also includes detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Global Thermoplastics
- Insights about market determinants which are stimulating the Global Thermoplastics
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.