Delvens has released a new research study titled "Top 10 Plastics Market" analysis by the following subjects: Industry size, share, growth, segmentation, manufacturers and innovations, major trends, market drivers, restraints, regulations, distribution methods, opportunities, strategies, prospective road maps, and yearly forecast till 2030′′. The purpose of the market research study is to thoroughly investigate the industry in order to gain knowledge of the industry and its economic potential. report also looks at SWOT and Porter's Five Forces Analysis, as well as crucial statistics like expenditure, costs, revenue, and end-clients.
The Top 10 Plastics market size was estimated at USD 503.11 billion in 2023 and is projected to reach USD 777.21 billion in 2030 at a CAGR of 6.41% during the forecast period 2023-2030.
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Although they generally incorporate additional materials, plastics are high molecular mass organic polymers. The majority of the time, they are synthetic and made from petrochemicals. However, the current emphasis on the environment has led to an increase in the number of plastics made from renewable resources, such as cellulosic from cotton linters and polylactic acid made from corn.
Due to their comparatively low cost, simplicity of production, adaptability, and water resistance, plastics are now used in a wide variety of items. Plastic is used in everything, from basic items like paperclips to large ones like airplanes. Based on their availability and application, the top 10 most abundantly used plastics are polyethylene, polypropylene, polystyrene, polyethylene terephthalate, polyvinyl chloride, polycarbonate, acrylonitrile butadiene styrene, polyoxymethylene, polyamide and polyurethane.
Top 10 Plastics Market Segmentations:
Based on Type:
• polyethylene,
• polypropylene,
• polystyrene,
• polyethylene terephthalate,
• polyvinyl chloride,
• polyamide,
• polyurethane and Many More
Based on End User:
• building & construction,
• electronics & consumer,
• automotive,
• textile,
• packaging and More
Top 10 Plastics Market Competitive Landscape:
Arkema, BASF SE, Braskem, Celanese Corporation, Chevron Phillips Chemical Co., LLC, Covestro AG, Dow Inc, Ducor Petrochemicals, DuPont de Nemours, Inc, Eastman Chemical Company, Evonik Industries, Exxon Mobil Corporation, Formosa Plastic Corporation, INEOS, Lotte Chemical Corporation, Mitsui & Co. Plastic Ltd., Reliance Industries Limited, Repsol, SABIC, Sumitomo Chemical Co., Ltd., Toray Industries, Inc.
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Plastic consumption is being driven by the food and beverage sectors' expanding requirement for packaging materials. product manufacturers seek packaging that guards against contamination and deterioration of product quality. Demand is being fuelled by plastic's ability to act as a shield between food products and the outside world. Moreover, their increased demand in textile, electrical and electronic, automotive, and consumer goods sectors is driving the growth of the market further.
Recent Developments
• In August 2023, A joint venture agreement was formed by the biopolymer manufacturer Braskem and SCG Chemicals to create bio-ethylene from bio-ethanol dehydration and to market Braskem's "I'm green" bio-based Polyethylene.
• In June 2023, BASF set up a new polyethylene plant in Zhanjiang Verbund site in China. The brand-new facility, with a yearly capacity of 500,000 metric tons of PE, will meet China's rapidly expanding demand. In 2025, the facility is expected to begin operations.
Reasons to Acquire:
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Top 10 Plastics Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
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In addition to the market data for the Top 10 Plastics Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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