Global Plastics Market is valued approximately at USD 560.64 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.4% over the forecast period 2020-2027. Plastics have witnessed an increasing product application scope in various industries like automotive, industrial packaging, construction, electrical & electronics and others, due to its unique qualities, such as durability, chemical & water resistance. Further, increasing investment in industrialization, rising urbanization and easy availability of plastic along with the customization has led the adoption of Plastics across the forecast period. For Instance: In Feb 2020, DSM expanded the capacity of its high-performance materials compounding plant in Evansville, IN., to meet increased regional demand for materials such as Akulon polyamide (PA) 6 and 66, Arnite PET/PBT, Arnitel thermoplastic copolyester (TPC), EcoPaXX PA 410, ForTii PA 4T/PPA and Stanyl PA 46. As per the World Bank data of 2019, China is the largest exporter of plastics, due to abundant availability of raw materials and the low cost of production in China,thus increasing the market globally. However, environmental degradation due to non-biodegradable plactics impedes the growth of the market over the forecast period of 2020-2027. Also, the advent of bio-based plastic drives the market growth, for instance Kolon Industries, partnered with SK Global Chemical to produce an eco-friendly biodegradable plastic product called PBAT for the production of recycled products using waste plastic as raw materials. With the favorable government initiatives for the recyclability of conventional materials, the adoption & demand for Plastics is likely to increase.

The regional analysis of global Plastics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europoe is the leading/significant region across the world in terms of market share owing to the easy availability, export of products around the world, developed automotive and well-established manufacturing base. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, urbanization and due to low cost of raw materials & labor many companies setting up their manufacturing base in Asia would create lucrative growth prospects for the Plastics market across Asia-Pacific region.

Major market player included in this report are:
BASF SE
SABIC
Dow Inc.
DuPont de Nemours, Inc.
Evonik Industries
Sumitomo Chemical Co., Ltd.
Arkema
Celanese Corporation
Eastman Chemical Company
Chevron Phillips Chemical Co., LLC

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Polyethylene (PE)
Polypropylene (PP)
Polyurethane (PU)
Others
By Application:
Injection Molding
Blow Molding
Roto Molding
Others
By End-Use:
Packaging
Construction
Electrical & Electronics
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year 2017, 2018
Base year 2019
Forecast period 2020 to 2027

Target Audience of the Global Plastics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors