Plastic Products Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Plastic Products Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The plastic products market has experienced significant growth in recent years. It is projected to increase from $1,061.89 billion in 2023 to $1,142.21 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.6%. This growth during the historical period can be attributed to the versatility and adaptability of plastics, their substitution for traditional materials, the growth of industrialization and manufacturing, adoption in the automotive industry, innovations in the packaging sector, and a boom in consumer electronics.
What Is the Expected Size of the Global Plastic Products Market, and How Fast Will It Grow?
The plastic products market is anticipated to experience strong growth in the coming years, projected to reach $1,512.15 billion by 2028, with a compound annual growth rate (CAGR) of 7.3%. The growth during the forecast period can be attributed to the development of bio-based and biodegradable plastics, the emergence of smart and functional plastics, a focus on plastic waste management, changes in consumer preferences, preparedness for global health crises, and efforts to reduce single-use plastics.
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What Is Accelerating Growth in the Plastic Products Market?
The increasing construction and building activities are expected to significantly drive demand in the plastic products market in the future. These activities encompass a broad range of tasks related to building structures, developing skills, and fostering teamwork. Plastic materials, such as PVC (polyvinyl chloride) and PEX (cross-linked polyethylene), are frequently utilized in plumbing systems. Their durability, corrosion resistance, and cost-effectiveness make them ideal choices for water supply and drainage systems in residential, commercial, and industrial buildings.
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Who Are the Major Players Influencing the Plastic Products Market’s Growth?
Key players in the plastic products market include Exxon Mobil Corporation, BASF SE, The Dow Chemical Company, Saudi Basic Industries Corporation, LyondellBasell Industries Holdings B.V., Thyssenkrupp AG, 3M Company, Amcor Limited, Berry Global Group Inc., Sekisui Chemical Co. Ltd., Avery dennison, Sealed Air Corporation, Brookfield Asset Management, Aptar Group, Laird Plastics Inc., PT Tech Inc., CeramTec North America LLC, New Process Fibre Company Inc., Liberty Plastics Inc., Applied Plastics Co. Inc
What Are the Latest Trends Influencing Plastic Products Market Size?
Leading companies in the plastic bottle market are concentrating on creating innovative products, such as biodegradable water bottles, to establish a strong market presence. Biodegradable water bottles are designed to decompose naturally over time, minimizing environmental impact.
How Is The Global Plastic Products Market Segmented?
1) By Type: Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Polystyrene Foam Products, Urethane And Other Foam Product, Other Plastics Product
2) By Technology: Injection Molding, Extrusion Molding, Blow Molding, Other Technologies
3) By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Other End Users
Geographical Insights: Asia-Pacific Leading The Plastic Products Market
Asia-Pacific was the largest region in the market in 2023. North America was the second largest region in the market. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition Of The Plastic Products Market?
Plastic products encompass a broad category of items made from materials, whether artificial or natural, that can be shaped while still pliable and then hardened to retain their intended form. The manufacturing processes employed in producing plastic products include compression molding, extrusion molding, injection molding, blow molding, and casting.
The Plastic Products Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Plastic Products Market Report: Trends, Opportunities, Strategies, and More
The Plastic Products Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into plastic products market size, plastic products market drivers and trends, plastic products competitors’ revenues, and plastic products market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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Oliver Guirdham
The Business Research Company
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