Europe Commodity Plastic Market, By Type (Polyethylene (PE), Polyvinyl Chloride (PVC), Polystyrene (PS), Polypropylene (PP), Polymethyl Methacrylate (PMMA), and Others), Type of Plastic (Reusable and Recyclable, Recyclable), Application (Packaging, Automotive, Electronics, Consumer Goods, Construction, Textile, Medical and Pharmaceutical and Others), Country (Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe), Industry Trends and Forecast to 2029.
Market Analysis and Insights of Commodity Plastic Market
The commodity plastic market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to grow at a CAGR of 3.3% in the above-mentioned forecast period.
Commodity plastics are basically the plastics which are used in large volume for regular household applications. These plastics find its use in a broad variety of applications including trash containers, clothing, packaging film, disposables and others. They are not utilized in critical service environments, and therefore do not need high mechanical strength. So, these plastics are relatively cheap, lighter, resistant to abrasion, structurally stable and exhibit lower mechanical properties than the engineered plastics.
The rise in the industrialization, the development of health care infrastructure and increasing construction and automotive sectors are the root cause fueling up the market growth rate in the forecast period of 2022 to 2029. In addition to this, the factors expected to cushion the growth of the commodity plastic market in the forecast period are the rising need for flexible packing because of lower cost, availability, durability and reliability than the rigorous packaging in the packaging industries and growing metal prices which will further carve the way for the growth of market in the above-mentioned forecast period. Moreover, the increasing demand for commodity plastics in FMCG sector for usage in packaging of beverages, pharmaceuticals, personal care products or others are further expected to cushion the overall markets growth in the forecast period of 2022 to 2029. On the other hand, the amplified environmental concerns over plastic waste is expected to impede the growth of the commodity plastic market. However, the growing awareness about harmful effects of non-biodegradable plastic are also projected to hamper market’s overall growth.
Furthermore, the growing prospects in the advancing countries are estimated to generate numerous opportunities for the market in the above-mentioned forecast period. On the flip side, the government regulations on the usage of plastics for packaging is projected to pose as a major challenge to the growth of the commodity plastic market.
This commodity plastic market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on commodity plastic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Europe Commodity Plastic Market Scope and Market Size
The commodity plastic market is segmented on the basis of type, type of plastic and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the commodity plastics market is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), polymethyl methacrylate (PMMA), and others. Polyethylene is further sub-segmented into HDPE (high density polythene), LDPE (low density polythene), LLDPE (Linear low density polythene), UHMW (ultra-high molecular weight polyethylene), and polyethylene terephthalate (PET). Polyvinyl chloride (PVC) is further segmented into rigid PVC and flexible PVC. Polypropylene (PP) is further segmented into polypropylene homo-polymers (PPH) and polypropylene co-polymers (PPC).
- On the basis of type of plastic, the commodity plastics market is segmented into reusable and recyclable.
- On the basis of application, the commodity plastics market is segmented into packaging, automotive, electronics, consumer goods, construction, textile, medical and pharmaceutical and others. Packaging is further segmented into film wraps, plastic bags, industrial and household chemical containers, milk jugs, cereal box liners and others.
Commodity Plastic Market Country Level Analysis
The commodity plastic market is analyzed and market size, volume information is provided by type, type of plastic and application as referenced above.
The countries covered in the commodity plastic market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.
Germany is expected to dominate market share due to presence of key players in region and expansion of automotive sector whereas high pace in technological advancement and rising demand for medical device packaging due to rising medical disorder and rising geriatric population in the above-mentioned forecast period.
The country section of the commodity plastic market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Commodity Plastic Market Share Analysis
The commodity plastic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to commodity plastic market.
Some of the major players operating in the commodity plastic market report are Exxon Mobil Corporation., Sinopec Canada Energy Ltd, Chevron Phillips Chemical Company., LLC, BASF SE, Dow, DuPont, LyondellBasell Industries Holdings B.V., Borealis AG, Braskem, Eni S.P.A, Formosa Plastics Corporation, Sumitomo Chemical Co., Ltd., GAIL (India) Limited, Hanwha Group, INEOS, LG Chem,., LOTTE Chemical Corporation, Mitsubishi Chemical Corporation, Nova Chemicals Corporation, pttgcgroup, Reliance Industries Limited, Sabic, Sumitomo Chemical Co. Ltd., and Westlake Chemical Corporation among others.
Recent Developments
In December 2020, LyondellBasell announced that China's Kaijin Blue Sky Energy (Zhejiang) has chosen their technology for two PP facilities. Spheripol technology will be used in a 600,000 t/y PP plant, while the Spherizone method will be used in a 300,000 t/y PP facility. The plants will be erected in Zhejiang province's Wenzhou.
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