New Research Study by MRFR Reveals that Commodity Plastic Market to Grow at 5.6% Annually in terms of Value from 2016 to 2022

Pune, India, 2017-Jun-27 — /EPR Network/ — Market Research Future published a cooked research report on Global Commodity Plastic Market that contains facts about the market’s past trend and growth since 2016 along with its predicted future information till 2022. The Global Commodity Plastic Market has been growing at the CAGR of 5.56 % from 2016 and is expected to continue the same till 2022.

Although commodity plastics have a large number of advantages, the most important is their versatility. The increasing need for high standard performance plastic across all modern applications is driving the growth of Commodity Plastic Market. This has also resulted in the development of newer and improved application and performance properties; commodity plastic that are fast, easy, and low cost are in demand. Such newly developed commodity plastic include fast curing polyethylene and polyurethanes, PVC and PET and others.

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Market Key Players:

The key players in Global Commodity Plastic Market report included are:

• BASF SE
• The Dow Chemicals Company
• SABIC
• Arkema SA
• Mitsui Chemicals
• LG Chemicals
• Mitsubishi Chemicals Holdings Corporation

The Global Commodity Plastic Market has grown at a CAGR of 4.7% in terms of volume and 5.6% in terms of value, during the period 2016-2022. The factors driving the growth of the global market are advancements in the end user industries of commodity plastics, growing application industries, and increasing demand from Consumer goods and FMCG sectors.

Market Research Analysis:

The Global Commodity Plastic Market by type has been divided into polyethylene, polyethylene, polyvinyl chloride, polyethylene terephthalate, polystyrene and other, however, polyethylene has acquired the largest market share of 31% of total market with an estimated value of USD 110.8 billion in 2016 and expected to touch USD 155.9 billion by the end of forecasted year with a CAGR of 5.58%, followed by polypropylene and polyvinyl chloride.

Polyethylene (PE) is undoubtedly one of the most popular plastic across the globe which is majorly used in the plastic industries to manufacture plastic bottles, plastic toys, and grocery bags and also in bullet proof jackets. Along with this, PE also holds a significant role in other application industries such as packaging, electronics, automotive and many others. In the global commodity plastic market, polyethylene holds a largest market share of 31% in 2016 with an estimated value of USD 110.8 billion in 2016 and is expected to reach USD 155.9 billion by 2022 at a CAGR of 5.85%. Moreover, in terms of volume, the global demand for polyethylene in 2016 was 69.9 MMT and in poised to reach 93.7 MMT by 2022 with a CAGR of 5.01%. Geographically, Asia-Pacific holds the largest market share in terms of both value and volume during the forecast period.

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