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Plastic Materials and Resin Market in 2021-Opportunities and Strategies-Global Forecast to 2030
The Business Research Company's Plastic Materials and Resin Market 2021-Opportunities and Strategies-Global Forecast to 2030
London, Greater London, UK, November 18, 2021/EINPresswire.com/- New developments in the packaging industry, such as CO2RE foaming technology, big data, and IoT integration, are expected to drive the plastic materials and resin market forward. Convenience features are being introduced, such as resale packaging, easy opening, self-supporting pouches, and smaller packaging sizes for single servings, and more promotional packaging and brand extensions are being developed to ensure customer loyalty. Similarly, recently developed biodegradable plastics can be naturally degraded by microorganisms such as bacteria, algae, and fungi. These developments in packaging will increase the consumption of plastics and drive market growth.
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In 2020, the global plastic materials and resin market value is close to 466.2 billion U.S. dollars, and has grown at a compound annual growth rate (CAGR) of 1.2% since 2015. The plastic materials and resin market is expected to grow from US$466.2 billion in 2020 to US$659.2 billion in 2025, a growth rate of 7.2%. The plastic materials and resin market is expected to grow at a compound annual growth rate of 3.5% from 2025, and reach 784.2 billion US dollars in 2030.
Read more about the global plastic materials and resin market report https://www.thebusinessresearchcompany.com/report/plastic-materials-and-resins-market
Plastic materials and resin manufacturers are using recycled plastic products as raw materials to reduce raw material costs, reduce carbon footprint, and reduce dependence on other raw materials such as oil and natural gas. Recycled plastics have almost the same characteristics as virgin plastics (plastic materials produced without using any recycled plastic products) and contain only a small amount of impurities. In addition, the carbon footprint of recycled plastics is 85% smaller than that of new plastics. The cost of recycled plastics is 20-25% lower than that of plastics made from virgin raw materials such as oil and natural gas. For example, Adidas collaborates with Parley for the Oceans to produce products made from recycled ocean plastics. The US manufacturer of cleaning products, "Method Products", is using plastics recovered from the ocean and preventing the manufacture of new plastics through recycling.
The major players in the global plastic materials and resin industry are LyondellBasell, Industry Holdings BV, Total SE, Ineos AG, Lotte Chemical Corporation, BASF SE.
The Asia-Pacific region is the largest region in the plastic materials and resin market, accounting for 51.6% of the total in 2020. Followed by North America, Western Europe and other regions. Looking ahead, the fastest-growing regions for the plastic materials and resin markets will be the Middle East and South America, and the compound annual growth rate for 2020-2025 will reach 13.1% and 10.2%, respectively. Followed by Africa and Eastern Europe, the compound annual growth rate of these markets is expected to be 9.8% and 9.1%, respectively.
TBRC's global plastic materials and resin market report is divided into polypropylene plastic materials and resins by type, high-density polyethylene, polyvinyl chloride, polyethylene terephthalate, polyurethane, low-density polyethylene, polystyrene plastic Materials and resins, other plastic materials and resins, enter the chemical industry, coating and printing industry, electronics industry, food and pharmaceutical industry from the end user industry.
Plastic materials and resin market in 2021-by type (low-density polyethylene, high-density polyethylene, polypropylene, polystyrene, polyvinyl chloride, polyethylene terephthalate, polyurethane) by end user industry (packaging , Automotive, construction, electrical and electronics, consumer) commodities, furniture and bedding, other end users), and by region, opportunity and strategy-the global forecast to 2030 is one of a series of new reports from business research companies that provide Plastic materials and resin market overview, forecasting the market size and growth of the entire market of plastic materials and resins, plastic materials and resin market segmentation and geography, plastic materials and resin market trends, plastic materials and resin market driving factors, limiting factors, leading competition The opponent's income, profile and market share.
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