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New York, According to a new market research report published by Global Insight Services “ commodity plastics market is expected to reach US$ XX bn by 2031 . Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Commodity plastics are plastics that are mass-produced for use in a wide variety of applications. They are typically made from petroleum-based feedstocks, and their properties are determined by the additives that are used during production. The most common commodity plastics are polyethylene, polypropylene, and polystyrene.
Top Key Players in Commodity Plastics market: Exxon Mobil, Sumitomo Chemical, Eastman Chemical Company, BASF SE, Westlake Chemical, Qatar Petroleum, Indian Oil, The Dow Chemical Company, SABIC, LG Chem, and Qenos Pty.
The key trends in commodity plastics technology are the development of new resins and additives, the use of recycled materials, and the use of renewable resources.The development of new resins and additives has led to the production of more durable and heat-resistant plastics. Recycled materials are being used more frequently in the production of commodity plastics, as they are more environmentally friendly and cost-effective. The use of renewable resources, such as plant-based plastics, is also becoming more common as companies strive to reduce their environmental impact.
The key drivers of the commodity plastics market are the ever-increasing demand for plastics in various industries and the need for cost-effective and lightweight materials. The use of commodity plastics has increased significantly over the past few years due to their superior properties such as durability, resistance to chemicals and high temperature, and flexibility.The automotive industry is one of the major consumers of commodity plastics. The use of plastics in automobiles helps in reducing the overall weight of the vehicle, which leads to better fuel efficiency. In addition, plastics are also used in the interiors of automobiles for a variety of applications such as dashboards, door panels, and seats.
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The commodity plastics market bifurcated on the basis of product type, end user, and region. On the basis of product type, it is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS) and others. By end user it is categorized into building & construction, packing, textile, electrical & electronics and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
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Key Questions answered in the report:
How is the market structured and what the key drivers and trends of this industry? How is the market segmented and what is the size of each segment? Which segments and geographies provide best growth opportunities? What's the competitive landscape and positioning of players in this market? What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
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