The Asia-Pacific plastics market will see a considerable growth of 3.6% during the forecast period. Asia-Pacific is one of the promising regions for the growth of the plastics industry. There is a growing trend toward innovative and cost-effective packaging materials in the emerging economies of the region, especially India and China.
The Indian retail market has attracted, and increased the presence of multinational firms and hence, encouraged the adoption of plastic packaging in the areas, including cosmetics, consumers’ products, and food & beverage. The rising disposable income and growing urbanization are also boosting the growth of organized retail which led to the demand for innovative and attractive packaging concepts.
A full report of Asia-Pacific Plastics Market is available at: https://www.omrglobal.com/industry-reports/asia-pacific-plastics-market
The ease of FDI is primarily encouraging the investors to invest in India, setting up manufacturing facilities across the Indian region. The 100.0% FDI was allowed in food processing and single-brand retail, and 51.0% in multi-brand retail. The ease of doing business in India has boosted the entry of foreign firms in India, which in turn, will leverage the production of personal care and food & beverage products in the country, and thereby will increase the adoption of plastic material.
Moreover, the pharmaceutical industry has significant use of plastics packaging as pharmaceutical packaging has an essential contribution to the various end-user application of pharmaceutical manufacturing, contract packaging, and retail pharmacies among others.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type and By Application
- Countries Covered- China, Japan, India, and Rest of Asia-Pacific
- Key Companies Profiled- Mitsubishi Chemical Corp., Reliance Industries Ltd., Sumitomo Chemical Co., Ltd., Kuraray Co. Ltd., and Toray Group
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Plastics Market – Segmentation
By Type
- Thermoplastics
- Thermosets
By Application
- Packaging
- Building & Construction
- Automotive
- Electrical & Electronics
- Household, Leisure & Sports
- Agriculture
- Others
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