The global thermoplastics market is growing at a CAGR of nearly 9.5% during the forecast period. The major factors that are accelerating the market growth include rising application in consumer goods and electronics industries and growth in the packaging industry. As per the Flexible Packaging Association (FPA), in 2018, the flexible packaging industry had $31.8 billion in sales in the US. It is the second-largest packaging segment in the US, accounting for nearly 19% of the $170 billion US packaging market. In the US, food (retail and institutional) accounted for a major share in flexible packaging, representing nearly 59% of shipments.
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Thermoplastic materials are significantly utilized for different flexible packaging applications. Polypropylene is one of the most commonly used thermoplastics across the globe. The application of Polypropylene ranges from plastic parts for machinery and equipment, plastic packaging, and even fibres and textiles. Other thermoplastics that are commonly used in the flexible packaging industry include polyethylene (PE), polyvinyl chloride (PVC), and polyethylene terephthalate (PET). PE is the most extensive used thermoplastics for engineered parts and components and is available in a range of grades and formulations according to diverse requirement.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Thermoplastics Market by Product
- Polyethylene
- Polypropylene
- Polystyrene
- Polycarbonate
- Polyethylene Terephthalate
- Others
Global Thermoplastics Market by Application
- Packaging
- Building and Construction
- Consumer Goods
- Electronics
- Automobiles
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Arya Sasol Polymer Co.
- Arkema S.A.
- Asahi Kasei Corp.
- BASF SE
- Bayer AG
- Braskem SA
- Chevron Phillips Chemical Co. LLC
- China National Petroleum Corp. (CNPC)
- The Dow Chemical Co.
- DuPont de Nemours, Inc.
- Evonik Industries AG
- Exxon Mobil Corp.
- Formosa Plastics Corp.
- Ineos AG
- Jam Petrochemical Company
- Lanxess AG
- Lotte Chemical Corp.
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemical Corp.
- Avient Corp.
- PTT Global Chemical Public Co.Ltd.
- Reliance Industries Ltd. (RIL)
- Saudi Basic Industries Corp. (SABIC)
- Sumitomo Chemical Co., Ltd.
- Toray Industries, Inc.
- Total SE
- Westlake Plastics Co.
- Solvay SA
The Report Covers
- Market value data analysis of 2020 and forecast to 2027.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global thermoplastics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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