The US plastics market will see a considerable growth of 2.5% during the forecast period. The demand for plastics from the continuously growing end-use markets will boost the growth of the plastics industry in the US. The food packaging industry is growing at a substantial rate in the US owing to the growing export of packaged food around the globe, majorly in China, South Korea, India, and other Asian economies.
China is one of the major exporting markets for the US due to the presence of a huge consumer base for quality food products in China. Trade has improved drastically between the two countries that will boost the global plastics market.
A full report of US Plastics Market is available at: https://www.omrglobal.com/industry-reports/us-plastics-market
South Korea is considered as one of the key importers from the US. The consumer demand is growing substantially in South Korea for prepared, and consumer-oriented foods. According to the USDA (US Department of Agriculture), the US exports have grown strong owing to the increased demand from South Korea.
The packaged food is being preferred in South Korea due to a shift in eating habits. Trade has considerably improved between these two countries, backed by the establishment of the FTA (Free Trade Agreement). With the growth in the agricultural trade between the two countries, the demand for plastic, used for packaging the food has also increased.
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Market Coverage
- Study Period- 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segments Covered- By Type and By Application
- Key Companies Profiled- BASF SE, Exxon Mobil Corp., Saudi Basic Industries Corp. (SABIC), the Dow Chemical Co., and Celanese Corp.
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?
US Plastics Market – Segmentation
By Type
- Thermoplastics
- Thermosets
By Application
- Packaging
- Building & Construction
- Automotive
- Electrical & Electronics
- Household, Leisure & Sports
- Agriculture
- Others
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