New York, NY -- (SBWIRE) -- 03/04/2021 -- The global Plastics Market is forecast to reach USD 776.68 Billion by 2027, according to a new report by Reports and Data. The term plastic, derived from ''plastikos'', refers to plasticity or malleability of a material during manufacture that allows it to be pressed, cast, or extruded into different shapes like fibers, bottles, tubes, and films, among others.  There are various kinds of plastics, but it can be primarily classified into two polymer groups- Thermoplastics and Thermosets. Thermoplastics are those polymers that soften on heating and hardens on cooling. In the case of Thermosets, it never softens after it is molded. The continuously growing demand for light-weight vehicles is one of the mentionable factors supporting the market growth. High-performance plastics can provide significant mechanical strength along with minimizing the overall weight. Furthermore, elevated awareness about adverse environmental impact associated with the use of plastics and the development of biodegradable plastics, are opening new avenues for the market players. In context to region, North America can be seen to occupy a prominent market share. The market share held by the region is associated with a well-established digital food ordering culture and continuously expanding automotive industry.

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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Plastics market and profiled in the report are:

SABIC, BASF SE, Evonik Group, DowDuPont, Arkema, Sumitomo Chemicals, Eastman Chemical Company, Celanese Corporation, Chevron Phillips Chemical Co. LLC and Lotte Chemical Corporation.

The research study further covers the expansion and scope of the market in the key geographies across the globe. It assesses the scope of the market on a global as well as country-wise level. The market is spread across the key regions that include: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report provides a comprehensive analysis of the production and consumption patterns, import and export ratio, supply and demand dynamics, key trends and demands, consumer behavior, and presence and operations of prominent players in each region of the market.

The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.

The report further segments the market on the basis of product types and application spectrum offered by the market.

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Polypropylene
Polyethylene
Polyvinyl chloride
Polyurethane
Polystyrene
Polyethylene terephthalate
Acrylonitrile butadiene styrene
Polyphenylene oxide
Polybutylene terephthalate
Liquid crystal polymers
Epoxy polymers
Polycarbonate
PEEK
Polyamide
PPSU
Polysulfone
Others

Degradability Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Non-biodegradable conventional plastics
Biodegradable plastics

End-user Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Construction
Packaging
Automotive
Electrical & electronics
Agriculture
Medical devices
Consumer goods
Furniture & bedding
Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Food packaging
Bottled water
Carbonated soft drinks
Other Product Type of drinks
Non-Food packaging
Sheet & Film
Others

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TOC -
Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technology

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Plastics Market Segmentation & Impact Analysis

    4.1. Plastics Market Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

Continued……….

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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Plastics market and its competitive landscape.

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