Plastic Products Market Growth Trajectory Through 2024-2033

The Plastic Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Plastic Products Global Market Report 2024, The plastic products market size has grown strongly in recent years. It will grow from $1061.89 billion in 2023 to $1142.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to versatility and adaptability of plastics, substitution for traditional materials, industrialization and manufacturing growth, automotive industry adoption, packaging industry innovations, consumer electronics boom.

The plastic products market size is expected to see strong growth in the next few years. It will grow to $1512.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to bio-based and biodegradable plastics, smart and functional plastics, focus on plastic waste management, shift in consumer preferences, global health crises preparedness, efforts to reduce single-use plastics. Major trends in the forecast period include plastic recycling technologies, anti-microbial plastics, lightweight plastic alternatives, plastic-free packaging initiatives, smart plastics with iot integration, plastic packaging recycling.

The growing construction and building activities significantly drive the demand for plastic products market going forward. Construction and building activities refer to a wide range of activities that involve building structures, developing skills, and promoting teamwork. Plastic materials, such as PVC (polyvinyl chloride) and PEX (cross-linked polyethylene), are commonly used to construct plumbing systems. These materials are durable, corrosion-resistant, and cost-effective, making them ideal for water supply and drainage systems in residential, commercial, and industrial buildings. For instance, in September 2021, according to reports published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020. Between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the growth of construction and infrastructure sectors is driving the growth of the plastic products market.

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The plastic products market covered in this report is segmented –

1) By Type: Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Polystyrene Foam Products, Urethane And Other Foam Product, Other Plastics Product
2) By Technology: Injection Molding, Extrusion Molding, Blow Molding, Other Technologies
3) By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Other End Users

Subsegments Covered: Bags And Pouches, Films And Sheets, Unlaminated Plastics Profile Shape, Plastics Pipe And Pipe Fitting HDPE Plastic Bottles, PET Plastic Bottles, PP Plastic Bottles, Other Plastic Bottles

The practice of using 3D printing in plastic manufacturing is becoming more common. This technology produces solid objects from digital designs by building up multiple layers of plastic, resin, or other materials in a precisely determined shape. The speed and flexibility of this technology can promote innovation and reduce time-to-market. The products produced using 3D printers have good mechanical properties like strength and rigidity. For example, Stratasys developed a color multi-material 3D printer that combines colors with multi-material 3D printing. The printer uses cyan, magenta, and yellow colors and plastics and elastomers as base materials for printing objects with wide ranges of flexibility, rigidity, transparency, and opacity.

The plastic products market report table of contents includes:

1. Executive Summary
2.Plastic Products Market Characteristics
3.Plastic Products Market Trends And Strategies
4.Plastic Products Market analysis
5.Plastic Products Market Size And Growth
6.Plastic Products Segmentation
7.Plastic Products Regional And Country Analysis
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27.Plastic Products Competitive Landscape And Company Profiles
28.Plastic Products Key Mergers And Acquisitions
29. Plastic Products Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• Exxon Mobil Corporation
• BASF SE
• The Dow Chemical Company
• Saudi Basic Industries Corporation
• LyondellBasell Industries Holdings B.V.

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