The global commodity plastic market size is anticipated to attain a valuation of US$ 1170 billion by 2034. It is estimated to witness a CAGR of around 6.7% in the forecast period 2024 to 2034. The market is likely to reach a value of US$ 610.1 billion by 2024.
Key Commodity Plastic Market Trends
Attributes | Key Insights |
---|---|
Commodity Plastic Market Anticipated Value (2023A) | US$ 570.2 billion |
Commodity Plastic Market Estimated Valuation (2024E) | US$ 610.1 billion |
Projected Commodity Plastic Market Size (2034F) | US$ 1170 billion |
Value-based CAGR (2024 to 2034) | 6.7% |
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The global commodity plastic market expanded at a CAGR of about 7.9% in the historical period 2019 to 2023. It will likely rise at a CAGR of 6.7% in the assessment period. The market stood at a valuation of US$ 570.2 billion in 2023.
Historical CAGR (2019 to 2023) | 7.9% |
---|---|
Forecast CAGR (2024 to 2034) | 6.7% |
Historical Analysis of the Commodity Plastic Market
Commodity Plastic Applications and Demand Analysis from 2024 to 2034
The table provides information about significant variations in growth rates and dynamic trends in the commodity plastic market. Readers can gain insights into changing consumer tastes and evolving market dynamics throughout an array of different periods. The table offers an explanation of growth potential, scrutinizing the role that actual numbers and predictions have in determining the future path of the market.
Details | CAGR |
---|---|
H1 (2023 to 2033) | 6.40% |
H2 (2023 to 2033) | 6.50% |
H1 (2024 to 2034) | 6.90% |
H2 (2024 to 2034) | 6.60% |
The section below highlights the CAGRs of the leading countries in the commodity plastic market. The three main countries pushing commodity plastic demand include South Korea, Japan, and the United Kingdom.
According to the analysis, South Korea is set to lead the commodity plastic market by showcasing a CAGR of 8.0% in the forecast period. The country is anticipated to be followed by Japan and the United Kingdom, with CAGRs of 7.7% and 7.4%, respectively.
Countries | CAGR (2024 to 2034) |
---|---|
United States | 6.8% |
United Kingdom | 7.4% |
China | 7.0% |
Japan | 7.7% |
South Korea | 8.0% |
The table below showcases the size of the top 5 countries present in the global commodity plastic market. Out of all the countries, the United States is expected to reach a valuation of US$ 210.1 billion by 2034. Followed by the United States, China, and Japan are anticipated to attain valuations of US$ 182.8 billion and US$ 122.1 billion, respectively.
Countries | Market Size (2034) |
---|---|
United States | US$ 210.1 billion |
United Kingdom | US$ 48.4 billion |
China | US$ 182.8 billion |
Japan | US$ 122.1 billion |
South Korea | US$ 72.3 billion |
South Korea’s commodity plastic market is expected to reach a valuation of about US$ 72.3 billion by 2034. It is anticipated to showcase a CAGR of 8.0% in the forecast period. Factors responsible for the country’s growth are:
Japan’s commodity plastic market is projected to witness a CAGR of 7.7% in the evaluation period. It is expected to attain a value of US$ 122.1 billion by 2034. The country is likely to expand at a steady pace due to the following factors:
It is estimated that China will generate a considerable commodity plastic market share in 2034. The country is set to exhibit a CAGR of about 7.0% from 2024 to 2034. This growth is attributed to the following factors:
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The below section shows the global trends in the commodity plastic industry in terms of type and end-use industry. The polyethylene (PE) segment is expected to lead the commodity plastic market based on type. It is set to showcase a CAGR of around 6.5% from 2024 to 2034. Based on the end-use industry, the packaging segment is anticipated to exhibit a dominant CAGR of 6.4% through 2034.
Segment | Value CAGR (2024 to 2034) |
---|---|
Polyethylene (Type) | 6.5% |
Packaging (End-use Industry) | 6.4% |
Based on type, the polyethylene (PE) segment is anticipated to witness a CAGR of 6.5% from 2024 to 2034. Key factors contributing to the segment’s growth are:
In terms of the end-use industry, the packaging segment is predicted to showcase a CAGR of around 6.4% in the estimated period. This growth is attributed to the following factors:
Leading companies in the commodity plastic market are focusing on introducing innovative plastic packaging solutions to cater to the high demand from modern consumers. They are investing huge sums in research & development activities to discover unique packaging that would help reduce plastic pollution and comply with government norms. A handful of other companies are striving to expand their presence in the antimicrobial commodity plastic market.
For instance
The commodity plastic market is set to be worth US$ 1170 billion by 2034.
The commodity plastic market is set to witness a CAGR of 6.7% from 2024 to 2034.
The commodity plastic market witnessed a 7.9% CAGR from 2019 to 2023.
Packaging is expected to lead by showcasing a CAGR of 6.4% through 2034.
Japan’s commodity plastic market is set to be worth US$ 122.1 billion by 2034.
It is a type of plastic that is utilized in high volumes in a wide range of applications.
Yes, plastic is a traded commodity.
Asia Pacific is the largest market for plastic.
Engineering plastic can withstand environmental and mechanical conditions, while commodities cannot.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ billion) & Volume (tons) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ billion) & Volume (tons) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ billion) & Volume (tons) Analysis By Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ billion) & Volume (tons) Analysis and Forecast By Type, 2024 to 2034 5.3.1. Polyethylene (PE) 5.3.2. Polypropylene (PP) 5.3.3. Polyvinyl Chloride (PVC) 5.3.4. Polystyrene (PS) 5.3.5. Acrylonitrile Butadiene Styrene (ABS) 5.3.6. Polyethylene Terephthalate (PET) 5.3.7. Poly (Methyl Methacrylate) (PMMA) 5.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-use Industry 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ billion) & Volume (tons) Analysis By End-use Industry, 2019 to 2023 6.3. Current and Future Market Size Value (US$ billion) & Volume (tons) Analysis and Forecast By End-use Industry, 2024 to 2034 6.3.1. Packaging 6.3.2. Automotive 6.3.3. Electronics 6.3.4. Consumer Goods 6.3.5. Construction 6.3.6. Textiles 6.3.7. Medical & Pharmaceutical 6.3.8. Others 6.4. Y-o-Y Growth Trend Analysis By End-use Industry, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By End-use Industry, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ billion) & Volume (tons) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ billion) & Volume (tons) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. United States 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By End-use Industry 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By End-use Industry 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By End-use Industry 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By End-use Industry 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Type 10.2.3. By End-use Industry 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By End-use Industry 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Type 11.2.3. By End-use Industry 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By End-use Industry 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Type 12.2.3. By End-use Industry 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By End-use Industry 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Type 13.2.3. By End-use Industry 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By End-use Industry 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ billion) & Volume (tons) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ billion) & Volume (tons) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of Middle East and Africa 14.2.2. By Type 14.2.3. By End-use Industry 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By End-use Industry 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. United States 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Type 15.1.2.2. By End-use Industry 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Type 15.2.2.2. By End-use Industry 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Type 15.3.2.2. By End-use Industry 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Type 15.4.2.2. By End-use Industry 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Type 15.5.2.2. By End-use Industry 15.6. United Kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Type 15.6.2.2. By End-use Industry 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Type 15.7.2.2. By End-use Industry 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Type 15.8.2.2. By End-use Industry 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Type 15.9.2.2. By End-use Industry 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Type 15.10.2.2. By End-use Industry 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Type 15.11.2.2. By End-use Industry 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Type 15.12.2.2. By End-use Industry 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Type 15.13.2.2. By End-use Industry 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Type 15.14.2.2. By End-use Industry 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Type 15.15.2.2. By End-use Industry 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Type 15.16.2.2. By End-use Industry 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Type 15.17.2.2. By End-use Industry 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Type 15.18.2.2. By End-use Industry 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Type 15.19.2.2. By End-use Industry 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Type 15.20.2.2. By End-use Industry 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Type 15.21.2.2. By End-use Industry 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Type 15.22.2.2. By End-use Industry 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Type 15.23.2.2. By End-use Industry 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Type 16.3.3. By End-use Industry 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. LG CHEM 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. INEOS 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. LYONDELLBASELL 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. SUMITOMO CHEMICAL 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. SABIC 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. SINOPEC 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. THE DOW CHEMICAL COMPANY 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. EXXON MOBIL CORPORATION 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. FORMOSA PLASTIC 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. BASF SE 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Automotive
February 2024
REP-BR-81
306 pages
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