Asia Pacific Commodity Plastics Market Growth, Share and Opportunities to 2025- Exclusive Report by MarketsandMarkets™
Verfasser: ashwani_kailiya on Monday, 23 May 2022The global commodity plastics market size is projected to grow from USD 468.3 billion in 2020 to USD 596.1 billion by 2025, at a CAGR of 6.0% between 2020 and 2025. Commodity plastics are primarily thermoplastics that are produced in high volume and at a relatively lower cost in comparison to other plastics. These plastics are used in various end-use industries in automobile, construction, packaging, electrical & electronics, and medical & pharmaceutical industries.
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One of the major drivers of the commodity plastics market is the emergence of e-commerce. In addition, the growing packaging industry is considered a major driver of the commodity plastics market. Increasing disposable income and growing metal prices, along with the increasing acceptance of commodity plastics in various end-use industries is driving this market. The rapid increase in downstream processing capacity will be the main driver for the PE and PP segments in the future.