Report Ocean released a new report on the plastic resin market. The plastic resin market report contains information on many relevant factors, such as market constraints, driving factors and opportunities. In addition, the report provides an in-depth review of industry developments and market trends that affect the growth of the plastic resin market. In addition, the database also analyzes and estimates the global and regional plastic resin market.
In 2020, the global plastic resin market is worth 403.1 billion U.S. dollars and is expected to reach 522.5 billion U.S. dollars by 2027, with a compound annual growth rate of 4.5% from 2021 to 2027.
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Plastic is not a material, it is a series of similar materials with different characteristics, which can be designed to meet the requirements of various applications including packaging. Plastic resin has a wide range of applications in many industries such as packaging, electrical and electronics, automobiles, and construction. Plastic resin is used for various components and structures. The main advantages of using resin include the ability to adapt to various products, low shrinkage, good mechanical properties, resistance to corrosive liquids and weather. The benefits of using plastic resins also include excellent electrical properties, good efficiency at high temperatures, and reasonable adhesion to the substrate.
Due to the low weight-to-strength ratio of plastic resins, the increased demand for lightweight materials in the automotive and aerospace industries is expected to drive the demand for plastic resins. In addition, it is expected that during the forecast period, the demand for composite materials in pipelines and storage tanks and oil and gas applications will drive the development of the global plastic resin market. In addition, growth is expected to be driven by increased use of plastic resins in construction, automotive, electrical and electronic applications.
Through regulatory measures, auto OEMs have been actively using resin to replace steel and aluminum to produce auto parts to minimize total vehicle weight, improve fuel efficiency, and reduce carbon emissions. However, the high volatility of raw material prices and recyclability issues are estimated to hinder the growth of the global plastic resin market.
Some of the major players operating in the global plastic resin market are Arkema SA, Celanese, Dow Chemical, DuPont, Evonik Industries AG, Formosa Plastics Group, Lyondell Basel, SABIC, Sumitomo Chemical and Toray Industrial Co., Ltd.
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The main interests of stakeholders? The report conducts an extensive qualitative and quantitative analysis of the current trends and future estimates of global plastic resins from 2019 to 2027 to identify current opportunities. ? Provides a comprehensive analysis of the factors driving and limiting market growth. ? Estimates and forecasts are based on factors that affect market value and volume growth. ? Provides an overview of the leading players operating in the market to understand global competition. ? The report provides extensive qualitative insights into important market segments and regions where the market is growing well.
The impact of COVID-19 on the global plastic resin market-The world is struggling with the spreading infectious COVID-19 pandemic. – Supply and demand gaps, raw material procurement interruptions, price fluctuations and many other factors are expected to hinder the growth of the chemical industry during the COVID-19 pandemic. – As the COVID-19 pandemic has restricted economic activity, the global economy of the plastic resin market has experienced a rapid slowdown. – At the beginning of the COVID-19 pandemic, the demand for resin-related consumer products (including packaging and sanitary products) has grown rapidly. However, the demand for resin-related consumer products has seen a more permanent and stubborn decline, including products used in automobile manufacturing, construction and other industrial categories. – The industry faces constraints on environmental protection, climate change issues, and the instability of the oil industry. Despite the positive outlook for demand, these factors are expected to continue to affect the industry.
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By product? Polyethylene Terephthalate (PET)? High Density Polyethylene (HDPE)? Polyvinyl Chloride (PVC)? Low Density Polyethylene (LDPE)? Polypropylene (PP)? Polystyrene (PS)? Others
By application? Bale? Car? build? Electrical and electronic? consumer goods? Furniture and bedding? Other
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By region o North America? Us? Canada? Mexico o Europe? Germany? France? Italy? Spain? UK? Rest of Europe or Asia Pacific? China? Japan? India? South Korea? Rest of Asia Pacific o LAMEA? Brazil? Argentina? Qatar? UAE? LAMEA other regions
The 2019 COVID-19 pandemic swept the world. It caused a pause throughout the world. The entire global economy has been affected. In addition, many people lost their lives. To date, approximately 252,297,094 COVID-19 cases and 5,091,465 deaths have been reported globally. The pandemic has spread to almost every country in the world. In most industries, the pandemic has caused some form of loss. Due to the pandemic, the plastic resin market has also experienced a slowdown. Statista estimates that the total global revenue of the plastic resin market industry in 2019 is approximately US$3.94 trillion. In 2014, the global plastic resin market industry generated 5.4 trillion U.S. dollars in revenue, a record high.
The degree of competition among world-renowned companies is derived by analyzing several leading competitors operating globally. In addition, professional analysts examined all aspects of the plastic resin market, including market competition, market share, the latest developments in the industry, the release of innovative products, partnerships, mergers and acquisitions of leading companies.
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The key questions answered in the global plastic resin market report are:
How do multinational companies gain access to the market?
What are its core strategies and policies?
During the forecast period, what factors will affect the plastic resin market?
What are the factors that promote and restrict the chemical market?
Who are the main competitors in the global market?
Which region of the global market is growing faster?
This report covers all aspects of the regional analysis market.
The report includes data on North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report analyzes current and future market trends by region, and provides information about product use and consumption.
The market report includes the country’s growth rate for each region during the forecast period.
What factors are considered when evaluating major market participants?
The report analyzes the global companies in detail.
The report outlines the main suppliers in the market, including the main players.
The report includes information about each manufacturer, such as profile, revenue, product pricing, and other relevant information about the manufactured products.
The report includes a comparison of market competitors and a discussion of the positions of major players.
Market reports provide information on the latest developments, mergers and acquisitions of major players.
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What are the main findings of the report?
This report provides comprehensive information on the factors that are expected to affect future market growth and market share.
The report provides the current market status and future prospects of the various geographic regions.
The report provides qualitative and quantitative information about the competitive landscape of the market.
Combine Porter's five forces analysis as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rate and growth opportunities.
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