Top 10 Plastics Market worth 586.24 Billion USD|CAGR of 6.84%

The ****** Top 10 Plastics Market was valued at USD 413.19 Billion in 2015 and is projected to reach USD 586.24 Billion by 2021, at a CAGR of 6.84% from 2016 to 2021. The market size was 252.9 Million tons in 2015 and is projected to reach 332.4 Million tons by 2021, at a CAGR of 4.68% from 2016 to 2021. In this study, 2015 has been considered as the base year and 2021 the projected year, with the forecast period from 2016 to 2021..

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Polyethylene (PE): The largest type segment of the top 10 plastics market

Polyethylene is the largest type segment of the ****** top 10 plastics market, followed by the polypropylene segment. The high demand for polyethylene is mainly due to its effective and substantial usage in consumer products, especially in packaging materials. Properties, such as flexibility, thermal & electrical insulation, and chemical & thermal resistivity, make its usage widespread in applications such as packaging, construction, electrical, electronics, automotive, and so on. Polyethylene is also lightweight, easy to manufacture, and easily available, which further boost its demand in the aforementioned applications.

Packaging: The largest application segment of the top 10 plastics market

Packaging is currently the largest application segment of the top 10 plastics market. Plastics provide a much cleaner, tougher, and aesthetically appealing form of packaging, especially for the food & beverage industry and the electronics industry. This is anticipated to fuel its demand in the packaging application segment. The extensive use of plastics in bags, pouches, and sachets as well as in conventional packaging methods is also expected to drive the growth of the packaging segment.

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The Dow Chemical Company (U.S.), ExxonMobil Chemical Company, Inc. (U.S.), and SABIC (Saudi Arabia) are the most important players in the ****** top 10 plastics market. These companies witnessed the highest strategy adoptions in the market, and accounted for the largest share of the overall activities from 2011 to 2016.