What Do Developments In The Packaging Industry Mean For The Plastic Products Market?

Plastic Products Market Report 2021: COVID-19 Impact And Recovery To 2030

Plastic Products Global Market Report 2021: COVID-19 Impact And Recovery To 2030

The Business Research Company’s Plastic Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, May 31, 2021 /EINPresswire.com/ — The plastics products manufacturing market is affected by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive the demand for plastic materials. Convenience features, such as resealable packs, easy-to-open stand-up pouches and smaller pack sizes for single-servings are being introduced and more promotional packs and brand extensions are being developed to ensure customer loyalty. These developments in packaging will increase the consumption of plastics and are driving the market.

The plastic products market consists of sales of plastic products by entities (organizations, sole traders and partnerships) that produce packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications. These businesses use polymers and resins as raw materials which are primarily sourced from polymer suppliers. The processes used in plastic products manufacturing include compression molding, extrusion molding, injection molding, blow molding and casting.

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The global plastic products market is expected to grow from $931.3 billion in 2020 to $993.9 billion in 2021 at a compound annual growth rate (CAGR) of about 6%. Plastic products market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The plastic products industry size is expected to reach $1258 billion in 2025 at a CAGR of 6%.

Asia Pacific is the largest region in the global plastic products market, accounting for 37% of the market in 2020. North America is the second largest region, accounting for 30% of the global plastic products market. Africa is the smallest region in the global plastic products market.

Major companies in the market include Newell Brands Inc, Compagnie de Saint-Gobain S., Sonoco Products Co, Sealed Air Corporation, Berry Plastics Corporation.

The global plastic products market is segmented by type into 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, by technology into injection molding, extrusion molding, blow molding, others, and by end-user industry into automotive & transportation, electrical & electronics, medical, construction, others.

Subsegments covered are 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.

Plastic Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides plastic products market overview, forecast plastic products market size and growth for the whole market, plastic products market segments, and geographies, plastic products market trends, plastic products market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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