What do developments in the packaging industry mean for the plastic products market?
Global Plastic Products Market Report 2021: COVID-19 Impact And Recovery By 2030
Business Research Company Global Plastic Products Market Report 2021: Impact of COVID-19 and Recovery Through 2030
LONDON, GREATER LONDON, UK, May 31, 2021 /EINPresswire.com/ – The plastic product manufacturing market is being influenced by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive demand for plastic materials. To ensure customer loyalty, convenience features such as resealable packs, easy-to-open stand-up pouches and smaller pack sizes for single portions are being introduced and further promotional packs and brand extensions are being developed. These packaging developments will increase the consumption of plastics and drive the market.
The plastic products market consists of the sales of plastic products by companies (organizations, sole proprietorships, and partnerships) that manufacture packaging materials, films and sheets, foam products, plastic bottles, and all other plastic products that have domestic and industrial uses. These companies use polymers and resins as raw materials, mainly sourced from polymer suppliers. The processes used in the manufacture of plastic products include compression molding, extrusion, injection molding, blow molding and casting.
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The global plastic products market is forecast to grow from $ 931.3 billion in 2020 to $ 993.9 billion in 2021, with an average annual growth rate (CAGR) of about 6%. The growth in the plastic products market is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which had previously resulted in restrictive containment measures involving social distancing, remote working and the closure of commercial activities leading to operational ones Challenges. The plastics industry is expected to reach $ 1258 billion in size by 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 and accounts for 30% of the global plastic products market. Africa is the smallest region in the world market for plastic products.
Major companies in the market include Newell Brands Inc, Compagnie de Saint-Gobain S., Sonoco Products Co, Sealed Air Corporation, Berry Plastics Corporation.
Global Plastic Products Market is segmented by Type into Plastic Packaging Materials and Unlaminated Films and Sheets, Plastic Tubes and Molds, Laminated Plastic Sheets, Sheets and Molds, Plastic Bottles, Polystyrene Foam Products, Urethane and Other Foam Products, Other Plastic Products, by Technology in Injection Molding, Extrusion, Blow molding, etc.
Treated sub-segments are bags and pouches, foils and sheets, non-laminated plastic profile forms, plastic pipes and pipe fittings HDPE plastic bottles, PET plastic bottles, PP plastic bottles, other plastic bottles.
Global Plastic Products Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that summarize the Plastic Products Market, Forecast Market Size, and Growth for the Overall Market for Plastic Products Plastic Products Market, offer segments and regions, Plastic Products Market Trends, Plastic Products Market Drivers, Restrictions, Revenues, Profiles, and Market Shares of Leading Competitors.
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May 31, 2021 at 13:04 GMT
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