Page 48 - Plastics News July 2023

BUSINESS NEWS

Plastic Market Expected to High Growth in Next 5 Years
Canada, and Mexico)

• Europe (Germany, UK, France,
Italy, Russia, etc.)

• Asia-Pacific (China, Japan, Korea,
India, etc.)

• South America (zil etc.)

s the chemical industry moves into 5.0% during the forecast period. • Middle East and Africa (Egypt and
A2023, strong demand for both List of Top Leading Players of the Plas- GCC Countries)
commodity and specialty chemicals tic Market- Competitors Landscape:
should keep prices robust throughout
the year. However, the industry could Companies covered in the plastic The comprehensive Plastic Mar-
face margin pressures amid raw ma- market are MOL Group (Hungary) , ket research report offers a holistic
terial cost inflation, which will likely Borouge (UAE), BASF SE (Germany), evaluation of various factors that con-
remain high through the second half Total S.A. (France), Reliance Industries tribute to market growth. It encom-
of 20223. Limited (India), Beaulieu International passes a thorough analysis of trends,
Group (Belgium), Borealis AG (Aus- constraints, and drivers, which exert
Fortune Business Insights™ has re- tria), Repsol (Spain), Braskem (Bra- either a positive or negative influence
cently released an in-depth analysis zil), Formosa Plastic Group (Taiwan), on the market. Furthermore, this sec-
of global Plastic Market growth. The Ducor Petrochemicals (Netherlands), tion highlights the promising potential
report considers the revenue gener- ExxonMobil Chemical (U.S.), SABIC of different market segments and ap-
ated from the sales of this Report and (Saudi Arabia), INEOS (UK) and more plications that can significantly influ-
technologies by various application players profiled. ence the market's future direction. By
segments and browses market data leveraging both contemporary trends
Tables. Various market parameters Regional Overview: and historical milestones, the report
such as macroeconomic conditions, The global Plastic Market 2023-2030 provides readers with profound in-
market environment, government is divided into various market seg- sights and meticulous details, enabling
policies, and competitive landscape ments based on locations that they them to gain a comprehensive under-
are thoroughly studied and taken into are around the globe. This segmenta- standing of the subject matter.
account while analyzing the market. tion is useful as it categorizes the vari-
Short Description About Plastic ous factors that are used to measure Porter’s five forces analysis:
Market: the growth of the market according The Plastic Market report provides
to the various regions. The data col- an analysis of the industry's competi-
The Global Plastic Market is antici- lected is accurate and ensures easier tive landscape through the lens of five
pated to rise at a considerable rate segmentation. The market share for fundamental forces: the potential en-
during the forecast period, between the various regions is included. The try of new competitors, the influence
2023 and 2030. In 2022, the market is import and export of the various re- wielded by suppliers, the bargaining
growing at a steady rate, and with the gions are demarcated along with the power of buyers, the possibility of
rising adoption of strategies by key consumption and production of dif- substitute products or services, and
players, the market is expected to rise ferent regions. the intensity of rivalry among existing
over the projected horizon. industry players. By examining these
Geographical Segmentation:
Growth Projected: key factors, the report offers valuable
Geographically, this report is seg- insights into the dynamics shaping
The global plastic market size was mented into several key regions, with competition within the industry, ena-
valued at USD 439.28 billion in 2021 sales, revenue, share Plastic Market bling stakeholders to make informed
and is projected to grow from USD growth rate in these regions covering decisions and devise effective strate-
457.73 billion in 2022 to USD 643.37 gies to thrive in this competitive en-
billion by 2029, exhibiting a CAGR of • North America (United States, vironment.

48 PLASTICS NEWS July 2023