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DUBLIN--(BUSINESS WIRE)--Nov 1, 2022--
The "Plastic Products Global Market Report 2022, By Type, By Technology, By End-User Industry" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global plastic products market as it emerges from the COVID-19 shut down.
The global plastic products market is expected to grow from $888.99 billion in 2021 to $986.63 billion in 2022 at a compound annual growth rate (CAGR) of 11%. The market is expected to grow to $1,427.59 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
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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.
The main types of plastic products are 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 and other plastics product. The plastic material is typically applied for glass-clear packaged foods, such as fresh salads, fruits, cold meats, snacks, and so on. The different technologies include injection molding, extrusion molding, blow molding, others and is used in various sectors such as automotive & transportation, electrical & electronics, medical, construction, others.
Asia Pacific was the largest region in the plastic products market in 2021. North America was the second largest region in the plastic products market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The plastics products manufacturing industry 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 outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the plastic products manufacturing market in 2021 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2021 and into 2022.
However, it is expected that the plastic products manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy
The practice of using 3D printing in plastics manufacturing is becoming more common. This technology produces solid objects from digital designs by building up multiple layers of plastic, resin, or other materials in a precisely determined shape. The speed and flexibility of this technology can promote innovation and reduce time-to-market.
The products produced using 3D printers have good mechanical properties like strength and rigidity. For example, Stratasys developed one such color multi-material 3D printer which can combine colors with multi-material 3D printing. The printer uses cyan, magenta and yellow colors and plastics and elastomers as base materials to print objects with wide ranges of flexibility and rigidity, transparency and opacity.
The countries covered in the plastic products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
For more information about this report visit https://www.researchandmarkets.com/r/mvnff4
View source version on businesswire.com:https://www.businesswire.com/news/home/20221031005469/en/
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KEYWORD:
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/01/2022 04:25 AM/DISC: 11/01/2022 04:26 AM
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