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Global plastic market growth is driven by rising plastic demand from the construction, automotive, and electronics industries.

Greater plastic demand from the building industries is projected as a result of strict rules addressing the depletion and recycleability of traditional materials like metal and wood in insulation, pipelines, cables, flooring, windows, and other applications. Comparatively to metal or wood, polymer fittings are often relatively basic and straightforward to install, and a variety of colour combinations contribute to their visual appeal.

Compared to metals, plastic has a specific gravity that is 85% lower. They provide for weight reductions of around 80% and component cost reductions of 30% to 50% when employed in the construction and automotive sectors. The need for plastic in medical devices such testing equipment, ventilators, gloves, syringes, surgical trays, and medical bags is being favourably impacted by the rising occurrences of COVID-19 positive cases throughout the world as a result of novel viral strains.

Plastics are in high demand primarily as they make life simpler, cleaner, and safer. Plastic offers a number of benefits, including low cost, water resistance, and simplicity of manufacture, which has led to its extensive application in sectors like the building and automobile industries. Market revenue growth is being driven by an increase in demand for plastic packaging solutions to preserve the items. In addition to regional market predictions by type and application, market sales forecasts and estimates by type, application, and region by 2028, as well as global sales and production forecasts and estimates for plastic by 2028, are also included as part of our quantitative study. For the qualitative study, we concentrated on situations related to politics and regulations, component benchmarking, the technological environment, significant market issues, and the environment and trends of the industry.

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Additionally, the study focuses on specifics about each market participant, such as their position globally, financial situation, revenue generation, business profile, and product and service portfolio. The plastics market is fiercely competitive and has a number of major competitors both locally and internationally. To improve their market position and product portfolio, key companies are concentrating on implementing a variety of tactics, including new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations.

Read Market Research Report, “Global Plastic Market  by Type (Polyethylene (Pe), Polypropylene (Pp), Polyethylene Terephthalate (Pet), Polyvinyl Chloride (Pvc), Acrylonitrile Butadiene Styrene (Abs), Polyamide (Pa), Polycarbonate (Pc), Polyurethane (Pu), Polystyrene (Ps)), End-User (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceuticals, Electrical & Electronics, Textile), and Region—Forecast and Analysis 2022–2028” by SkyQuest.

Global plastic market is segmented into polyethylene, polyethylene terephthalate, polyvinyl chloride, polypropylene, polyamide, acrylonitrile butadiene styrene, polycarbonate, polyurethane, polystyrene, and others based on type. Polyethylene and polypropylene (PP) are the two most common types among them because to their increased demand from end-users such as packaging and the automobile sector. Polymers are widely utilised by manufacturers to package their products because of their strength and capacity to act as a barrier between moisture and the product. Utilization is increasing in the automobile industry as manufacturers lighten vehicles to enhance efficiency and cut carbon emissions. Polyvinyl chloride (PVC) is mainly used to make pipes and fittings due to its numerous advantageous properties, including its high modulus of elasticity, electrical insulation, chemical resistance, and thermal insulation. The building industry uses PVC products, such as doors, windows, and frames, because of their longer lifespans, enhanced aesthetics, and simplicity of material supply. PET, or polyethylene terephthalate, is a substance that is frequently used for packaging and bottling. The food and beverage packaging sectors have witnessed a substantial increase in demand for it since it is non-toxic, lightweight, strong, and easily recyclable. PET is a popular 3D printing material because it is both strong and flexible. Due to its strength and flexibility, polyamide is widely used in the textile industry. It has a high tensile strength, excellent elasticity, and is wrinkle-proof. These benefits make it suitable for usage in textiles, carpets, and other items.

Packaging, consumer goods and lifestyle, infrastructure and construction, healthcare & pharmaceutical, electrical & electronics, textile, and others are the end-use industries that make up the market. The packaging category is predicted to hold the biggest market share for plastic during the assessment period due to the substantial demand for polyethylene from the food and beverage packaging industry.

·       By Seg-2 – D, E, F

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What does this Report Deliver?

SkyQuest has segmented the plastic based on Type, End User, and Region:

Key Players in the Global Plastic Market

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

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