PUBLISHER: The Business Research Company | PRODUCT CODE: 1675089
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675089
Commodity plastics, comprising single polymers, are cost-effective with no exceptional mechanical properties. They're used for single-use applications such as disposable plates, medical trays, clothing, and reusable bags.
Commodity plastics encompass several key types such as polyethylene (PE), polypropylene (PP), polyvinyl chloride (PVC), polystyrene (PS), acrylonitrile butadiene styrene (ABS), polyethylene terephthalate (PET), and poly (Methyl Methacrylate) (PMMA). Polyethylene, a thermoplastic polymer, finds applications in packaging films, rubbish bags, and supermarket bags. Its variable crystalline structure allows for a wide array of uses depending on the specific type. These plastics, available in reusable and recyclable forms, serve diverse industries such as packaging, construction, consumer goods, automotive, electronics, textiles, medical and pharmaceutical, among others.
The commodity plastics market research report is one of a series of new reports from The Business Research Company that provides commodity plastics market statistics, including commodity plastics industry global market size, regional shares, competitors with a commodity plastics market share, detailed commodity plastics market segments, market trends and opportunities, and any further data you may need to thrive in the commodity plastics industry. This commodity plastics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The commodity plastics market size has grown strongly in recent years. It will grow from $526.99 billion in 2024 to $563.39 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to raw material prices, regulatory changes, trade dynamics, proliferation of electronic devices, automotive industry growth.
The commodity plastics market size is expected to see strong growth in the next few years. It will grow to $738.2 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to stricter environmental regulations, shift in consumer preferences, water scarcity concerns, growing public awareness of plastic pollution, e-commerce boom. Major trends in the forecast period include biodegradable alternatives, focus on lightweighting, digitalization in manufacturing, innovations in packaging design, rise of 3D printing.
The increasing production of plastic is anticipated to drive the growth of the commodity plastics market in the future. The packaging industry is actively involved in the design and manufacturing of packaging products. Commodity plastics, such as polyethylene and polystyrene, are utilized in applications like packaging film and foam packaging within this industry. For example, according to Plastics Europe, a Belgium-based association for plastics manufacturing, global plastic production reached 400.3 million tons in 2022, representing a modest increase from the previous year. Thus, the rising production of plastic is fueling the expansion of the commodity plastics market.
The swift expansion of the construction industry is poised to drive substantial growth within the commodity plastics market in the forthcoming years. Within the construction sector, encompassing a diverse array of operations related to structural and infrastructure development, commodity plastics such as polyethylene and polypropylene hold significant usage. These plastics are favored for applications such as pipes, insulation, wiring conduits, and fixtures due to their cost-effectiveness, resilience, and lightweight properties, which contribute to improved performance and efficiency across various construction projects. For instance, as reported by the Australian Bureau of Statistics in November 2023, there was a notable increase in total construction work, rising by 1.3% to $64,768.7 million, with building work experiencing a 0.2% uptick to $34,300.2 million. This surge in construction activities stands as a key driver fueling the growth trajectory of the commodity plastics market.
Major companies in the commodity plastics market are concentrating on developing innovative products, such as eco-friendly plastics, which aim to reduce environmental impact and address the growing consumer demand for sustainable materials. Eco-friendly plastics are designed to minimize environmental harm, often produced from renewable resources or biodegradable materials, with the goal of decreasing pollution and waste in landfills and oceans. For example, in March 2023, LG Chem, a South Korea-based chemicals firm, introduced Poly Ethylene Carbonate (PEC). This next-generation eco-friendly material is derived from carbon dioxide and was developed in collaboration with COSMAX, an environmentally conscious company based in South Korea at the EcoZone. Poly Ethylene Carbonate (PEC) serves as a sustainable alternative to traditional petroleum-based plastics and is primarily used in cosmetic containers and food packaging, contributing to a reduced carbon footprint and supporting environmental initiatives.
Major players within the commodity plastic market are employing strategic partnerships to pave the way for the development of the inaugural polyethylene terephthalate (PET) resin. This collaborative strategy involves companies leveraging each other's strengths and resources to achieve mutual benefits and drive success. An exemplar of this approach unfolded in May 2023, as LanzaTech Global Inc., a US-based leader in carbon recycling transforming waste carbon into renewable resources, partnered with Plastipak Packaging Inc., a US-based plastic packaging manufacturing company, to introduce PPKNatura.
In May 2022, RadiciGroup, an Italian company specializing in polyamide polymers, chemical intermediates, engineering plastics, synthetic fibers, and nonwovens, successfully acquired the plastics division of Ester Industries Ltd for a transaction valued at $37 million. This acquisition serves to enhance RadiciGroup's existing high-performance polymers business by extending its strong commercial footprint in India. Ester Industries, based in India, is renowned for its production of specialty polymers, polyester films, and engineering plastics.
Major companies operating in the commodity plastics market include China Petrochemical Corporation, Exxon Mobil Corporation, ENI SpA, Indian Oil Corporation Limited, Reliance Industries Ltd., BASF SE, The Dow Chemical International Private Limited, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, Qatar Petroleum, LyondellBasell Industries N.V., LG Chem Ltd., Mitsubishi Chemical Systems Inc., Sumitomo Chemical Co. Ltd., INEOS Group, PTT Global Chemical Public Company Limited, Westlake Corp., Chevron Phillips Chemical Company LLC, Braskem India Private Limited, DuPont de Nemours Inc., Eastman Chemical Company, Formosa Plastics Corporation, Borealis AG, Nova Chemicals Corp., Haldia Petrochemicals Ltd., Qenos Pty Ltd., Hanwha Chemical India Private Limited, Lotte Chemical Engineering Plastics Private Limited
Asia-Pacific was the largest region in the commodity plastics market in 2024. The regions covered in the commodity plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the commodity plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The commodity plastics market consists of sales of nylon, phenol formaldehyde resins, general purpose polystyrene, magnetic tape, acetate film. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Commodity Plastics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on commodity plastics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for commodity plastics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The commodity plastics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.