Asia-Pacific Commodity Plastic Market is Expected to Rise a Healthy CAGR of 5.3% From 2018 to 2025

A Commodity Plastic is the types of plastics that are used in a wide variety of applications and have day to day usage. Most of the commodity plastics have billions of applications, including packaging, electronics, automobiles and healthcare. Most commonly commodity plastics resins are transformed into sheets & films for further use. Some plastics such as polyethylene terephthalate (PET) are directly molded in bottles and other forms.
Asia-Pacific commodity plastic market is expected to reach a healthy CAGR of 5.3% in the forecast period of 2018 to 2025.

Competitive Analysis: Asia-Pacific Commodity Plastic Market

Some of the prominent participants operating in this market are Sinopec, Exxon Mobil, DowDuPont, BASF SE, Chevron Phillips Chemical Company, Lyondellbasell Industries Holdings B.V., Gas Authority Of India Limited, Hanwha Co. Ltd, Indian Oil Corporation, LG Chem, Ltd., Mitsubishi Chemical Corporation, PTT Global Chemical Public Company Limited, Reliance Industries Limited, SABIC, Sumitomo Chemical Company Limited among others.
Recent Developments:
  • In October 2018, SABIC introduced light weight polypropylene named as SABIC PP 514M12 for personal hygiene factors. SABIC PP 514M12 is based on phthalate-free and odor-free technology which can be easily processed and used in melt blown applications
  • In December2017, mitsubishi chemical corporation had developed bio-based engineering plastics under the brand name DURABIO, for large automotive exterior components. This newly developed DURABIO is made from isosorbide, deriving from renewable plants
  • In May 2017, Sumitomo Chemicals, decided to build a new manufacturing plant in Chengdu city for the polypropylene for the automotive materials market.

Segmentation: Asia-Pacific Commodity Plastic Market

The Commodity plastic market is segmented into three notable segments such as Product type, Application and Geography
  • On the basis of product type, the market is segmented into polyethylene (PE), polyvinyl chloride (PVC), polystyrene (PS), polypropylene (PP), polymethyl methacrylate (PMMA), and others. Polyethylene is further sub-segmented into HDPE, LDPE, LLDPE, UHMW, and polyethylene terephthalate (PET). Polyvinyl chloride (PVC) is further segmented into rigid PVC and flexible PVC. Polypropylene (PP) is further segmented into polypropylene homo-polymers (PPH) and polypropylene co-polymers (PPC).
    • In August 2018, Sinopec announced to restart its polypropylene (PP) unit in Guangdong China. The polypropylenep lant has a capacity of 200,000 mt/year. This restart of the polypropylene unit will help to enhance overall production of polypropylene.
  • On the basis of application, the market is segmented into packaging, automotive, electronics, consumer goods, construction, textile, medical & pharmaceutical and others. Packaging is further segmented into film wraps, plastic bags, industrial & household chemical containers, milk jugs, cereal box liners, others. Automotive is further segmented into air dams, car bumpers, rocker panels, consoles, grilles, others. Electronics is further segmented into telecommunications, semiconductors, electronic components, displays, others. Consumer goods is further segmented into food storage containers, weather-resistant clothing, indoor-outdoor carpeting, utensils, others. Constructions are sub-segmented into doors, roofing, flooring, wall covering, piping, window covering, insulation and others. The textiles are sub-segmented into fibers & fabrics and others. The medical & pharmaceutical is sub-segmented into medical or laboratory tools, pharmacy prescription bottles, therapeutic systems, surgical equipment and others.
    • In March 2018, the Chevron Phillips Chemicals Company started the operation of a new ethane cracker, at its Cedar Bayou facility in Baytown, Texas, U.S.A. The facility has a production capacity of around 1.5 billion metric tons/3.3 billion lbs. per year. The new plant will also produce polyethylene resins.

Research Methodology: Asia-Pacific Commodity Plastic Market

Primary Respondents:
key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants.
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