Plastic material refers to a vast
class of polymer which comprises of a range of synthetic & semi-synthetic
compounds that are flexible and can be molded into solid objects of diverse
shapes. Resins are organic compounds comprising of a non-crystalline or viscous
liquid substance. Natural resins are usually fusible and flammable organic
substances that are translucent or transparent and are yellowish to brown in
color.
Plastic materials & resins
market comprises of the trades of plastic materials & resins by entities
that manufacture resins, plastic materials, and nonvulcanizable thermoplastic
elastomers, and mix or blend resins on a custom basis and manufacture
non-customized synthetic resins.
According to study, “Plastic
Material And Resins Global Market Report 2019” the key companies
operating in the global plastic material and resins market are LyondellBasell
Industries, Eastman Chemical Company, Total SA, BÜFA Composite Systems Gibson
Dunn, Ineos AG, Chevron Phillips, Formosa Plastics Group, Sunstar Engineering
Italy S.R.L., Covestro AG, Formulated Resins Ltd., Exxon Mobil, Solvay S.A,
Celanese Corp., Xinghua Xinfeng Plastic Co. Ltd., PolyOne Corporation, Sumitomo
Chemical Company Limited, Glezco Plasticos, Australian Vinyls Corporation,
Borealis Group, Plas Soltex Grouptic OJSC, Reliance Industries Ltd., Xinjiang
Zhongtai Chemical, LG Chemical, Plastral, Advanced Polymer Trading FZC (APT),
Shanghai Bluestar, Ncs Resins (Pty) Ltd Are Plastocure cc, Messe Brasil, Black
Horse Plastic Products, Braskem, Northern Vinyl Supplies, Cosmoplast, Flowcrete
South Africa, GAP Polymers, SPREA MISR, Saudi Aramco. The key companies face
intense competition from each other as well as from regional companies who have
strong distribution networks and good knowledge about regulations &
suppliers.
Based on product type, plastic material
and resins market is segmented into high-density polyethylene, low-density
polyethylene, polypropylene, polyethylene terephthalate, polystyrene, plastic
materials & resins, poly-vinyl chloride, polyurethane and others. In
addition, based on application, market is segmented into packaging (food,
beverage, retail, medical and others), construction, automotive, electrical
& electronics (electronic material, OA equipment & home appliances and
others), consumer goods, logistics, textile & clothing, furniture &
bedding, medical devices, agriculture, clothing (industrial use) and others.
The plastic material and resins
market is driven by increase in demand for industrial packaging products,
followed by growth in technological developments and rise in demand from the
automotive, construction, and electrical and electronics sectors. However,
stringent regulations on plastic materials and increase in raw material prices
may impact the market. Moreover, rapid increase in demand for eco-friendly
plastics and rise in use of recycled plastic products as raw material are key
opportunities for market.
Based on geography, the
Asian-Pacific is a leading region in global plastic material and resins market
owing to increase in demand for industrial packaging products in the region.
Whereas, the North-American and European regions are predicted to exhibit
considerable growth rate due to rise in demand from the packaging and
transportation manufacturing industries over the forecast period. In upcoming
years, it is estimated that future of the market will be bright as a result of
growth of key end-use mst period. caarkets for plastics during the fore
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