Hexa Research
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developing some bio-based alternatives to usual plastics. The industry is categorized into
products, applications, and regions.
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The products sector comprises Polyvinyl Chloride (PVC), polystyrene, Polypropylene (PP),
Polyethylene (PE), Polyethylene Terephthalate (PET), and engineering thermoplastics. The PE
sector dominated the overall plastics market in 2013 accounting for over 35 % of the global
market share. The rising demands from various end-use segments such as food & beverage
packaging, injection molding, etc. led to the biggest market share. The PET sector is
anticipated to be the fastest growing product sector with a CAGR of 9 % from 2014 to 2020.
The rising demands for PET plastics from the carbonated soft drink packaging market are
projected to further augment the demands for PET plastics during the next few years.
The application sector includes injection molding, film & sheets, construction, packaging,
textiles, and transportation. The films & sheets sector occupied over 45 % of the global share
in 2013. Films & sheets are mainly utilized in food packaging and pharmaceuticals. This is
said to boost the product demands in the near future. The application in plastic pipes is also
likely to experience a substantial growth with a CAGR of 6 % over the forecast period.
Asia-Pacific was the largest regional market for plastics in 2013. The European & North
American markets are quite mature and are said to grow slowly than other regions. The
Central & South America region is estimated to register the maximum CAGR of over 6.5 %
from 2014 to 2020.
Major companies in the plastics market are Saudi Basic Industries Corp.; E. I. du Pont de
Nemours and Company; and BASF SE.
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