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Plastics Market Share, Size, Analysis, Growth, Trends and
Forecasts to 2020| Hexa Research
" Increasing demand for flexible and durable
products for several end-use applications has been a
major factor responsible for the growth of global
plastics market."
The global Plastics Market is expected to grow rapidly at a healthy CAGR of over 8 % from 2014 to 2020.
Plastics are synthetic/semi-synthetic organic solid materials that are used to create various valuable
products. On account of the ease of manufacture, low cost, flexibility of use, and availability of raw materials,
plastics have replaced a number of conventional materials such as paper, wood, metal, leather, glass, and
ceramic in the majority uses. This is also projected to boost the global market. Moreover, vario us
technologies that reprocess plastics are anticipated to be the key growth drivers for the global market.
However, the fluctuating prices of raw materials along with the rising environmental concerns related to
plastic disposal are likely to hamper the market growth in the near future. To beat such challenges, the
market players have shifted their focus towards developing some bio-based alternatives to usual plastics. The
industry is categorized into products, applications, and regions.
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 o f 9 % from 2014 to 2020.
Browse Details of Report @ https://www.hexaresearch.com/research-report/plastics-industry
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