Molded Plastics Market 2016 Share, Trend, Segmentation and Forecast Molded Plastics Market - Global Industry Analysis, | Page 2

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Europe and North America Face Maturity, APAC to Present Lucrative
Opportunities
Geographically, the molded plastics market has been segmented into five regions:
North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
Asia Pacific, with countries such as India and China, led the global molded plastics
market by volume, and is anticipated to account for a share of 49% by the end of
2016. This is followed by Europe and North America and the total revenue in these
two regions together will constitute around 29% of the total market value by 2016
end.
Asia Pacific is expected to remain the most attractive region for the molded plastics
market given that more than half the global population and emerging markets are in
Asia Pacific. As a result, international players have increased their focus on the
region.
The Middle East and Africa is a fast-growing region, with the GCC leading the market
for molded plastics in terms of volume. This regional market is anticipated to
expand at a CAGR of 6.5% between 2016 and 2024. Companies such as SABIC in
Saudi Arabia are rapidly increasing their capacity for polypropylene, polyethylene,
and other polymers to take advantage of untapped avenues.
The markets for molded plastics in North America and Europe are rather mature and
provide limited opportunities in terms of untapped potential. However, the CIS
region in Europe is a bright spot where the molded plastics market is expected to
expand at a faster pace than in other parts of the region.
Key players in the molded plastics market include BASF SE, Eastman Chemical
Company, SABIC, Huntsman Corporation, LyondellBasell Industries N.V., INEOS
Group AG, Chevron Phillips Chemical Company LLC, Reliance Industries Limited,
Harwal Group, Al Watania Plastics, Obeikan Investment Group (OIG), and Takween
Advanced Industries.
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