Molded Plastics Market
REPORT DESCRIPTION
Molded Plastics Market ( Material Type - Polypropylene , Polyethylene , Polyvinyl Chloride , Polystyrene , Polyethylene Terephthalate , Polyethylene Terephthalate ; Technology - Injection Molding , Injection Molding , Blow Molding , Thermoforming ; Application - Packaging , Consumable & Electronics , Automotive & Transportation , Building & Construction ) - Global Industry Analysis , Size , Share , Growth , Trends and Forecast 2016 – 2024
In a highly fragmented global molded plastics market , in 2015 , the top 10 companies held only 40 % of the overall market . Some of these are companies are Chevron Philips Chemical Company LLC , Eastman Chemical Company , SABIC , BASF SE , and LyondellBasell Industries N . V . Top companies in this market have established high brand equity due to a long presence in this market , notes a study by Transparency Market Research . This factor , along with the technical expertise of key companies makes it difficult for new and small companies to compete with them .
“ Focus on renewable raw materials to manufacture plastics for packaging industries is one of the key strategies that key players in this market have adopted , says the author of this study . Strengthening global presence by targeting emerging markets with high growth potential has also been adopted to accelerate growth . A case in point is BASF SE . In October 2015 , the company established an engineered plastics compounding unit in South Korea and have plans to expand its existing engineered plastics compound capacities in Germany by the end of 2017 .
The global molded plastics market was pegged at US $ 124.8 bn in 2015 and is expected to be worth US $ 202.2 bn by 2024 at a CAGR of 5.6 % therein . The market is expected to display a CAGR of 4.3 % between 2016 and 2024 in terms of volume .
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Transparency Market Research
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