chemicalindustrygrowth

According to a report by Market Research Future (MRFR), the global plastics market is anticipated to exhibit a CAGR of 4.3% and to reach valuation of USD 791.2 Billion by the end of 2025. This growth is primarily attributable to the expanding usage of material across several household and industrial purposes. Additionally, continues expansion of the industries such as building & construction, electrical & electronics, automotive & transportation, packaging, and consumer appliances across developed and developing regions is estimated to fuel the global plastics market during the forecast period. In addition to this, the recycling of fossil fuel-based plastics is witnessing surge in demand for the plastics majorly for packaging applications. Emergence of the bio-based plastics is further spurring adoption of the plastics from various end use industries, which is estimated to drive the growth of the global plastics market. Further, increasing need for reducing weight among a...

Plastics Market   Synopsis According to the MRFR analysis, the  Global Plastics Market  was valued at  USD 545.2 billion in 2018  and is expected to reach over  USD 791.2 Billion   by the end of 2025  at a  CAGR of 4.3%. The plastics is one of the most evolving markets in the past few years. Plastic products are used in various industries such as automotive & transportation, building & construction, consumer appliances, electrical & electronics, packaging, and medical. The increasing demand for reinforced plastics is projected to drive the growth of the global plastics market during the forecast period. Moreover, biodegradable plastics are also gaining popularity in various industries since they are all sourced from plants and vegetable extracts. The biodegradable plastics market is projected to value more than  USD 6.5 billion  by 2025. Plastics Market   Opportunity Analysis The automotive industry is one of t...