Industrial Plastics are materials consisting of semisynthetic/synthetic organic compounds that are malleable and can be molded into solid objects. And hence industries are manufacturing plastics focusing on product innovation & technological advancements by developing the plastics in product packaging. Various types of innovations in the plastic industry are biodegradable plastics that are environmental friendly, plastics are used during transportation relatively low costs and various other industrial purposes.
Industrial Plastic Market: Key Players
The research study includes profiles of leading companies operating in the global Industrial Plastic market. Key players profiled in the report include: BASF SE; SABIC; Victrex plc; Ensinger GmbH; Evonik Industries AG; LyondellBasell Industries Holdings B.V.; Arkema Inc.; Eastman Chemical Company; Solvay SA; Formosa Plastics Corporation; Teijin Limited; and Mitsubishi Engineering Plastics Corporation.
Drivers for the Global Industrial Plastic Market:
Rising usage of industrial plastic components in the packaging of various products & hi-tech machinery, demand of industrial plastics in pharmaceuticals & aerospace industries where light plastic material is required and developments in nanotechnology plastics as they offer thermal resistance, Outstanding strength, weight reduction & enhanced efficiency. These factors are owing to increase the growth and income of the industry globally and are the drivers of the market.
Opportunities for the Global Industrial Plastic Market:
Moreover, increasing usage of organic plastics that are made from paper and other organic material due to the less harm they do to the environment and also biodegradable plastics that can easily mix into the soil, increasing number of online markets where delivery of products is done in a plastic air tight package light weight plastics for automobiles and various other components of vehicles. Hence these factors are providing opportunities for the future growth of the market.
Restrains for the Global Industrial Plastic Market:
However, stalled industrial output due to shift from plastic to paper in some parts of the world, strict environmental regulations by various government bodies and increasing harm of plastic usage to the environment & animals. These factors can majorly hamper the growth of the industrial plastics market.
Region Wise, Global Industrial Plastic Market Analysis:
Europe held major share in the market due to general economic conditions, investment in new technology, increasing number of consumers and manufacturing. Besides, Asia-Pacific and North America held a large share in the market.
Global Industrial Plastic Market: Product analysis
- Polyphenylene Ether
- Acrylonitirle Butadiene Styrene (ABS)
- Polybutylene Terephthalate (PBT)
- Polysulfone (PSU)
- Polyphenylsulfone (PPSU)
- Liquid Crystal Polymers
- Polytettrafluoroethylene (PTFE)
Global Industrial Plastic Market: Application analysis
- Building & Construction
- Electrical & Electronics
- Automotive & Transportation
Global Industrial Plastic Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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