PlasticsEdge™ Lead Generation Program: Call 978-342-9000 for details or email [email protected]
Plastics-News-Today-global plastics market-to-reach-USD-721-billion-by-2025 NEW YORK — PRNewswire — The global plastics market size is expected to reach USD 721.14 billion by 2025, according to a new report by Grand View Research, Inc., progressing at a CAGR of 4.0% during the forecast period. Increasing automotive production and subsequent rise in plastics consumption in automotive component fabrication because of regulatory policies pertaining to vehicular weight reduction and fuel efficiency will drive the plastic market over the forecast period. Plastics facilitate fuel saving in automotive applications on account of reduced car weight and density as compared to conventional materials such as metals or rubber.

Since the last decade, there has been a substantial demand for the products as replacement for metals and ferrous alloys across various industries such as consumer goods, automotive, and industrial machinery.The growth of the market criticality lies on various factors such as ever-increasing requirement of end users in terms of product specification and versatility influencing consumption dynamics.

Other factors such as socio-political, production process, and feedstock availability events also have a significant impact on industry trends.

Rapidly developing construction and automobile markets in Asia Pacific will increase the demand for plastics in interiors, exteriors, and under hood components. Its major applications include under hood components in the automotive industry, building interior & exteriors in the construction and infrastructure industries, and various applications in electronics and durables.

Asia Pacific is likely to witness the highest growth in the construction industry across the globe, wherein China is at the forefront of the growth.Growing population coupled with rapid industrialization and urbanization in emerging economies have influenced regional governments to increase their construction spending in order to cater to growing infrastructure needs.

Increasing construction spending by governments, particularly in China and India, will fuel the demand in infrastructure and construction applications.

Plastics are also witnessing substantial growth in the pipes and fittings segments on account of their lightweight, long life span, corrosion resistance, and reduced cost structures.

See the ‘Source Link’ for the full article
and the ‘Similar News Links’ below for more posts on this general topic

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Prodways Begins Work on Autonomous Dental 3D Printing

France — Since it was acquired by Groupe Gorgé in 2013, Prodways has...

KraussMaffei breaks ground on new Chinese plant

HAIYAN, China — German machinery manufacturer KraussMaffei Group has...

Book Review: “Peak Plastic” by Jack Buffington

By Peter Murphy — March 23rd, 2019 — “Plastics… There’s a great...

Anti-straw legislation causes increased thievery

New York Post — Mugs, cups, silverware, hot sauce — you name it: If...

Hadley bringing lightweight thermoform barriers to heavy trucks

ATLANTA, Ga. – Hadley is joining forces with its Corvac Composites...

Stupid Plastic Things

Laura Stec — Yeech! I was just cleaning up around the house and it...

Seafood packagers appealing to the senses in 2019

Seafoodsource.com — “A picture is worth a thousand words.” It’s an...

TransXL announces the completion of a management buyout

Swindon, UK — TransXL has announce the completion of a management...

Celanese (CE) to Hike Prices of Ateva EVA Polymers in Asia

Nasdaq.com — Celanese Corporation CE is set to hike selling prices...