As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The plastic industry is being aided by the extensive use of the product in the electronics and healthcare industries. As plastics do not conduct electricity, they have various applications in the electronics industry, which is propelling the industry growth. They are widely used to insulate electric wiring, switches, light fittings, and handles and in various electrical appliances, such as electric razors, hairdryers, and food mixtures, consequently invigorating the market growth. Moreover, plastics are widely used in the healthcare industry owing to their excellent barrier properties. They have diverse applications and are used in various equipment, such as sterile syringes, gloves, adhesive band strips, intravenous blood bags, and IV tubes, among others, which is aiding the growth of the plastic industry. Additionally, with the increasing research and innovations, plastics are also used as orthopaedic devices and prosthesis to align, support, or correct deformities, hence augmenting the market growth.
The leading companies are focussing on creating a sustainable environment by recycling plastic waste. Eastman Chemical Company (NYSE: EMN), one of the leading players, announced the development of world scale plastic to a plastic modular recycling facility in Kingsport in January 2021. The facility will convert polyester waste into durable products and address the global waste crisis and climate change. The company has invested nearly $250 million in the facility to convert nearly 100,000 metric tons of plastic wastes to produce premium and high-quality speciality plastic made of recycled products. Moreover, the company has committed to recycle more than 250 million pounds of plastic wastes annually by 2025. Such developments not only promote the sustainable use of plastics but also further aids the market growth for plastics.
Market Analysis by Product, Application, End Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global market for plastic are BASF SE, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Lyondellbasell Industries Holdings B.V., and Eastman Chemical Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.
EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.
Expert Market Research
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.