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Plastics Market Segmentation Analysis

2025-01-16

1. Polyethylene and Polypropylene Types Lead the Market Due to their Increasing Adoption in Packaging Products

Based on type, the market is segmented into polyethylene, polyethylene terephthalate, polyvinyl chloride, polypropylene, polyamide, acrylonitrile butadiene styrene, polycarbonate, polyurethane, polystyrene, and others. Amongst these, polyethylene and polypropylene are the major types due to their augmented demand from the application areas such as packaging and automotive. Several manufacturers use polymers for packaging their products due to their durability and act as a barrier to prevent the product from moisture. The usage in the automotive industry is increasing as manufacturers are reducing the vehicle's weight to increase efficiency and minimize carbon emissions.

Polyvinyl Chloride (PVC) is mainly used in producing pipes & fittings owing to its numerous advantageous properties such as electric insulation, high elasticity modulus, thermal insulation, and chemical resistance. The construction industry uses PVC products, such as frames, doors, and windows, with their longer life cycle, enhanced looks, and easy availability of material. Polyethylene Terephthalate (PET) is used on a large scale for applications such as bottling and packaging. It observed high demand for packaging in food & beverage industries as it is lightweight, non-toxic, strong, and can be recycled easily. Due to its strong and flexible nature, PET material is also used for 3D printing.

Polyamide is majorly used in industries, such as textile, and others, owing to its solid and flexible properties. It exhibits good elasticity, high tensile strength, and is wrinkle-proof. These benefits make it suitable for clothes, mats, and other products. Polyurethane, in foam form, observed high demand in the furniture and automotive industries. Polycarbonate is mainly used for electrical & electronics applications due to its high electrical insulation property.

Acrylonitrile Butadiene Styrene (ABS) is a rigid and sturdy polymer that provides resistance to chemicals. Hence, it is used in camera bodies, housing appliances, packing crates, and luggage. Polystyrene has exhibited high demand from electronics and packaging industries owing to its insulating and cushioning properties.

2. BY END-USE INDUSTRY ANALYSIS

Rising Food & Beverage Industry to Boost Packaging Segment Revenue

In terms of end-use industry, the market is segmented into automotive & transportation, packaging, consumer goods/lifestyle, infrastructure & construction, healthcare & pharmaceutical, electrical & electronics, textile, and others. The packaging segment will hold the highest plastics market share and grow at the highest CAGR during the industry forecast period. This growth is associated with high product demand from the food & beverage packaging industry. The increasing use in manufacturing construction products, such as films for windows, floor covering, and pipes and fittings, is boosting product adoption in the infrastructure & construction industry.

Similarly, the rapidly growing consumer goods/lifestyle and automotive & transportation end-use industries are expected to aid the market in the assessment period. The rising adoption of polymers in the automobile industry to increase vehicle efficiency and the vehicle components’ life is responsible for the growth in the market. These polymers are easily moldable, flexible, and highly durable, which makes them the most favored material for manufacturing numerous products such as housewares, iceboxes, toys, packaging materials, and containers.

The increasing utilization of polymers in the healthcare sector can be credited to their property of guarding against contaminants by acting as a hurdle. Healthcare products, such as bandage strips, gloves, blood bags, syringes, and prosthetics, are manufactured using several polymers. The electrical & electronics industry produces light fittings, household appliances, and switches due to their insulating properties.