OTTAWA, 26 November 2020 (GLOBE NEWSWIRE) – The commercial plastics market is expected to grow at a compound annual expansion rate (CAGR) of 4. 9% during the forecast era from 2020 to 2027.
Industrial plastic is an artificial compound widely used in commercial programs such as automotive, packaging, electronics and electricity, construction, health, aerospace and defense, and many other industries. Complex homes are presented through plastics such as moldability, maximum tensile strength and simply the right mechanical homes make them favorable for commercial programs. ), polytetrafluoroethylene (PTFE), polyeterimide, polyeterimide, polyeterimide, polyether.
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Growth factors
In addition to the slow expansion of the automotive industry, the expansion of lighter cars and electric cars is expected to provide new opportunities for commercial plastics brands in the coming years. Governments’ strict regulatory policies in several regions have further encouraged the expansion of the plastics commercial industry.
Highlights of the report
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Regional snapshots
The European marketplaceplace has undergone a slow expansion in recent years and is expected to expand again in the coming years. The strict emission criteria for industries, namely the chemical industry, are expected to be the main points restricting marketplaceplace’s expansion in the region. A significant call from the automotive industry as a replacement for heavy parts is probably to promote the expansion of market locations in the region.
By contrast, the recent COVID-19 outbreak in early 2020 is expected to hinder demand for products basically in customers’ electrical and electronic, automotive, structure and goods applications. The epidemic has also led to restrictions on the source and transport, closure or slowdown of production processes and a slowdown in infrastructure that is expected to have a negative effect on demand for commercial plastics in the coming years.
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Keys and strategies
Some of the main players operating in the market are SABIC, BASF SE, Victrex Plc, Evonik Industries AG, Ensinger Gmbh, Lyondellbasell Industries Holdings BV, Eastman Chemical Company, Arkema SA, Solvay SA, Teijin Limited, Formosa Plastics Corporation, Mitsubishi Engineering- Plastics Corporation, Toray Industries, Inc. , Covestro AG and Mitsui
Market segmentation
By product
By application
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