HOME Research Insight Exxon Mobil (US) and Dow Chemical (US) are the Most Active Players in the Commodity Plastics Market



Exxon Mobil (US) and Dow Chemical (US) are the Most Active Players in the Commodity Plastics Market


The commodity plastics market is projected to grow from USD 359.42 Billion in 2017 to USD 493.74 Billion by 2022, at a CAGR of xx% during the forecast period. Commodity plastics are primarily thermoplastic resins which are produced in high volume and at a lower cost in comparison to other plastics. These plastics are used in various applications such as automobile, construction, packaging, electrical & electronics, and medical & pharmaceutical

The increasing usage of commodity plastics in packaging application and increasing disposable income is generating the demand for consumer goods, which is further expected to drive the commodity plastics market. Key companies operating in this market have adopted various growth strategies, such as new product launches, expansions, and agreements & contracts to strengthen their foothold in the market. Dow Chemical (US), Exxon Mobil (US), BASF (Germany), Sinopec (China), and SABIC (Saudi Arabia) are the leading players in this market.

New product launches, expansions, and acquisitions were the key growth strategies adopted by industry players between 2015 and 2017 to enhance their business prospects. Besides new product launches and expansions, companies have also adopted the strategy of joint ventures and acquisitions to expand their global reach and widen their distribution network. These strategies accounted for a significant share of all the growth strategies adopted by key players in the commodity plastics market.

Most active players in the commodity plastics market

Exxon Mobil (US) develops commodity plastics, including PP and PE, for various applications such as packaging, automotive interior, pharmaceutical, furniture & toys, and textiles. The company manufactures and supplies commodity plastics through its chemical business segment. It has adopted strategies such as expansions and mergers to increase its market share. For instance, in 2017, Exxon Mobil Corporation expanded its PE production capacity by 1.3 million tons per year at the Mont Belvieu Plastics Plant (US).

Dow Chemical (US) is one of the leading innovation-driven companies that develop innovative commodity plastics technology. The company has adopted the strategy of new product launches, expansions, and mergers to strengthen its position in the commodity plastics market. For instance, in 2017, the company launched new PE based product TF-BOPE for packaging application.

Other key manufacturers of commodity plastics include LG Chem (South Korea), Sumitomo Chemical (Japan), LyondellBasell (Netherlands), INEOS (Switzerland), Formosa Plastics (Taiwan), and Mitsubishi Chemical (Japan).

Related Reports:

Commodity Plastics Market by Type (PE, PP, PVC, PS, PMMA), Application (Packaging, Consumer Goods, Construction, Automobile, Electronics, Textile, Medical & Pharmaceutical), and Region (APAC, NA, EU, MEA, and SA) - Global Forecast to 2022

Contact:
Mr. Rohan
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA : 1-888-600-6441 
sales@marketsandmarkets.com

Connect Us

Follow us on LinkedIn  Follow us on Facebook   Follow us on Twitter 
Live Chat Support


US : 1-888-600-6441

Search reports