Market Size of Thermoplastics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 6.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thermoplastic Market Analysis
The thermoplastics market is expected to register a CAGR greater than 6% during the forecast period.
The COVID-19 outbreak caused worldwide lockdown, disruption in manufacturing activity and supply networks, and production halts, all of which harmed the market in 2020. However, conditions began to improve in 2021, resuming the market's growth trajectory throughout the projection period.
- The expanding capacity additions in downstream processing and the growing consumer goods and electronic sectors are projected to benefit the market under consideration.
- However, environmental concerns related to thermoplastics are expected to hinder the market's growth.
- The growing popularity of bio-based products is expected to act as an opportunity for the market.
- The Asia-Pacific region is expected to dominate the market and will likely witness the highest CAGR during the forecast period.
