Plastics Get Smarter.
The search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, smart polymers are materials that can manipulate their dimensions based on the changes in the environment. Nanocomposites are a product that is a result of a combination of nanotechnology and plastics engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant along with resistance to scratch, dent and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive and aerospace sectors.
PLASTIC MATERIALS AND RESINS MARKET TO REACH $1.14 TRILLION BY 2020 ACCORDING TO THE BUSINESS RESEARCH COMPANY.
The Business Research Company expects the global plastics material and resin market to grow to $1143 billion in 2020. Asia was the largest region in the plastics material and resin market in 2016, accounting for more than a half of the market share. Asia is the largest market partially because its growing middle classes in Asia are still first-time buyers of plastic products already in the household inventories of the developed economies.
The chart below shows the year-on-year growth of the global plastics material and resin market during 2016 - 2020.
According to The Business Research Company’s Chemicals Consultant, Yogesh Bathula, the plastics manufacturing industry is affected by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive the demand for plastic materials. Convenience features, such as resalable packs, easy-opening, stand-up pouches and smaller pack sizes for single-servings are being introduced and more promotional packs and brand extensions are being developed to ensure customer loyalty. These developments in packaging will increase the consumption of plastics and will drive the market growth.
Dow Chemical Company was the largest company in the chemicals market in 2015 with revenues of $18.4 billion for the financial year 2015. Its corporate strategies include:
Investment in a market-driven portfolio of advantaged and technology-enabled businesses that create value for its shareholders and customers,
A combination of low-cost and value-added products to enable superior value creation throughout the cycle,
Integrated manufacturing positions in chemicals, plastics, key materials and agriculture,
Low costs in all product and asset positions, leveraging integrated sites,
Presence in all growing geographic markets.
Resins are organic compounds consisting of a non-crystalline or viscous liquid substance. Natural resins are typically fusible and flammable organic substances that are transparent or translucent and are yellowish to brown in color. Some examples of resins include frankincense, myrrh and benzoin.
Plastic is a material consisting of any of a wide range of synthetic or semi-synthetic organics that are malleable and can be molded into solid objects of diverse shapes. Due to their relatively low cost, ease of manufacture, versatility, and rigidity to water, plastics are used in an enormous and expanding range of products, from paper clips to spaceships. Some examples of plastic materials include polyethylene terephthalate and polyvinyl chlorides.
Plastics materials and resins manufacturing industry comprises establishments involved in manufacturing resins, plastic materials, non-vulcanizable thermoplastic elastomers, customized mixing and blending of resins, and manufacturing of non-customized synthetic resins.
Thermoplastic Elastomers (TPE) are a special group of polymers that do not rely on cross-linking to produce a large amount of elastic deformation. They have both thermoplastic and elastomeric characteristics. Some examples of thermoplastic elastomers are copolymers of polystyrene and butadiene rubber. Thermoplastic elastomers can be categorized as vulcanizable thermoplastic elastomers and non-vulcanizable thermoplastic elastomers. They are plastic types with rubber properties
Vulcanizable Thermoplastic Elastomers are those that have at least one pendant reactive amino group.
Non-Vulcanizable Thermoplastic Elastomers are those that do not contain pendant reactive amino groups.
Synthetic Resins are a large group of synthetic products that are chemically very different from natural resins. The only physical property that is similar between synthetic and natural plant resins is that they are viscous liquids capable of hardening permanently.
Plastic Materials And Resins Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $750 for an individual user. To use across your office the price is $1000 and $1350 if you wish to use across a multinational company.
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