The fossil fuel-based plastics market is segmented based on product, application, and region. Based on type, the market is segmented into Polyethylene (PE), polypropylene (PP), polyvinyl chloride, polyethylene terephthalate, polystyrene. Polyethylene (PE) and polypropylene (PP) are the most widely produced types of plastic, which can be found in many daily use products, including plastic bags and food packaging. Ethylene and propylene are particularly critical in the production of plastic packaging which is the largest and fastest-growing category of plastics products.
Plastics are made from natural materials such as cellulose, coal, natural gas, salt, and crude oil through a polymerization or polycondensation process. Fossil fuel-based plastics are polymers made from petrochemicals, whereas bio-based plastics are made from plant-based sources, like starch and cellulose. More than 99% of the plastic sourced from chemicals comes from fossil fuels. This showcase a strong link between fossil fuel and plastic industries. Indeed, the fracked gas boomed a massive plastic infrastructure expansion in the United States and beyond.
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The fossil fuel-based plastics market is segmented based on product, application, and region. Based on type, the market is segmented into Polyethylene (PE), polypropylene (PP), polyvinyl chloride, polyethylene terephthalate, polystyrene. Polyethylene (PE) and polypropylene (PP) are the most widely produced types of plastic, which can be found in many daily use products, including plastic bags and food packaging. Ethylene and propylene are particularly critical in the production of plastic packaging which is the largest and fastest-growing category of plastics products.
Segmentation Analysis of Global Fossil Fuel-Based Plastics Market
Global Fossil Fuel-Based Plastics Market is bifurcated into three major categories: product, application, and region.
Based on the product, the global market for fossil fuel-based plastics is divided into:
- Polyethylene (PE)
- polypropylene (PP)
- polyvinylchloride
- polyethylene terephthalate
- polystyrene
- Others
Based on application, the global market for fossil fuel-based plastics is divided into:
- Packaging
- Construction
- Automotive
- Medical Devices
- Furniture & Bedding
- Consumer Goods
- Electricals
- Other
Based on the region, the global market for fossil fuel-based plastics is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Fossil Fuel-Based Plastics Market: Regional Outlook
The Asia Pacific dominated the market and accounted for a 35.5% share of global revenue in 2019. The major demand for fossil fuel-based plastics is expected to rise from China, India, and Japan. Increasing industrialization and urbanization in these regions is expected to drive market growth over the coming years. Favorable government policies and regulations to promote the development of renewable energy technologies are projected to propel market growth over the forecast period.
North America is the second-largest plastic producer accounts to the potential growth of fossil fuel-based market in the forecast period. However, government rules and regulations prohibiting the use of fossil fuel-based plastics makes it difficult for manufacturers to find end-users. Also, the manufacturers tend to invest more in the corporate social responsibility activities so as to manage the waste that is produced by fossil fuel-based plastics.
The Global Fossil Fuel-Based Plastics Market Report Covers Exhaustive Analysis On:
- Fossil Fuel-Based Plastic Market Segments
- Fossil Fuel-Based Plastic Market Dynamics
- Fossil Fuel-Based Plastic Market Size & Demand
- Fossil Fuel-Based Plastic Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Fossil Fuel-Based Plastic Market Value Chain
The Global Fossil Fuel-Based Plastics Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, RoE)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, ANZ, Rest of Oceania)
- MEA (GCC Countries, South Africa, Turkey, Rest of MEA)
The fossil fuel-based plastics market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The global fossil fuel-based plastics market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The global fossil fuel-based plastics market report also maps the qualitative impact of various market factors on market segments and geographies.
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