Global Molded Plastics Market to Reach Us$ 202.29 Bn by 2024, Asia Pacific Along with Middle East & Africa to Exhibit Strong Growth

Transparency Market

Research

Molded Plastics Market - Global Industry Analysis,

Size, Share, Growth, Trends and Forecast 2016 - 2024

Published Date

24-Aug-2016

201 Page Report

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Companies Focusing on Emerging Economies to Benefit

Most from Opportunities in Molded Plastics Market, predicts

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Molded Plastics Market

REPORT DESCRIPTION

Molded Plastics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 2024

The global molded plastics market is highly fragmented with the top 10 companies accounting for only 40% of

the overall market in 2015. These companies include Chevron Philips Chemical Company LLC, BASF SE,

Eastman Chemical Company, LyondellBasell Industries N.V., and SABIC. Transparency Market Research finds

that most market leaders have benefited from experience and have, over the years, developed technical

expertise. They have also established high brand equity, making it immensely difficult for new and small

players to compete with them.

“The development of new plastic materials and competitive pricing are some of the key strategies though which

companies have penetrated the molded plastics market,” the author of the study says. Establishing a wider

global presence to respond to emerging trends faster is also being seen as a technique to accelerate growth.

BASF is one such company that has strengthened its global network by targeting emerging markets with high

growth potential. In October 2015, the company set up an engineered plastics compounding plant in South

Korea and plans to expand its existing compound capacities for engineered plastics at its site in Germany by

2017.

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