What is Plastic Pellet Market?
Plastic pellets, also known as pre-production plastic resin pellets and nurdles, are small shaped granules, that are heated, molded and transformed into final plastic products. The pellets are considered to be an industrial raw material and most of the consumer products made out of plastic including bottle, plastic bags, toy and other. According to PlasticsEurope, global plastic production has increased by nearly 8.6% year-on-year. The surging demand and growth of plastic pellets are linked to the demand for plastic products across the world.
The market study is being classified by Type (LDPE, PET, HDPE, PE, PVC, PP, ABS and Others), by Application (Automotive, Construction, Electronics, Machinery and Packaging) and major geographies with country level break-up.
DOW (United States), BASF (Germany), DuPont (United States), ExxonMobil (United States), Sabic (Saudi Arabia), LG Chemical (South Korea), Chevron Phillips Chemical (United States), Lyondellbasell (Netherlands) and INEOS (United Kingdom) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are PolyVisions Inc. (United States).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Plastic Pellet market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Plastic Pellet market by Type, Application and Region.
On the basis of geography, the market of Plastic Pellet has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The growth of construction and packaging industry in emerging economies including India, China, Brazil and other
- Growing population coupled with rapid urbanization and industrialization across the globe
Market Trend
- Growing Polyethylene Terephthalate (PET) demand for the carbonated soft drink packaging industry
Restraints
- Environmental concerns raised due to the harmful effects of plastics
Opportunities
- Increasing consumption of plastic within the domestic market
ISPM 15 is a standard developed by the International Plant Protection Convention (IPPC). Pallets which comply with this standard have been marked with a stamp to verify their origin and method of treatment. and This standard is a requirement for freight pallets in a large part of the world including Australia, New Zealand, Europe, North and South America. Each country which has adopted ISPM 15 regulation has a customs and biosecurity department which controls standards quality of inbound materials.
Key Target Audience
Plastic Pellets Manufacturers, Distributors, Suppliers and End-Users, Plastic manufacturers and Others