The Business Research Company’s Plastics And Rubber Products Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, July 9, 2021 /EINPresswire.com/ — According to the new market research report ‘Plastics And Rubber Products Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global plastics and rubber products market is expected to grow from $1259.7 billion in 2020 to $1352.6 billion in 2021 at a compound annual growth rate (CAGR) of 7.%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1700.8 billion in 2025 at a CAGR of 6%. The plastics and rubber products manufacturing industry is affected by the growth of the packaging industry.
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The plastics and rubber products market consists of sales of plastics and rubber products by entities (organizations, sole traders and partnerships) that produce goods by processing plastic and rubber raw materials. Plastics and rubber products are included in the same market as they have similar technical properties, though they are categorized based on the sole use of either rubber or plastic as raw material in the production of the product. Businesses in the industry produce plastic bags and bottles, plastic film and sheets, plastic and rubber pipes, plastic foams, rubber hoses and tires.
Trends In The Global Plastics And Rubber Products Market
Manufacturers in the plastic and rubber products industry are investing in automation technologies to reduce production costs, improve productivity, and enhance product quality. The use of sensors and wireless technology aids in gathering valuable data that is used to improve efficiencies and reduce errors. This is resulting in streamlined manufacturing processes, better product quality at lower costs. According to ABB, an industrial robot manufacturer, some of their customers reported an increase of 15-30% in productivity after installing robotic automation systems. Around 180,000 machines are expected to be employed in the plastic manufacturing industry by 2020, an increase of 67,000 machines over the course of 4 years.
Global Plastics And Rubber Products Market Segments:
The global plastics and rubber products market is further segmented based on type, end user industry and geography.
By Type: Rubber Products, Plastic Products
By End-User Industry: Automotive & Transportation, Electrical & Electronics, Medical, Construction, Others
Subsegments Covered: Tire, Hoses And Belting, Other Rubber Product, Plastics Packaging Materials And Unlaminated Film And Sheet, Plastic Pipes And Shapes, Laminated Plastics Plate, Sheet, And Shape, Plastics Bottle, Urethane And Other Foam Product, Polystyrene Foam Products, Other Plastics Product
By Geography: The global plastics and rubber products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global plastics and rubber products market, accounting for 40% of the market in 2020.
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Plastics And Rubber Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides plastics and rubber products global market overviews, analyzes and forecasts market size and growth for the global plastics and rubber products market, plastics and rubber products global market share, plastics and rubber products global market players, plastics and rubber products global market segments and geographies, plastics and rubber products global market’s leading competitors’ revenues, profiles and market shares. The plastics and rubber products global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Plastics And Rubber Products Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Plastics And Rubber Products Market Organizations Covered: Bridgestone Corporation; Michelin Inc; Good Year Tire & Rubber Company; Continental Tire the Americas; S C Johnson & Son Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Plastics And Rubber Products Global Market Report 2021:
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