Plastics And Rubber Products Market Size, Status and Forecast 2020- Bridgestone Corporation; Michelin Inc; Good Year Tire & Rubber Company
Harrisburg, NC -- (SBWIRE) -- 10/22/2020 -- The global plastics and rubber products market is expected to decline from $1378.6 billion in 2019 to $1345.4 billion in 2020 at a compound annual growth rate (CAGR) of -2.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $1633.9 billion in 2023.
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Top leading Manufactures Profiled in Plastics And Rubber Products Market Report are:
Bridgestone Corporation; Michelin Inc; Good Year Tire & Rubber Company; Continental Tire the Americas; S C Johnson & Son Inc.
Plastics And Rubber Products Market Scenario:
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.
Asia Pacific was the largest region in the global plastics and rubber products market, accounting for 40% of the market in 2019. North America was the second largest region accounting for 27% of the global plastics and rubber products market. Africa was the smallest region in the global plastics and rubber products market.
Many plastic and rubber manufacturing companies are adopting 3D technology to design and develop new plastic and rubber products. Using this technology designers, engineers and manufacturers are creating new models and mold parts. The products made using 3D printers have good mechanical properties like strength and rigidity. For example, Stratasys developed one such color multi-material 3D printer which can combine colors with multi-material 3D printing. The printer uses cyan, magenta and yellow colors and plastics and elastomers as base materials to print objects with wide ranges of flexibility and rigidity, transparency and opacity.
The key insights of the Plastics And Rubber Products Market report:
The report provides key statistics on the market status of the Plastics And Rubber Products market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Plastics And Rubber Products market report presents the company profile, product specifications, capacity, production value, and 2015-2020 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2020-2026 market development trends of Plastics And Rubber Products Market.
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Plastics And Rubber Products Industry before evaluating its feasibility.
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In conclusion, Plastics And Rubber Products market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Plastics And Rubber Products Industry business competitors. Our expert research analyst's team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.
How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234