China Plastics Market – Analysis by Product, Application and Forecast (2022-2029)

China Plastics Market was worth US$ 73.48 Bn in 2021 and total revenue is expected to grow at a rate of 3.73 % CAGR from 2022 to 2029, reaching almost US $ 98.49 Bn in 2029.
China Plastics Market Overview:
The China government has begun to problem proposals & goals that could have that nation connection smaller controls which banned numerous types of single-use plastics. MMR report study says the country of 1.4 Bn people connection this movement could have huge impacts on worldwide plastic supply & demand.
It is a very practical condition which China will lead the worldwide in prohibition single-use plastics which have no actual social value whilst also making a new, state-of-the-art recycling industry which plays with the very best in the world. The claims both for raw polymers demand & for the quantity of that demand which is seen by recycled production are expected to be very important.To know about the Research Methodology :- Request Free Sample Report

Plastics demand in China is by volume is the largest in the world, & its development in demand is also the biggest. China is the major plastic import market at global level, particularly for polyethylene, about half of the demand for that is in single-use plastics. So, whatever occurs in China is a huge deal for the worldwide polymers business. Chinese government have showed the country will ban no degradable plastic shopping bags & plastic straws. Those footsteps mark just the 1st phase of a 5-year plan to ban the making, sale & use what is expected to be numerous types of disposable plastic products.

Chinese government has exposed its earlier inclination to act quickly on plastics when it came to pushing a halt to plastic scrap imports in the year 2021 & 2022. Then, discussions with senior petrochemical industry managers with associates to the Chinese government advised that country required to go further – by undertaking the much bigger issues of domestic plastic rubbish. Incorrectly waste plastic is adding to China’s deficiency of potable water, as of course lots of is windup up in rivers, polluting the water supply. It, therefore, looked likely that bans of single-use plastic would be led, & so there is no actual surprise that the prohibitions have been announced.

In similar, there are news that country is to renovate its plastics recycling business as a means of dropping dependence on imported raw resins & adding value to its economy. The current domestic recycling industry is, on the whole, extremely messy & inefficient.
China Plastics Market Segment Analysis
Based on revenue, polyethylene have the major share of more than 25.32 percent in the year 2021. It is mainly used in the packaging sector, which covers containers & bottles, bags & films. It discovers usage in several applications. Increasing demand for packed food, trays, and bottles for beverages, crates, & caps for food packaging, drums, & other fluid food packaging due to limitations on the movement of persons to reduce the extent of COVID-19 through the world is estimated to drive the demand for PE during the forecast period. ABS is one of the encouraging product sectors in the market. Acrylonitrile butadiene styrene is extensively used in consumer goods & electrical and electronics applications & is gaining fame due to its outstanding rigidity, high strength, & dimensional solidity.
Variations in plastic waste trade current pattern succeeding to the China ban:
Before the prohibition, mainland China was only major importer of plastic waste, importing around 55.7 percent of total (14,304,561 tons) plastic waste. Hong Kong, China, was one of the most major transshipment ports for plastic waste intended for mainland China, transporting around 3,184,176 tons of plastic waste per year to China. The United States of America, Japan & 7 European countries, correspondingly exported 77.9 percent, 87.6 percent, & 57.5 percent of plastic waste to China. In adding, 5 Southeast Asian nations were also destinations for plastic waste. Polyethylene accounted for 37 percent of the plastic waste trade flow between the eighteen model nations & ranked 1st. PP, PET, & others accounted for 23 percent, 12 percent, & 14 percent respectively, while PS & PVC were under 8 percent. The market share of PE in Hong Kong was as extraordinary as 46.2 percent, which made the PE flow from Hong Kong to China mainly prominent.
China Challenges Its Plastic Issue:
Beijing revealed a determined idea to decrease the nation’s single-use plastics. Non-biodegradable plastic bags will be banned in main metropolises, such as Beijing & Shanghai, by the year 2021, & through all cities & towns by 2023. Exclusions will be completed, however, for marketplaces selling fresh goods. The catering & restaurant industry will be compulsory to decrease single-use plastics by 30 %, with a ban on plastic utensils & non-biodegradable straws by 2021. Distinctly, within 5 years, the hotel industry must stop proposing single-use plastic items & the postal facility must end the use of plastic packaging. The crackdown on plastic usage & production in China includes timelines for numerous products to be phased out by the mid of the decade, 1st in main cities, followed by all other metropolises & towns, as well as rustic areas. The improvements were announced by the Chines government.

The objective of the report is to present a comprehensive analysis of the China Plastics Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the China Plastics Market dynamics, structure by analyzing the market segments and project the China Plastics Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the China Plastics Market make the report investor’s guide.
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Global China Plastics Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 73.48 Bn.


Forecast Period 2022 to 2029 CAGR:
3.73%
Market Size in 2029:
US $ 98.49 Bn.


 Segments Covered:
by Product
• Polyethylene (PE)
• Polypropylene (PP)
• Polyvinyl chloride (PVC)
• Polyethylene terephthalate (PET)
• . Others


by Application
• Injection Molding
• Casting
• Thermoforming
• Extrusion
• Others


by End-use
• Packaging
• Construction
• Electrical & Electronics
• Automotive
• Medical Devices
• Agriculture
• Consumer Goods
• Others



China Plastics Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
China Plastics Market key player
• Huizhou Djmolding Co., Ltd
• Shin Fang Plastic Industrial Co., Ltd.
• Tekfun Co., Ltd.
• LONG DURABLE MACHINERY CO., LTD.
• Shang Ta Chia Industrial Co., Ltd.
• Chief Ling Enterprise Co., Ltd.
• Tay Young Industrial Co., Ltd.
• Ceradex Corporation
• Others
Frequently Asked Questions:
1) What was the market size of China Plastics Market markets in 2021?
Ans - China Plastics Market was worth US $ 73.48 Bn in 2021.

2) What is the market segment of China Plastics Market markets?
Ans -The market segments are based on Product, Application, and End User.

3) What is forecast period consider for China Plastics Market?
Ans -The forecast period for China Plastics Market is 2022 to 2029.

4) Which are the worldwide major key players covered for China Plastics Market report?
Ans – Huizhou Djmolding Co., Ltd, Shin Fang Plastic Industrial Co., Ltd., Tekfun Co., Ltd., LONG DURABLE MACHINERY CO., LTD., Shang Ta Chia Industrial Co., Ltd., Chief Ling Enterprise Co., Ltd., Tay Young Industrial Co., Ltd., Ceradex Corporation, Others.

5) What was the market size of China Plastics Market markets in 2029?
Ans - China Plastics Market was worth US $ 98.49 Bn in 2029.