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The global plastics market accounted for $621.9 billion in 2019 and is expected to reach $758.6 billion by 2025. The market is anticipated to grow at a CAGR of 3.37% during the forecast period 2020-2025.
The market growth is mainly attributed to the rising number of applications for plastics, increasing adoption and awareness rates of bio-plastics and recycled plastics, and heavy investments made in the research and development of bio-based plastic products and solutions. In addition, governments are coming up with policies and laws to encourage the development and usage of bioplastics in a transparent manner, which is expected to drive market growth during the forecast period.
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ResearchAndMarkets.com s offering.
The global plastics market accounted for $621.9 billion in 2019 and is expected to reach $758.6 billion by 2025. The market is anticipated to grow at a CAGR of 3.37% during the forecast period 2020-2025.
The market growth is mainly attributed to the rising number of applications for plastics, increasing adoption and awareness rates of bio-plastics and recycled plastics, and heavy investments made in the research and development of bio-based plastic products and solutions. In addition, governments are coming up with policies and laws to encourage the development and usage of bioplastics in a transparent manner, which is expected to drive market growth during the forecast period.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Chevron Phillips Chemical names Bruce Chinn Chief Executive Officer
March 1, 2021 GMT
THE WOODLANDS, Texas (BUSINESS WIRE) Mar 1, 2021
Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical) announced today that Bruce Chinn, currently president, Chevron Chemicals, will become chief executive officer. B.J. Hebert, currently executive vice president and chief operating officer, will become president and chief operating officer. Chinn and Hebert will succeed into the CEO and president roles held by Mark Lashier, who is retiring from Chevron Phillips Chemical. These changes will be effective April 1, 2021.
Commodity Plastic Market Size, Share & Trends Analysis Report by Application, by Region (North America, Europe, APAC, MEA), Segment Forecasts, And COVID-19