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Global Plastics and Rubber Products Market Report 2022

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Major companies in the plastic and rubber products market include Michelin Group, Bridgestone Corporation, Continental AG, Amcor Limited, Good Year Tire & Rubber Company, Sumitomo Rubber Group, Berry Global Group Inc.

New York, April 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Plastics And Rubber Products Global Market Report 2022” – https://www.reportlinker.com/p06251035/?utm_source=GNW
Hankook Tire Group, Pirelli & C SpA and Avery Dennison.

The global plastics and rubber products market is expected to grow from $1,229.98 billion in 2021 to $1,357.49 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to reach $1,923.6 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%.

The plastics and rubber products market includes the sales of plastics and rubber products by entities (organizations, sole proprietorships, and partnerships) that produce goods by processing plastic and rubber raw materials. Plastics and rubber products are included in the same market because they have similar technical characteristics. properties, although they are classified according to the sole use of rubber or plastic as a raw material in the production of the product.

Companies in the industry produce plastic bags and bottles, plastic films and sheets, plastic and rubber pipes, plastic foams, rubber pipes and tires.

The main types of plastic and rubber products are rubber products and plastic products. Plastics are a broad class of synthetic or semi-synthetic compounds made primarily of polymers.

Plastics can be shaped, stretched or compressed into solid objects of various shapes due to their fluidity. The different sectors include automotive and transportation, electrical and electronics, medical, construction and others.

Asia-Pacific was the largest region in the plastics and rubber products market in 2021. North America was the second largest region in the plastics and rubber products market.

Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

New Developments in Packaging – The plastics and rubber products manufacturing industry is affected by the growth of the packaging industry. There are a number of new developments in the packaging industry that will drive the demand for plastic materials.

Convenience features such as resealable packs, easy-to-open stand-up pouches and smaller packs for single servings are being introduced and more promotional packs and brand extensions are being developed to ensure the customer loyalty. These developments in packaging will increase the consumption of plastics and rubber and boost the market.

Coronavirus Pandemic – Coronavirus disease (COVID-19) outbreak acted as a massive restraint in the plastics and rubber products manufacturing market in 2021 as supply chains were disrupted owing to the trade restrictions and consumption has decreased due to lockdowns imposed by governments around the world.COVID -19 is an infectious disease with flu-like symptoms including fever, cough and difficulty breathing.

The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in the shutdown of manufacturing activities and a decline in economic activity with countries entering a state of “lockdown” and the epidemic has had a negative impact on the companies throughout 2021 and into 2021.

However, the plastics and rubber products manufacturing market is expected to recover from the shock during the forecast period as it is a “black swan” event and not related to persistent or fundamental weaknesses in the market or the global economy.

Manufacturers in the plastics and rubber products industry are investing in automation technologies to reduce production costs, improve productivity and improve product quality. The use of sensors and wireless technology helps collect valuable data which is used to improve efficiency and reduce errors.

This results in streamlined manufacturing processes, higher product quality at lower cost. According to ABB, a manufacturer of industrial robots, some of their customers have reported a 15-30% increase in productivity after installing robotic automation systems.

Around 180,000 machines are employed in the plastic manufacturing industry in 2021, an increase of 67,000 machines in 4 years. Major companies providing industrial robotics include FANUC Corporation, Yaskawa Electric Corporation, ABB Group, KUKA AG, and Kawasaki Heavy Industries, Ltd.

The countries covered in the plastic and rubber products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark , Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland. , Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela, Vietnam.
Read the full report: https://www.reportlinker.com/p06251035/?utm_source=GNW

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