Commodity Plastics Market Size

Commodity Plastics Market size was valued at USD 490.6 billion in 2023 and is poised to cross USD 698.5 billion by the end of 2036, expanding at more than 3.5% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of commodity plastics is evaluated at USD 503.5 billion.

The growing use of commodity plastics for manufacturing disposable cups, polyester-based textiles, reusable bags, and magnetic tapes is a primary factor driving market expansion. Commoditized plastic products are produced in large quantities based on the high demand from various industries, including packaging, photography, electronics, and pharmaceuticals. These plastics are easily recycled, making them ideal for sustainable packaging applications. For instance, in February 2023, Total Energies and Ecolab collaborated to introduce recycled plastic packaging, aiming to accelerate the transition to a circular economy in industrial verticals that heavily rely on packaging. This has fostered adoption of post-consumer recycled (PCR) plastic for the packaging of highly concentrated cleaning products.