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Frost & Sullivan acknowledges that the global plastics and composites market is extremely diverse. The end markets of this industry have been undergoing varied degrees of transformation due to a number of Mega Trends such as the Covid-19 pandemic and international trade wars and product and end-user specific existing and emerging trends.

This research service analyses the 2020 global plastics and composites market in various applications and its outlook for 2021. The main end industries covered include automotive, building and construction, consumer goods and household, electrical and electronics, medical, packaging, and others (sports and leisure, housewares, furniture, footwear, wind turbine applications, and oil and gas pipelines). Frost & Sullivan’s forecasts are the weighted average of the impact COVID-19 has on key market trends. The highlights of 2020 and top trends of 2021 are discussed. Revenue forecasts are provided for each application and plastic type segment from 2019 to 2021. The study revisits the predictions from 2020 to analyse what happened and what is in store for all the themes. This study also identifies the top 8 predictions for the plastics and composites market for 2021 and discusses the potential implications on various industry segments. The analysis gives a snapshot of major mergers and acquisitions in the industry in 2020. Regional analysis is done for North America (US, Canada), Latin America (including Central and South America, and Mexico), Europe (EU-27, UK, Norway, Switzerland, and Russia), the Middle East and Africa (includes Turkey), China, India, Japan, and Rest of Asia-Pacific (Southeast Asia, Australia, New Zealand, and Rest of South Asia).

The initial sections of the study provide a comparison between emerging regions and developed regions to highlight the key economic trends and regulations affecting the overall chemicals and materials market. Furthermore, regional analysis for each of the mentioned regions has been provided to include the economic outlook, regulatory trends, as well as key product and technology trends. Under each industry segment section, a market snapshot consisting of 2019 and 2020 revenue and 2021 conservative and aspirational forecasted revenues and per cent revenue forecast by region. (Frost & Sullivan has assumed an aspirational and a conservative scenario for COVID-19 containment. In the aspirational scenario, Frost & Sullivan assumes that the COVID-19 virus is contained by March 2021, and businesses are able to resume operations at full capacity by the last quarter of 2021. In the conservative scenario, Frost & Sullivan assumes that it will take more than 18 months to contain the virus and businesses will resume operations at full capacity after 2 years.)