Plastic Market Set to Grow at 5% CAGR, Projected to Reach USD 714.03 Billion by 2030
A) Market Size The global Plastic Market reached USD 507.45 billion in 2023 and is expected to experience a steady growth rate of 5% annually, potentially hitting USD 714.03 billion by 2030. The increasing demand for plastic materials across diverse applications, including packaging, automotive, and healthcare, is driving this expansion. The market's growth reflects the continued reliance on plastics for manufacturing and production in several industries, coupled with advancements in plastic recycling technologies and eco-friendly plastic solutions.
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