NEW YORK, Sept. 6, 2016 /PRNewswire/ --
Resins are organic compounds consisting of a non-crystalline or viscous liquid substance. Natural resins are typically fusible and flammable organic substances that are transparent or translucent and are yellowish to brown in color. Some examples of resins include frankincense, myrrh and benzoin.
Plastic is a material consisting of any of a wide range of synthetic or semi-synthetic organics that are malleable and can be molded into solid objects of diverse shapes. Due to their relatively low cost, ease of manufacture, versatility, and rigidity to water, plastics are used in an enormous and expanding range of products, from paper clips to spaceships. Some examples of plastic materials include polyethylene terephthalate and polyvinyl chlorides.
Synthetic Dye and Pigment was one of the smaller segments in the chemicals market in 2015 with revenues of $69bn and 1.4% market share.
Asia was the largest geographic market in the plastic materials and resins market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because its growing middle classes are still first-time buyers of products already in the household inventories of the developed economies. The Americas was the second largest geographic market, accounting for $XX billion or XX% of the global market. Europe was the third largest geographic market, accounting for $XX billion or XX% of the global market.
The per capita consumption of plastic materials and resins was the highest in Germany in 2015, accounting for $XX in 2011 and $XX in 2015 and expected to grow to $XX in 2019. It grew at CAGR of XX% from 2011-15 and is expected to grow at a CAGR of XX% from 2015 to 2019. This was due to high consumption of plastic materials and resins products in Germany's automotive and manufacturing industries.
The intense search for new characteristics for plastic materials and innovations in the manufacturing process have led to the development of various high-performance plastics. For example, Smart polymers is a material that can manipulate its dimensions based on the changes in the environment. Nanocomposites are a product that is a result of a combination of nanotechnology and plastics engineering. These products have high electrical conductivity, dimensional stability, and are also flame retardant along with resistance to scratch, dent and heat. These new high-performance plastics have gained rapid acceptance and find their applications in the medical, electronics, food packaging, automotive and aerospace sectors.
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