A Comprehensive Global Paper, Plastics, Rubber, Wood, And Textile Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast
LONDON, Aug. 25, 2023 /PRNewswire/ -- The Global Market Model's projection for the paper, plastics, rubber, wood, and textile market remains predominantly steady compared to the previous estimate until the close of 2022. Factors such as elevated inflation, economic challenges, the ramifications of the Russia-Ukraine conflict, and escalated prices of raw materials due to disturbances in the supply chain, all of which culminated in short-term hikes in end-product prices, were already taken into account during our preceding update. We also anticipated a stabilization of prices over the long term, as supply chain pressures ease. As a result, our prognostications for this market have retained their stability throughout this update cycle.
The ensuing are pivotal insights gleaned from the Global Market Model's forecast for the paper, plastics, rubber, wood, and textile industry:
- The market is poised to achieve a compound annual growth rate (CAGR) of 7% between 2022 and 2032.
- Key factors such as the rapid proliferation of e-commerce, an upswing in retail presence in developing economies, technological advancements, and governmental initiatives are expected to propel the market during the anticipated period.
- The global valuation of the paper, plastics, rubber, wood, and textile market stood at $6616.2 billion in 2022.
- This market constituted 6.6% of the worldwide gross domestic product (GDP).
- Among the segments, the plastics and rubber products sector held the foremost position in the paper, plastics, rubber, wood, and textile market, accounting for 20.5% of the overall share in 2022.
- The United States held a premier position in the paper, plastics, rubber, wood, and textile market, comprising 18.9% of the total market share in 2022.
Gain more insights into the paper, plastics, rubber, wood, and textile industry trends with a free consultation:
The Global Market Model also offers insights on the following key industry indicators for the paper, plastics, rubber, wood and textile industry -
- Number of enterprises
- Number of employees
The Global Market Model provides accurate global paper, plastics, rubber, wood and textile industry outlook. Get in touch with us - https://www.thebusinessresearchcompany.com/global-market-model/demo-request
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