Plastic Stocks To Buy

Plastic Stocks To Buy

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In this article we will take a look at the 10 best plastics stocks to buy now. You can skip our detailed analysis of these companies, and go directly to the 5 Best Plastics Stocks to Buy Now.

Plastics have become a part of everyday life, whether we like it or not. While your average climate change activist will always be seen encouraging their friends and family to stop using those plastic bottles or stop buying products from that one company that uses plastics in everything it manufactures, no one can really do anything about it at this point. I don't want to come across as pessimistic but it's an incontrovertible truth at this point: plastics sell, and at good rates too. The only thing you and I, as responsible citizens, can reasonably do is try to reduce, reuse, and recycle as much plastic as we can. Sounds cliche, I know, but what better alternative do you have in mind

The adverse effects of the production, sale, and use of plastics notwithstanding, you can't deny that the industry itself is one of the most profitable in the world currently. In 2020, the global plastic market size was worth approximately $579.7 billion, and the value is expected to increase at a compound annual growth rate (CAGR) or 3.4% from 2021 to 2028.

You can't tell me you're surprised to hear that. Really, when you see what plastic can do, how it can be shaped to form anything from a cup to a toy castle, it becomes pretty evident that this one product would be highly popular and profitable in the world today. It's not even just insignificant products like cups and straws anymore. If you look at the rise in the need for PPE kits ever since the advent of the coronavirus pandemic, you'll see how the need for plastic as a product is ever-growing. Personal protective equipment, or PPE kits, have become a necessity for medical professionals and other frontline workers such as governmental officials. And what do you think these kits are made of, at the end of the day

Up till last year, Trinseo S.A. (NYSE: TSE), Berry Global (NYSE: BERY), AptarGroup, Inc. (NYSE: ATR), and Myers Industries, Inc. (NYSE: MYE) were some of the most successful plastics stocks investors had their eyes on. Trinseo S.A. (NYSE: TSE) showed some volatility in the previous years, going from $15 in 2014 to over $80 in 2018, and later plummeting again. Michelin (OTCMKTS: MGDDY) also saw some tough times last year but was expected to bounce back because of its financial performance trumping that of US stocks like The Goodyear Tire & Rubber Company (NASDAQ: GT).

Apart from Berry Global (NYSE: BERY), AptarGroup (NYSE: ATR) and Myers Industries (NYSE: MYE), Exxon Mobil Corporation (NYSE: XOM) is also a major company operating in the plastics and chemicals industry. Exxon Mobil Corporation (NYSE: XOM) upped its monthly production of specialized polypropylene by 1000 tons in April of last year. This increase was born out of a need for masks and medical gowns in the aftermath of COVID-19.

With a market value of $18.606 billion as of the start of 2021, Amcor plc (NYSE: AMCR) is a company providing packaging solutions to its customers. The company's headquarters are in Australia, and it is ranked 10th on the list of the best plastics stocks to buy now.

Amcor plc (NYSE: AMCR) has recently developed recyclable healthcare packaging, in line with its commitment to the climate action cause, and this breakthrough achievement has earned it a special reputation in the global plastics industry.

Like Berry Global (NYSE: BERY), AptarGroup (NYSE: ATR), Myers Industries (NYSE: MYE), Trinseo S.A. (NYSE: TSE) and Exxon Mobil Corporation (NYSE: XOM), Amcor plc (NYSE: AMCR) is one of the best plastics and chemicals stocks to buy now.

Ranked 9th on our list of the best plastics stocks to buy now is Nan Ya Plastics Corporation (TPE: 1303.TW). The company manufactures and markets plastic products, chemicals, and other materials. Nan Ya Plastics Corporation (TPE: 1303.TW) is also known to be a leading name in the manufacture of polyester fibers and copper-clad laminates for electronic materials.

A petrochemical company in the Kingdom of Saudi Arabia, SABIC Agri-Nutrients Company (2020.SR) is ranked 8th on our list of the best plastics stocks to buy now. Being one of the largest producers of chemicals worldwide, the company deserves a spot on this list. The company produces, converts, and manufactures fertilizers as well.

Ranked 7th on our list of the 10 best plastics stocks to buy now is Formosa Plastics Corporation (TPE: 1301.TW). With a market value of $21.852 billion in January 2021, the company is one of the biggest producers of plastic resins and industrial chemicals.

In 2020, Formosa Plastics Corporation (TPE: 1301.TW) had over 2900 employees operated over 20 production units. The company is based in Taiwan. Like Berry Global (NYSE: BERY), AptarGroup (NYSE: ATR), Myers Industries (NYSE: MYE), Trinseo S.A. (NYSE: TSE), Amcor plc (NYSE: AMCR) and Exxon Mobil Corporation (NYSE: XOM), Formosa Plastics is one of the best plastics and chemicals stocks to buy now.

With a market value of $52.2 billion in January of this year, DuPont de Nemours, Inc. (NYSE: DD) is ranked 6th on our list of the best plastics stocks to buy now. The company is based in the US. DuPont de Nemours, Inc. (NYSE: DD) is a chemicals company focusing on science and innovation to manufacture its products.

Like Berry Global (NYSE: BERY), AptarGroup (NYSE: ATR), Myers Industries (NYSE: MYE), Trinseo S.A. (NYSE: TSE), Amcor plc (NYSE: AMCR) and Exxon Mobil Corporation (NYSE: XOM), DuPont de Nemours, Inc. (NYSE: DD) is one of the best plastics and chemicals stocks to buy now.

According to a report published by Fortune Business Insights, the size of the plastics industry stood at $439.3 billion at the end of 2021 and grew by 4.2% in 2022 to $457.7 billion. The plastics industry is predicted to compound annually at an average rate of 5% to $$643.4 billion by 2029. The rapid pace of urbanization and industrialization in developing economies is expected to provide the industry with the growth impetus. Given its adaptability, low cost, and ease of production, plastic is rapidly replacing metals like aluminum and steel across numerous industries.

The US holds the greatest market share of the plastics industry in North America as of 2022, supported by rising consumer demand from the electrical, healthcare, and packaging sectors. The region has used recycled plastics more extensively as a result of concerns about pollution and the advancement of recyclable technologies. The plastics industry is seeing a major shift toward the production of sustainable products. This has brought into use the concepts of recycling, reusing, and upcycling plastic products into the limelight. The higher focus on lower greenhouse gas emissions has become an integral part of new product development and value addition.

Furthermore, the market for polymers is expected to expand significantly in Europe over the next decade as a result of the region's expanding demand from the automobile industry. The widespread use of polymers in the region is further aided by their numerous beneficial features, such as superior heat resistance and corrosion inhibition. Some of the best plastics stocks, such as Exxon Mobil Corporation (NYSE:XOM), Myers Industries, Inc. (NYSE:MYE), and Amcor plc (NYSE:AMCR), are developing technologies to keep in line with the emerging trends and capitalize on the increasing demand.

We have shortlisted these stocks following an analysis of the emerging trends in the plastics industry. These companies have growth plans in place to capitalize on the latest developments in the industry and expand their customer base. We have discussed the analyst ratings and financial outlook for further context. These plastics stocks offer long-term value to investors, given their strong positioning in the market. Insider Monkey's database of 895 hedge funds as of Q2 2022 has been utilized to rank these stocks.

Dow Inc. (NYSE:DOW) is considered to be one of the best plastics stocks due to its strong business fundamentals. The stock offers an annual forward dividend yield of 6.23%, along with a free cash flow (FCF) yield of 20% as of October 21. Furthermore, for the first half of the year, Dow Inc. (NYSE:DOW) recorded $3.06 billion in EBITDA in comparison to the average prediction of $2.85 billion. Analysts believe the stock is currently trading at a discount to its fair value.

LyondellBasell Industries N.V. (NYSE:LYB) is a Rotterdam, Netherlands-based corporation that has the distinction of being the biggest licensor of technologies for two basic raw materials, namely polypropylene and polyethylene, needed to make plastic goods.

On October 20, LyondellBasell Industries N.V. (NYSE:LYB) revealed that it had signed a memorandum of understanding (MoU) with Shakti Plastic Industries, the biggest recycler of plastic scrap in India. Under the terms of the MoU, both entities will form a joint venture to develop a completely automated mechanical recycling plant in the second most populous country in the world. The plant will recycle plastic waste consumed by nearly 12.5 million citizens annually. The new facility is expected to be operational by the end of 2024.

Westlake Corporation (NYSE:WLK) is a Houston, Texas-based global diversified industrial entity that is involved in the production of semi-finished thermoplastic products. The company produces more than 20 types of polymer and has 48 product variation that caters to the needs of numerous industries.

On October 11, Steve Byrne at Bank of America gave Westlake Corporation (NYSE:WLK) a target price of $120 and reiterated a Buy rating on the stock. The analyst noted that the valuation of the companies in the commodity chemical businesses like plastics is trading at a valuation that is close to the lows observed during the financial crisis of 2008. The analyst sees Westlake Corporation (NYSE:WLK) offering a potential upside of over 33% despite the US dollar gaining strength against major currencies of the world. 59ce067264

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