Global Plastics Industry Essay Sample

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Plastics represent one of the most important raw materials that are extremely common in wide range of industrial productions as well as our daily life usages. The global plastics industry [1] has seen a steady growth since 2007 as recovering economic conditions and resurgence across most end-use markets is driving the demand for various types of plastics and plastic materials. Nowadays Asia-Pacific is emerging as a prime growth driver for the plastics industry, with China and India expected to foster growth in the medium to long-term period. In worldwide, the total plastics consumption [1] will have an average growth rate of 5% – 6%, and to reach 297.5 million tonnes by 2015. Asia has been world’s largest plastics consumer for several years, accounting for about 30% of the global consumption excluding Japan, which has share of about 6.5%. Next to Asia is North America with 26% share, then Western Europe with 23% share in the global market. As the Plastics – the Facts 2011 reports, from 2009 to 2010 the global plastic production [1] of plastics increased by 15 million tonnes or 6% to 265 million tonnes, confirming the long term trend of plastics production growth of almost 5% per year over the past 20 years. In 2010 Europe accounted for 57 million tonnes (21.5%) of the global production and China overtook Europe as the biggest production regional at 23.5%.

Plastic packaging [1] sector is one of the major consumers of plastics. Apart from being used as a substitute for traditional materials, plastic packaging is being increasingly used in healthcare and personal care products, and packaged foods and beverages markets. The global plastic packaging industry had a CAGR of 7.2% between 2001 and 2010.

Over the recent years, significant aspect of plastics material [1] growth globally has been the innovation of newer application areas for plastics such as increasing plastics applications in many other industries, such as automotive, defence & aerospace, electrical & electronics, telecommunication, building & infrastructure, etc. While the global plastics market is also significantly influenced by the development of new age plastics, emergence of new applications, and the focus on green chemistry due to legislative and environmental requirements. For more information about companies, associations and events on this industry, please visit Plastics Industry [1] portal on BusinessVibes [2], and join us for free. Blog parent sections: Electronics [3] Engineering [4] World [5] published by madisonadmin on Sat, 05/26/2012 – 00:04

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