Despite the lingering effects of the coronavirus pandemic, the global plastics market is projected to post an annual growth rate of at least 3% from 2021 to 2028, according to a report by Grand View Research (www.grandviewresearch.com). Increasing plastic consumption in the construction, automotive, and electrical & electronics industries is projected to support market growth over the forecast period, according to the report. However, packaging retains its position as the sector with the biggest revenue share of more than 35%.
Asia Pacific (including China) retains its dominant position in the global market with over 40% market share of the revenues. The region’s robust manufacturing sector continues to spike demand for plastics especially for use in such sectors as automotive, construction, packaging, and electrical and electronics industries.
The plastics industry is transitioning towards heightened awareness and commitment to achieve a circular economy and alleviate the climate change impact. In this scenario, the need for more innovative production technologies and environment-friendly materials will be a priority in the agenda of industry players. Along with digitalisation and increased automation, significant improvement in the production processes is anticipated.
The Outlook 2022 Special Report provides the insights of industry experts specifically chosen to share their views on the directions that the plastics industry will take in 2022 and the factors that will impact the industry. It also provides a glimpse of the products that will figure prominently in the market in 2022.
Plastics industry in new-now-next normal
MR. VEERA KWANLOETCHIT
President
Plastics Institute of Thailand
Tel: +66-391 5340-43
Website: http://www.itc.or.th;
www.thaiplastics.org
Bu hikaye International Plastics News for Asia dergisinin December 2021 sayısından alınmıştır.
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Bu hikaye International Plastics News for Asia dergisinin December 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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Industry innovations aimed towards a greener future
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Special extrusion lines for bioplastic compounds
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Spinning and recycling go together in a single step
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Advanced high-performance light stabilisers
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ArabPlast holds successful edition
The 15th Edition of ArabPlast was held on 15-18November 2021 at the Dubai World Trade Centre, Dubai, U.A.E. Spanning over 28 years, ArabPlast is an exclusive event for plastics, petrochemicals, packaging and rubber industry, and serves as an attractive platform where global industry players show off their products to the Middle East market.
Food-grade plastics recycling facility installed in India
The well-established Indian recycler commissioned a PET bottle-to-bottle and a post-consumer polyolefin recycling line from Starlinger in mid-September.
How to bring down downtime in manufacturing
For most of us, the word downtime conjures images of relaxation.
Optimistic forecast for blow moulded plastics market
Growing demand from key applications is a key factor in the projected growth of the blow moulding sector.
The benefits of dedicated system for mould development
When it comes to useful tools that can enhance teamwork efficiency, we usually think of the Product Lifecycle Management (PLM) systems.
