Global plastic consumption is expected to exceed 500 million tons in 2016
Time of issue:
2022-02-15
Axis Research Mind recently released a report stating that global plastic consumption in 2016 is expected to exceed 500 million tons due to strong demand for sheet materials (hard/soft plastics), resins (thermoplastic/thermosetting plastics), and end products such as food packaging, beverage packaging, building materials plastics, and medical plastics.
Axis Research Mind recently released a report stating that global plastic consumption in 2016 is expected to exceed 500 million tons due to strong demand for sheet materials (hard/soft plastics), resins (thermoplastic/thermosetting plastics), and end products such as food packaging, beverage packaging, building materials plastics, and medical plastics.
Thanks to the rapid rise and development of emerging countries, the global demand for hard plastics market is expected to reach 284 million tons in 2016. Overall, PP and PE will become powerful driving forces for the plastic industry to continue moving forward. In the next three years, its market demand rate will account for 46% of the total demand.
The analysis report points out that the market outlook for global plastic industry consumption is promising. In terms of demand, Europe will become the fastest-growing market for plastic demand worldwide from 2013 to 2016.
In terms of the terminal application field of plastic products, electronic consumer goods are expected to become the fastest-growing market for plastic demand. In the next few years, the compound annual growth rate of its demand will reach 9%. In addition, the application prospects of plastics in daily necessities, automobiles, household appliances, healthcare and other fields are also very promising.
Axis Research Mind stated that the successive growth of markets such as hard/soft packaging, resins, sheets, and end product applications is conducive to further boosting plastic demand and promoting the healthy development of the global plastic industry. There are numerous investment opportunities and enormous development potential in the plastic industry. In recent years, plastic packaging has become one of the popular investment industries.
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