Global Plastics Consumption to Reach 297.5 Million Tons by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global outlook on the Plastics Industry. Recovering economic conditions and resurgence across most end-use markets is driving the demand for various types of plastics and plastic materials. 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. The market is 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.

Plastics: A Global Outlook

Follow us on LinkedIn – Plastics represent one of the ubiquitous raw materials that finds use in a wide gamut of industries ranging from construction, automotives, industrial manufacturing equipment, to mechanical engineering. Given its omnipresent use, recession eroded the market’s health, especially during the years 2008 and 2009. The complete meltdown of the real estate, housing and construction industry, crumbling consumer confidence, rising unemployment levels, and reduced household wealth, among others, adversely affected the demand for plastics.

Automobile industry, among the most important end-users of high-end engineered plastics, was one of the worst hit sectors with automobile production and sales nose-diving, thereby leading to declines across all upstream raw material markets including engineering plastics. Similar conditions prevailed in electrical & electronics and consumer appliances sectors. Following its toughest years in recent memory, the plastics market is steadily gathering pace, driven largely by the recovery in most end-use markets, especially the automotive industry. Increasing use of plastics in varied fields including building & infrastructure, transport, automotive field, rail, defense & aerospace, healthcare, telecommunication, electrical & electronics and furniture is expected to fuel demand for plastic materials globally.

The global plastics industry is witnessing the continuous shift of production bases to low-cost Asian countries. This coupled with increasing foreign investments, and rise in the number of new manufacturing establishments are presenting Asia-Pacific as a prime driver of growth in the plastics industry. In particular, China and India offer enormous potential due to expanding automobile demand, resurgence in growth fundamentals across all end-use markets, such as rebuilding of consumer/business confidence, increasing income levels, rebound in general production, and rise in capital investments in all end-use sectors. Besides growing demand from the automobile, mining, chemical, construction and agricultural industries, the Asia-Pacific plastics market is propelled by trends such as globalization, demand for durable products and urbanization. Demand for polypropylene (PP) and polyethylene (PE) in Asia is registering rapid growth fueled by rampant industrialization and expanding automotive industry.

Packaging 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. Advancements in packaging material science and mounting demand for product protection and stability are further driving demand for plastic packaging. Bioplastic demand is on the rise and is expected to grow, owing to novel applications in the packaging industry, primarily for food and beverages. Emerging nations with underdeveloped or no recycling facilities are expected to benefit considerably from bioplastics products and packaging.

The research report titled “Plastics: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global industry, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include United States, Canada, Japan, France, Germany, UK, Russia, China, and India, among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Plastics_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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