Global Demand for Plastics Will Soar Over the Long Term
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While the Coronavirus lessened demand for many types of industrial products, global activity in the energy efficiency, construction, automotive, health care and housing markets will give a boost to the plastics segment over the very long term. Global plastics production topped 468 million tons per year in 2019, according to Plunkett Research estimates. While currently slow economies in much of the world will dampen demand for plastics, the long-term outlook for this market is very positive.
Packaging remains the largest use for plastics by far, closely followed by building materials/products and automotive. The regions with the largest plastics production include China, the EU and North America. Within the EU, approximately 1.5 million people work in the plastics industry. The biggest boon to the plastics market is the booming production from shale oil discoveries along the Gulf Coast in the U.S.
For everything you need to know about the global Chemicals, Coatings & Plastics Industry sector, see:
Plunkett’s Chemicals, Coatings & Plastics Industry Almanac 2021
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Publication Date: July 2020 | Price: $379.99
Printed ISBN: 978-1-62831-577-6
eBook ISBN: 978-1-62831-884-5
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