Plastic Industry Report

FormatReport TypeCategoryReport OnRegionPublishedPrice
ExcelDirectory - DistributorsMaterials & CompoundsGlobal Database Of Plastic Raw Material DistributorsGlobalMarch'16$400
ExcelDirectory - DistributorsMaterials & CompoundsAsia Database Of Plastic Raw Material DistributorsAsiaMarch'16$150

Plastic Granule

Plastic Industry

The plastic industry comprises of the manufacture of resins, plastics product, plastics processing machinery and plastics molds. Plastics being versatile product has vast use in our daily life.We use plastics primarily in the form of food packaging, storage containers & spill proof bottles. It is also widely used in industrial application, construction, medical and other purposes.

Global consumption of plastics in 2014 was approximately 26 kg. Plastics and its products are important manufacturing activity and have a vital role in every countries economy. In the United States, the plastics industry is third largest manufacturing activity and contribute significantly to the economy.

Industry Segmentation

Market segmentation of molded plastics is done by product, by its application and by geography.

By Product:

Molded  plastics product are segmented by raw material used in making the product such as molded polyvinyl chloride, molded polyethylene, molded polystyrene, molded polypropylene and others. The largest share of this segment is occupied by molded polyethylene because of its vast application.It is also the largest revenue generating in the segment and primarily in high demand in the automobile industry for car bodies, electrical insulation, dashboard etc. It has excellent properties making is suitable for application such as high impact resistance, good toughness, and low density.

By Application:

Plastic Packaging: Packaging is the largest end consumption segment for plastics.  The main product is food packaging, alcoholic, soft drink and grocery retail. They are made up of HDPE, LDPE, PET, PP & PVC.

Automotive: Use of plastics product in the automotive industry is widespread. The main plastic products in the automotive industry are bumpers, dashboard, fuel system, seating, under-bonnet components, exterior & interior trim, upholstery etc. They are made from ABS, PP, PVC, HDPE, PET, PUR etc. The major share of plastic component in the automobile industry is made from polypropylene followed by polyurethanes.

Electronics & Electrical: The main plastic parts of the electronic & electric industry are an electronic component, electronic data processing, office & consumer equipment. The main plastic product production base in an electronic and electrical industry is low-cost country primarily Asia-Pacific.

Construction: Plastic in construction are  used for infrastructure, residential & non-residential purpose. Now plastics such as PP, PS, PE, PVC etc. are used in construction industry. The most used plastics in the construction industry is PVC on account of which it occupies more than half of the share.

Medical Device: The growing population and needs for more medical care products have increased the demand for plastics in the medical field. The commodity plastics which is used the most is PVC followed by PS, PP & PE.

Market Drivers & Trends

Plastics consumption are expected to increase in coming years. The important factors driving the industry by end segment are:

Plastic Packaging: The growth driver for plastics industry is plastics used for food packaging. The use of plastics in packaging is because of convenience and on the go lifestyle. Going down the line the trend of product greenness and recyclability would be important to consumer and governments.

Automotive: Plastics products are used on large scale in the automotive industry. As pressure on the manufacturer to go in for  weight reduction in a vehicle because of demand for fuel efficiency, increasing performance and reduction in carbon emission makes them look. Plastic components are best fit as they can replace metal components as they are lighter in weight. This has led to the innovation of using more plastics in the best way for the automotive sector.

Electronics &  Electrical:  The growing demand for an electronic product such as a smartphone, computer, tablets etc. has increased the plastics demand. Further, the pressure to comply with energy saving and the environmental friendly requirement has led to use of plastics in an efficient way.

Construction: The demand for plastic parts in the construction industry is because of the requirement of easy to install, light weight, corrosion free, low energy in processing and environmentally friendly product.

Medical Device: In medical field the demand for flexible products, component miniaturization, and weight reduction has given thrust to the use of plastics.

Aviation Sector: Fuel saving has been the most important factor in make or break of the industry which can be achieved by weight reduction of aircraft industry but maintaining the same capacity. This along with the requirement of flexibility in design, corrosion resistant, impact resistance has propelled the demand for plastics. Plastics has the edge than metal counterparts for all the above properties.

Bioplastics: Bioplastics are the fastest growing segment in plastics. The growing demand for environmentally friendly products has led to more innovation in plastics. To meet this requirement bioplastics are best fit to fill the gap. This has led to increasing trend of using bioplastic where more environmentally friendly products are required.

Challenges

The demand for renewable & environmentally friendly products is the demand of the day. This along with governmental policy and regulation are putting pressure on manufacturer to come up with products which meet these requirement. This has led to more investment in research & development  and innovation to come up products which can meet the expectation of the consumer, government and is viable for manufacturer’s.