The plastics processing industry is prominent in every aspect of modern life. As new polymers and composite materials are introduced by the chemical industry
April 13, 2007 (Press Release) --
Plastics Processing - Market Report
The plastics processing industry is prominent in every aspect of modern life. As new polymers and composite materials are introduced by the chemical industry, so the industry is constantly refining and adding products to those that have been made over many decades. In its early years, the plastics industry greatly benefited from the substitution of plastic for other materials including various metals, wood, paper, glass, cardboard and natural fibres, etc. However, as a mature industry, the possibilities for substitution are limited, leading to greater dependence on economic growth and the expansion of demand in plastic's existing markets. The industry is also vulnerable to volatility in the global price of oil and gas feedstocks, used by the chemical industry to produce its raw and semi-finished materials.
Total apparent UK demand peaked in 2000 and then dropped to an estimated £10.41bn in 2002. This downward trend is expected to continue until there is significant global economic recovery which will stimulate domestic and world demand. The leading markets for plastics are in packaging, building and construction and the automotive/transport industries, all of which have generally been buoyant. However, a number of other industries which use some form of plastic, e.g. the textile, clothing, electrical, electronic, mechanical engineering and agricultural industries, have experienced a profound downturn in demand, as they struggle to adjust to changes in the market for their products and against a rising tide of imports
Plastics Processing - Market Report
The plastics processing industry is prominent in every aspect of modern life. As new polymers and composite materials are introduced by the chemical industry, so the industry is constantly refining and adding products to those that have been made over many decades. In its early years, the plastics industry greatly benefited from the substitution of plastic for other materials including various metals, wood, paper, glass, cardboard and natural fibres, etc. However, as a mature industry, the possibilities for substitution are limited, leading to greater dependence on economic growth and the expansion of demand in plastic's existing markets. The industry is also vulnerable to volatility in the global price of oil and gas feedstocks, used by the chemical industry to produce its raw and semi-finished materials.
Total apparent UK demand peaked in 2000 and then dropped to an estimated £10.41bn in 2002. This downward trend is expected to continue until there is significant global economic recovery which will stimulate domestic and world demand. The leading markets for plastics are in packaging, building and construction and the automotive/transport industries, all of which have generally been buoyant. However, a number of other industries which use some form of plastic, e.g. the textile, clothing, electrical, electronic, mechanical engineering and agricultural industries, have experienced a profound downturn in demand, as they struggle to adjust to changes in the market for their products and against a rising tide of imports
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