Plastics Industry Report 2020 Mid Year Update
Davidson Capital Advisors takes a dive into the plastics industry to uncover trends and market conditions driving growth in the space.
Polyether Ether Ketone (PET) volume is expected to grow 6.4% per year through forecast period (Jan. 2020 to Dec. 2027).PET is widely used in engineering applications dueto their colorless and organic characteristics.
❑ Industry Demand Drivers
◼ Automotive: Is the fastest growing application segment in the global arena during the forecast period. Auto makers continue to substitute plastic for metal parts driving increased demand.
◼ Recycling:As a result of the growing number of recycling plants and stringent regulations for recycling of plastic, recycling is anticipated to be the fastest growing service segment with 4.9% per year over the forecast period.
❑ Global Plastics Markets
◼ Global Waste Management: The waste management plastic marketsize is anticipated to reach USD 42.2 billion by 2027, expanding at a CAGR of 3.1%.
◼ Plastic Waste Management: In Asia Pacific, the plastic waste management market is anticipated to growof 3.4% per year over the forecast period due to rising GDP, growing population, and increasing disposable income in the developing economies such as India, China, and Japan.
◼ Global Industrial Plastic: The marketsize is anticipated to reachUSD 103.96 billionby 2027, registering a revenue-basedCAGR of 4.6%over the forecast period.
◼ Global Antimicrobial Plastic:The globalantimicrobial plastic marketsize is expectedto reachUSD 44.1 billionby 2027, expanding at a CAGR of8.2%.
