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The Global Demand For Modified Plastics
Jun 29, 2018

In 2019, the global demand for modified plastics will reach 170 million tons, and China's demand will rise steadily!

  

China's plastic products industry also showed a sustained and steady growth.


In 2015, the output of plastic products in China was 75.607 million tons, a cumulative increase of 1.0%;


In 2016, the output of China's plastic products was 77.172 million tons, a cumulative increase of 2.7%;


From January to July 2017, the income from the business operations of owners of rubber and plastic products in China's industrial enterprises above designated size was 1,941.77 billion yuan, a year-on-year increase of 9.7% and a profit of 112.14 billion yuan, a year-on-year increase of 4.8%;


From January to July 2017, the output of primary plastics in China was 49.95 million tons, a cumulative increase of 4.2%.


With the gradual transformation and upgrading of industrial structure, the proportion of high-end products has gradually increased, and the basic supporting service functions have been continuously improved. Although the growth of plastic products production has slowed but its value space is still large, the output value can maintain a relatively high growth rate and meet the generality of society. The basic application areas of demand have maintained steady growth while gradually strengthening the high-end applications. Plastics processing industry is still in the stage of rising development, and transformation and upgrading are progressing steadily.


Compared with foreign markets, the development of domestic modified plastics industry is relatively late. Before the 1990s, China's modified plastics basically need to be imported from abroad.


Market statistics show that in 2012, the global demand for modified plastics was 125 million tons. It is expected that this figure will increase to 170 million tons in 2019. From 2013 to 2019, the compound annual growth rate of global demand for modified plastics will reach 4.7%. It is predicted that the demand for modified plastics in the Asia-Pacific region will be further expanded in the next few years, and the demand for modified plastics will increase to 65 million tons in 2019.


In recent years, thanks to the country's great emphasis on the new materials industry and its intensive efforts, China's modified plastics market has ushered in a period of vigorous development. The output of modified plastics has increased from 5.7 million tons in 2009 to 10 million tons in 2016. The sex rate has also increased from 8% in 2004 to 19% in 2016. Modified plastics have achieved a wider range of applications and the annual compound growth rate exceeds 23%.


The development trend of “plastic substitute steel” and “plastic substitute wood” has provided a broad market space for the development of the plastics industry. High-performance and new functionalized modified plastics are gradually replacing ordinary plastics and other materials and are widely used in Christmas. In the fields of lighting, electronic appliances, wire and cable, and automobiles, thanks to the rapid development of many downstream industries and the continuous increase in the demand for emerging materials, the increase in demand for modified plastics has remained at a relatively high level in recent years.


China is a major producer and consumer of synthetic resin. In 2015, China's total output of synthetic resin reached 76.91 million tons, an increase of 10.65% year-on-year, and apparent consumption reached 103.802 million tons, an increase of 7.55% compared with the previous year's 91,651.4 million tons.


As a major raw material for modified plastics, the overall production capacity of China's synthetic resins has been steadily increasing. The consumer market is huge. Continuous improvement in the supply of upstream raw materials has created conditions for the continued development of the modified plastics industry.