Plastics Market 2017 and 2016
…well some of it…
Welcome 2017! Here are some statistics about the plastics market from 2016 going into 2017. KMA SA Marketing is very excited for the plastics market in 2017 as we take hold of new opportunities and grow.
According to BCC Research the global market for thermoplastic compounds should increase at a compounded annual rate of 4,7% starting from last year (2016) until 2021 with the global market for rigid and transparent plastics growing at a compounded rate of 5,3% until 2021.
Bearing this in mind KMA SA Marketing will be using 2017 to expand and grow our target market into countries we have not supplied before. With our innovative TPR compounds we hope to be able to increase production to supply our faithful customers with more material and supply new customers.
In other news bioplastics are forecasted to increase at a compounded rate of 19.2% from this year, 2017, until 2025 due to the adoption of bioplastics in rigid packaging applications, growing environmental awareness and biodegradability.
However, even though the global market seems to be on the ‘up-and-up’ manufacturing output in South Africa in 2016 decreased by 2,7 percent (year on year comparison) and on a monthly basis manufacturing declined by 1,8%. Even though the plastics industry has stayed on par with the GDP growth, it is still below the 3% average plastics growth worldwide. However, there is a light at the end of the tunnel, as there has been a growth of 6,4& in virgin material consumption per annum as well as a 3% for recycled plastics.
KMA SA Marketing commits itself to bring its customers around the world top quality products at competitive prices. We wish all a prosperous new year!