[ Jiuzhi Plastics News] According to relevant data, the global plastic products market has an annual growth rate of about 3%. In 2016, it will be worth $1.06 trillion and will grow to $1.175 trillion by 2020. The largest proportion is the production of plastic packaging materials and unlaminated films and sheets, accounting for about 20% of the total.
The United States and China are both markets for plastics manufacturers, and China is likely to be in the lead in the future, as the Chinese market grows at an annual rate of 3%, compared to 1.6% in the US. Compared with China and the United States, the market size of India and Brazil is small, but it is growing at an annual rate of more than 8%. It is the fastest growing large economy.
The global plastics product market is highly fragmented, with the top five competitors accounting for only 3.2% of the total in 2016. However, an integrated process is underway. Recently, M&A activity has been at a very high level.
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