The global plastic market is among the largest in the world, with a valuation of about USD 624.8 billion. With such a rich, ever-growing market, understanding industrial plastic is a constant job.
Since industrial plastic as a field is always changing, there’s always more to learn. How can you keep tabs on such a vast field?
The best way is with focused question sections. We’ve compiled a list of the questions we most often receive and provided you with answers. Read on for some quick information on plastics manufacturing.
Where Does the Industrial Plastic Industry Focus?
Geographically, the focus is mostly on the Asian-Pacific. Here, the region accounts for more than 50% of the global demand.
As far as consumption goes, China is the leading consumer. India, Japan, and South Korea follow them. America and Europe also make up a decent chunk of the plastic-consuming market.
There are few places globally that aren’t parts of the industrial plastic industry. Plastic components find themselves in nearly every market.
Is Sustainability Important to the Industry?
In the plastics industry, sustainability focuses on minimizing the negative impact of plastic production on the environment. Plastic manufacturing involves chemicals, heavy manufacturing output, and other sources of pollution.
Another source of plastic pollution is microplastics in the ocean. Microplastics have been found in places as remote as the Mariana Trench. As such, the plastics industry has begun focusing on lessening this negative impact.
Many companies are focusing on a more holistic approach. Encouraging recycling and the use of renewable materials are key factors.
Many companies are also working to minimize energy and water usage, as well as reduce waste. Furthermore, there’s been a further focus on worker health and safety to help encourage these policies.
Has the Industry Implemented Smart Production?
Smart technology has found its way into the industry in several ways. One of the greatest is with In-Mold Electronics (IME) technology. IME is useful for creating touch screens and other smart surfaces by molding electronics into plastics.
Another way is through Industry 4.0 Integration. Smart manufacturing as a whole works through real-time monitoring, quality control, and other ways to enhance both production and safety.
How Will the Industry Grow?
For many countries – particularly in Central and North America – most plastics are consumed through the automotive industry. The rise in construction has also helped to increase plastic consumption.
Due to this, these areas are seeing a growth in plastics plants and manufacturing. You should keep your eye on automotive and construction trends to see how these will affect the plastics industry. There are plenty of other players on the field, but these are the ones most notable.
Finding the Growing Trends
The industrial plastic growth trends are focused on the automotive and construction industries. Asia-Pacific, Asia, Europe, and the Americas are the primary consumers of plastic at the moment.
At Nova, we’re a world-class producer of plastic molded components for clients in several industries. We’re proud to present a hands-on approach that ensures communication and client satisfaction. Contact us today to see how we can offer you our full service.
