The Latest Plastics Industry Statistics Explained
The global plastics market size valued at USD 568.9 billion in 2019.
The statistic ‘The global plastics market size valued at USD 568.9 billion in 2019’ represents the total monetary value of the worldwide plastics industry during that year. It indicates the significant economic scale and importance of the plastics sector across various industries such as packaging, automotive, construction, electronics, and healthcare. This figure reflects the extensive production and consumption of plastics on a global scale, highlighting its ubiquity in modern society and the substantial financial impact it has on the economy. Tracking the market size over time can provide insights into trends, growth patterns, and the overall health of the plastics industry on a global level.
As of 2021, China is the leading plastic producer, manufacturing 31% of the world’s plastic.
The statistic indicates that as of 2021, China holds the title of being the top plastic producer globally, responsible for manufacturing approximately 31% of the world’s total plastic production. This significant contribution demonstrates China’s impactful role in the plastic industry, showcasing its manufacturing capabilities and market dominance in meeting the global demand for plastic products. The statistic highlights China’s influence on the plastic market and underscores the country’s position as a key player in the global plastics industry, with implications for environmental concerns related to plastic waste and pollution.
Packaging is the largest end-use market segment accounting for just over 40% of total plastic usage.
This statistic indicates that packaging is the most significant sector utilizing plastic materials, constituting slightly more than 40% of the overall plastic consumption. This highlights the substantial reliance on plastic in the packaging industry for various products across different sectors such as food and beverages, personal care products, and consumer goods. The substantial share of plastic usage in packaging underscores the importance of sustainable practices and innovations within this sector to address environmental concerns related to plastic waste and pollution. Efforts to reduce plastic consumption, improve recycling and waste management systems, and promote biodegradable alternatives in the packaging industry are crucial to mitigate the environmental impact of plastic usage in this dominant market segment.
In 2020, plastic production in the US reached 123.2 billion pounds.
The statistic “In 2020, plastic production in the US reached 123.2 billion pounds” indicates the total weight of plastic materials manufactured within the United States during the calendar year 2020. This statistic illustrates the significant scale of plastic production in the country and underscores the massive quantity of plastic being generated. It suggests a high level of demand for plastic products and highlights the potential environmental impact of such large-scale production, pointing towards issues related to plastic waste management, recycling, and sustainability. This statistic can be valuable for policymakers, environmental activists, and industry stakeholders in understanding and addressing the challenges associated with plastic production and its implications on the environment and society.
The plastics industry accounts for approximately 4% of total manufacturing shipments in the US.
This statistic indicates that the plastics industry plays a significant role within the manufacturing sector in the United States, representing approximately 4% of total manufacturing shipments. This highlights the substantial economic importance of the plastics industry within the overall manufacturing landscape of the country. The statistic suggests that the production and distribution of plastic products contributes significantly to the overall output of the manufacturing sector in the US, underscoring its influence on the economy and job market. Understanding the relative size and impact of the plastics industry within the broader manufacturing sector can provide valuable insights into the sector’s overall performance and trends.
Around 1.5 million jobs are supported by the US plastics industry as of 2020.
The statistic stating that around 1.5 million jobs are supported by the US plastics industry as of 2020 highlights the significant economic impact and workforce contribution of the industry in the United States. This figure represents the number of direct and indirect jobs created by activities related to the production, processing, and distribution of plastic materials and products. The extensive employment opportunities within the plastics industry play a crucial role in driving economic growth, enhancing industrial development, and sustaining livelihoods across various sectors and communities in the country. This statistic underscores the importance of the plastics industry as a significant contributor to job creation and economic prosperity in the United States.
The plastic industry in India is expected to grow at a rate of 12.5% annually from 2020 to 2025.
The statistic suggests that the plastic industry in India is projected to experience significant growth with an annual growth rate of 12.5% between the years 2020 and 2025. This indicates a positive trend in the industry’s expansion and development over the specified timeframe. Factors contributing to this growth could include increasing demand for plastic products, advancements in technology and production processes, as well as potential government initiatives supporting the industry. This forecast provides valuable insight for stakeholders, investors, policymakers, and businesses operating within the plastic industry in India, enabling them to make informed decisions and strategies to capitalize on the growth opportunities in the coming years.
In 2019, over 368 million metric tons of plastics were produced worldwide.
This statistic indicates that a staggering amount of plastics were manufactured on a global scale in the year 2019, amounting to over 368 million metric tons. This implies a significant level of plastic production, which can have far-reaching environmental implications due to the associated waste generation and potential pollution. The statistic underscores the pervasive use of plastics in various industries and consumer products, highlighting the need for sustainable practices in plastic production, use, and disposal. Moreover, this figure serves as a reminder of the importance of promoting recycling, reducing plastic consumption, and developing innovative solutions to mitigate the environmental impact of plastic production and waste.
Europe hosted the second-largest share of the global plastic additives market in 2019.
The statistic indicates that Europe held the second-largest portion of the worldwide plastic additives market in 2019, after a specific region that secured the highest share. Plastic additives are substances added to plastic materials during processing to enhance specific properties or improve performance, such as flexibility, durability, or color. Europe’s significant share in the market suggests a high consumption and demand for plastic additives in the region, possibly driven by its strong manufacturing sector, stringent regulatory standards, or innovative technological advancements in plastic production. This statistic highlights Europe’s role as a key player in the global plastic additives industry and signifies its importance in shaping market trends and developments.
By 2027, the plastic packaging industry is predicted to reach USD 486.2 billion.
The statistic that the plastic packaging industry is predicted to reach USD 486.2 billion by 2027 indicates a significant growth trajectory in the market. This prediction suggests an increasing demand for plastic packaging solutions over the upcoming years, likely driven by factors such as population growth, urbanization, and expansion of e-commerce activities. The anticipated rise in the industry’s value also reflects the necessity for sustainable packaging practices and innovative solutions to address environmental concerns associated with plastic waste. As such, businesses operating within the plastic packaging sector may need to adapt to evolving consumer preferences towards eco-friendly packaging materials and practices to remain competitive in the market.
The UK plastics industry contributes almost £26.5 billion to the UK economy.
The statistic “The UK plastics industry contributes almost £26.5 billion to the UK economy” indicates the significant economic impact of the plastics sector within the United Kingdom. This value represents the total monetary value generated by the production, consumption, and distribution of plastics within the country. The contribution includes revenue from the manufacture of plastic products, recycling activities, and related services provided by the industry. This figure highlights the importance of the plastics sector as a key player in the UK economy, creating employment opportunities, driving innovation, and supporting various downstream industries. The statistic underscores the sector’s substantial role in economic growth and underscores the necessity of continued monitoring and support for its sustainable development.
The plastic waste management market size is projected to grow from USD 32.6 billion in 2019 to USD 37.9 billion by 2024.
The statistic provided indicates the projected growth of the plastic waste management market from USD 32.6 billion in 2019 to USD 37.9 billion by 2024. This implies an expected increase in the market size over the specified time period, reflecting a growing emphasis on addressing plastic waste concerns globally. The increase in market size signifies a corresponding rise in demand for plastic waste management services and solutions, driven by factors such as increased awareness of environmental issues, regulatory pressures, and initiatives to promote sustainable practices. This projected growth highlights the expanding opportunities within the plastic waste management industry and the potential for continued investment and innovation in sustainable waste management practices.
The global bioplastics market is set to grow to 2.1 million tons by 2023.
The statistic indicates that the global bioplastics market is forecasted to expand significantly, reaching a total volume of 2.1 million tons by the year 2023. This growth projection suggests a rising demand for bioplastics, which are derived from renewable resources such as corn starch or sugarcane, and are considered more environmentally friendly alternatives to traditional petroleum-based plastics. The increasing awareness and focus on sustainability, coupled with regulatory initiatives to reduce plastic waste and carbon footprint, are driving the adoption of bioplastics across various industries. The anticipated growth in the market size signifies a positive trend towards more sustainable and eco-friendly packaging and products in the coming years.
In 2019, plastic components for building and construction represented over 20% of European plastic demand.
The statistic indicates that in 2019, plastic components used in the building and construction industry accounted for more than 20% of the total plastic demand in Europe. This suggests that a significant portion of the plastics manufactured in Europe during that year were specifically allocated for the construction sector. The dependency on plastic materials for building and construction purposes highlights the importance and widespread use of plastics in this industry, with applications ranging from pipes and fittings to insulation and flooring materials. Understanding this statistic sheds light on the substantial role plastics play in the European construction sector and underscores the need for sustainable practices and innovations to address the environmental impact of plastic usage in construction.
The US recycled over 3.01 billion pounds of post-consumer plastic film in 2018.
The statistic that the US recycled over 3.01 billion pounds of post-consumer plastic film in 2018 represents a significant and positive environmental achievement. Recycling plastic film is crucial for reducing waste in landfills and minimizing the environmental impact of plastic pollution. By recycling such a large quantity of plastic film, the US has demonstrated a commitment to sustainability and resource conservation. This statistic highlights the importance of continuing efforts to increase recycling rates and promote a circular economy that values the reuse and recycling of materials to reduce our environmental footprint.
In the EU around 30% of the total plastic post-consumer waste is recycled as of 2018.
The statistic “In the EU around 30% of the total plastic post-consumer waste is recycled as of 2018” suggests that approximately one-third of the plastic waste generated by consumers in the European Union is being recycled. This figure indicates a significant effort towards sustainable waste management and environmental conservation within the region. Recycling plastic waste is essential for reducing the environmental impact of plastic pollution, as it helps minimize the amount of plastic ending up in landfills or polluting the environment. However, there is still room for improvement to increase the recycling rate further and promote a more circular economy approach to plastic waste management in order to address the ongoing global plastic pollution crisis.
The plastic resin market is expected to reach USD 885.1 billion by 2022.
The statistic that the plastic resin market is expected to reach USD 885.1 billion by 2022 indicates the projected size and value of the market for plastic resins in the year 2022. This statistic suggests a significant anticipated growth in the industry, reflecting various factors such as increasing demand for plastic products across different sectors like packaging, construction, automotive, and healthcare. The forecasted market size serves as a crucial indicator for investors, businesses, and policymakers to understand the market trends, potential opportunities, and challenges in the plastic resin industry for strategic decision-making and planning in the upcoming year.
PET (polyethylene terephthalate) was the most commonly produced plastic worldwide with a volume of 37.9 million metric tons in 2020.
The statistic indicates that polyethylene terephthalate (PET) was the most widely produced type of plastic globally in 2020, with a total volume of 37.9 million metric tons. This suggests that PET, which is commonly used in the production of various consumer goods such as bottles, food packaging, and textiles, is in high demand due to its versatile properties and affordability. The high production volume of PET reflects its prevalence in various industries and the significant role it plays in meeting consumer needs and preferences. Additionally, the statistic highlights the substantial environmental impact of PET production and consumption, emphasizing the importance of sustainable practices and recycling initiatives to mitigate plastic pollution and reduce environmental harm.
In 2017, global plastic waste was an estimated 242 million tons, compared to 35 million tons in 1990.
The statistic indicates a significant increase in global plastic waste over the course of 27 years from 1990 to 2017. The data shows that the amount of plastic waste generated worldwide rose drastically from 35 million tons in 1990 to an estimated 242 million tons in 2017. This substantial growth in plastic waste production is concerning as it poses serious environmental challenges, including plastic pollution in oceans, harm to wildlife, and contribution to greenhouse gas emissions. The statistic highlights the urgent need for effective waste management strategies, recycling initiatives, and global cooperation to address the escalating issue of plastic waste generation and its adverse impacts on the planet.
Conclusion
The plastics industry statistics paint a complex picture of the current landscape, highlighting both opportunities and challenges ahead. As the demand for plastics continues to rise worldwide, it is crucial for companies to prioritize sustainability and innovation to ensure a more sustainable future for generations to come. By leveraging these statistics and trends, businesses can make informed decisions to drive growth and make a positive impact on the environment.
References
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5. – https://www.www.statista.com
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8. – https://www.www.bpf.co.uk
9. – https://www.www.european-bioplastics.org
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