The plastic industry is one of the most important industries in the world. It is responsible for the production of a wide variety of products, from packaging to medical equipment. But how much do we really know about the plastic industry?
In this article, we will explore the latest plastic industry statistics, from production to consumption and more. We will also discuss the environmental impact of the plastic industry and what can be done to reduce it. So, if you’re interested in learning more about the plastic industry, read on.
Plastic Industry: Most Important Statistics
The global plastic products market is expected to grow from $888.99 billion in 2021 to $1,427.59 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
The plastics industry is the 8th largest industry in the US, employing 1.5 million people and generating $394.7 billion in shipments in 2020.
Plastic Industry: Statistics Overview
The global plastic market is projected to grow from $457.73 billion in 2022 to $643.37 billion by 2029, at a CAGR of 5.0%.
The plastic industry is growing rapidly and is expected to continue to do so in the coming years. This growth can be attributed to the increasing demand for packaging materials from the food & beverage industry, as well as other industries such as consumer goods, automotive, and electrical and electronics.
This growth is beneficial to the plastic industry as it indicates a strong demand for their products.
The plastic industry has grown significantly since the 1950s, with over 9 billion metric tons of plastic materials produced worldwide and a global market value of 580 billion US dollars in 2020.
This matters as it demonstrates the importance of plastic in modern life and the potential for growth in the industry despite recent backlash against plastic pollution.
The global plastic products market is expected to grow from $888.99 billion in 2021 to $1,427.59 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%.
This shows the potential for growth in the plastic products market over the next five years. This growth is driven by the growth of the packaging industry, which is a major consumer of plastic products.
This statistic highlights the potential for businesses to capitalize on this growth and take advantage of the opportunities that the plastic products market presents.
The use of robotic automation systems and sensors/wireless technology has increased the productivity of the plastics and rubber products manufacturing industry by 15-30% and the number of machines employed in the industry has increased by 67,000 in the past 4 years.
The industry is continuing to grow and become more efficient, which will lead to better product quality and lower costs.
The global plastics market was valued at 593 billion U.S. dollars in 2021 and is projected to grow to 810 billion U.S. dollars by 2030, with a CAGR of 3.7 percent.
This statistic is important because it shows the growth of the plastics industry and how it is projected to continue to grow in the coming years.
This growth is important to understand in order to understand the impact of plastic on the environment and how to mitigate it.
The global plastic market is expected to reach a market valuation of US$885 Billion by 2032, with the packaging category accounting for 36% of the total demand in 2021.
This shows the growth of the plastic industry and the increasing demand for plastic packaging applications. It also highlights the potential opportunities for the plastic industry in the coming years.
The plastics industry is the 8th largest industry in the US, employing 1.5 million people and generating $394.7 billion in shipments in 2020.
This highlights the significant impact the plastics industry has on the US economy, and the need for manufacturers to consider more eco-friendly plastics.
Plastic production has increased drastically over the last 60 years, with only 9.5% of it being recycled, resulting in 7.5 billion tons of plastic waste piling up on land and clogging waterways. This is having a detrimental effect on public health, livelihoods, and the environment, and is expected to triple by 2050.
This shows the need for more efficient and effective ways of managing plastic waste in order to reduce its negative impacts on public health, livelihoods, and the environment.
It also highlights the need for more sustainable production and consumption practices in order to reduce the amount of plastic waste being produced and ensure that it is managed properly.
Global plastic waste generation has more than doubled from 2000 to 2019, with only 9% of it being recycled and 22% mismanaged.
There is a need for action and international co-operation to reduce plastic production and improve waste management and recycling in order to reduce plastic pollution.
Global plastic production is forecast to increase from 9.2 billion tons in 2017 to 34 billion tons by 2050, with current plastic waste recycling estimated at less than 10%.
This shows that plastic production is increasing rapidly, and that plastic waste recycling needs to increase in order to reduce the amount of plastic entering the oceans.
This is important because plastic pollution is a major environmental issue, and reducing plastic production and increasing plastic waste recycling is essential in order to reduce its impact.
The global plastic market is expected to increase from $457.73 billion in 2022 to $643.37 billion by 2029, with a CAGR of 5.0%, driven by the food and beverage industry’s rising demand for packaging materials.
This shows the potential growth of the plastic industry in the forecast period of 2022-2029.
This growth is driven by the increasing demand for packaging materials from the food and beverage industry, which is indicative of the industry’s potential for further growth and development.
The global plastic market is projected to reach $580 billion in 2020, with ExxonMobil, Sinopec, and LyondellBasell leading the way.
There is an immense growth of the plastics industry since the 1950s. It shows the potential for further growth in the next decade.
The market for plastic products is expected to grow at a CAGR of 11.7% to reach $1,427.59 billion in 2026.
There is potential growth of the plastic industry and potential for businesses to benefit from this growth. It shows the impact of the packaging industry on the production of plastic products, which is important to consider when making decisions about the plastic industry.
Robotic automation systems have led to productivity gains of 15-30% in the plastic manufacturing sector, with 180,000 machines in use in 2021.
The use of robotic automation systems is having a positive impact on the efficiency and cost of plastic manufacturing. This could lead to a more competitive market and lower prices for consumers.
The global plastics market is expected to increase from $593 billion in 2021 to over $810 billion by 2030, with a 367 million metric tonne increase in 2020.
This shows the growth of the industry over the next decade and the current production levels. It also shows the potential for further growth in the industry, which could have a positive impact on the economy and create jobs.
The global plastic market is expected to grow at a CAGR of 3.7% from 2022 to 2032, reaching a market valuation of US$885 billion by 2032.
The plastic market is expected to grow significantly over the next 10 years, indicating a positive outlook for the industry. This growth could lead to increased investment and job opportunities in the sector.
The plastics industry is the 8th largest sector in the US economy, with $394.7 billion in shipments and $541.5 billion in downstream effects, employing 1.5 million people.
The plastics industry has a large effect on the US economy, and is a major employer.
Plastic waste has grown to be a major threat, with only 9.5% recycled and 7.5 billion tonnes left to accumulate.
This highlights the need for more sustainable production and consumption of plastic products, as well as the need to increase recycling rates in order to reduce the amount of plastic waste that is left to accumulate in land and waterways. This is important for protecting the environment, livelihoods, and public health.
The world is producing twice as much plastic waste as 20 years ago, with only 9% recycled and 22% improperly managed, leading to a large amount of plastic waste being dumped in landfills, burned, or leaking into the environment.
This highlights the need for more efficient recycling and waste management practices to reduce the amount of plastic waste that is being produced and improperly managed.
This is important for both environmental and economic reasons, as plastic waste can have a negative impact on the environment and can also be costly to manage.
Global plastics production is expected to increase significantly, so it is critical to reduce production, waste, and increase recycling.
It important to reduce the amount of plastic waste that is produced and dumped into the environment. If the production of plastics is not reduced, it will have a negative impact on the environment, leading to increased pollution and damage to ecosystems.
Additionally, increasing the recycling rate of plastic waste is important to reduce the amount of plastic waste that is produced and to help reduce the environmental impact of plastic production.
Conclusion
The plastic industry is a major contributor to the global economy, and its growth is expected to continue in the coming years. The industry is also an important source of employment for many people around the world.
The statistics presented in this blog post show that the plastic industry is a major player in the global economy and is likely to remain so in the foreseeable future. With the right strategies and investments, the industry can continue to grow and provide more jobs and economic opportunities for people around the world.
References
1 – https://www.fortunebusinessinsights.com/plastics-market-102176
2 – https://www.statista.com/topics/5266/plastics-industry/#topicOverview
3 – https://www.globenewswire.com/en/news-release/2022/10/25/2540827/28124/en/986-Billion-Worldwide-Plastic-Products-Industry-to-2031-APAC-was-the-Largest-Region-in-2021.html#:~:text=The%20global%20plastic%20products%20market%20is%20expected%20to%20grow%20from,(CAGR)%20of%209.7%25.
4 – https://www.thebusinessresearchcompany.com/report/plastics-and-rubber-products-global-market-report
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6 – https://www.futuremarketinsights.com/reports/plastic-market
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13 – https://www.globenewswire.com/en/news-release/2022/10/25/2540827/28124/en/986-Billion-Worldwide-Plastic-Products-Industry-to-2031-APAC-was-the-Largest-Region-in-2021.html#:~:text=The%20global%20plastic%20products%20market%20is%20expected%20to%20grow%20from,(CAGR)%20of%209.7%25.
14 – https://www.thebusinessresearchcompany.com/report/plastics-and-rubber-products-global-market-report
15 – https://www.statista.com/statistics/1060583/global-market-value-of-plastic/#:~:text=In%202021%2C%20the%20global%20plastics,period%20of%202022%20to%202030.
16 – https://www.futuremarketinsights.com/reports/plastic-market
17 – https://www.cadimensions.com/the-plastics-industrys-biggest-challenges-in-2022/
18 – https://www.worldbank.org/en/news/immersive-story/2022/07/01/unpacking-the-plastics-challenge
19 – https://www.oecd.org/environment/plastic-pollution-is-growing-relentlessly-as-waste-management-and-recycling-fall-short.htm
20 – https://www.grida.no/resources/15041
