Page 40 - Plastics News Issue - January 2025
P. 40
BUSINESS NEWS
Emerging Markets for Plastics:
Opportunities in Developing Economies
economies are experiencing an upturn. These
regions have some of the fastest growing popu-
lations anywhere in the globe. As for encode the
utilization of plastic, there is overwhelming sales
of products that require heavy use of plastic as
the consumers have much higher disposable in-
comes and aspirations today. Here are examples
of specific factors which make these markets
the ideal place for the plastics industry.
1. Rapid Urbanization
Flows of people from rural areas to urban areas
in search of job opportunities are placing urban
centres in developed economies in a state of
rapid growth. This kind of urbanization promotes
needs for housing, infrastructure, and consumer
products which all consume plastics massively.
he use of plastics has become integrating For instance, PVC (polyvinyl chloride): is widely
in the current society so much that it is used as building and Construction material for
Thard to think of a society without them. pipes, conduits, window frames and flooring.
Modern plastics are used in packaging, auto-
mobile, construction materials, electronics, and 2. Booming Packaging Industry
health care and agricultural and so on. There-
fore, with the continuous expansion of global With the increased uptake of e-commerce, su-
economy, consumers’ demand for plastics has permarkets or retail chain, and food delivery
also been rising. The world specifically the de- firms in developing countries this has caused a
veloping countries are considered as perfect high demand for packaging material. Packaging
markets to invest in because of factors such as is a favored sector that uses plastics for packag-
growing industrialization rates, increasing urban- ing because they are cheap and have extensive
ization and alteration of people’s lifestyles. This durability in comparison to other types of pack-
article aims at providing insight into where busi- aging materials. There is greater preference for
ness people can get rich through plastics in the flexible packaging, including pouches and films,
emergent markets. in these markets specifically.
Why Focus on Developing Economies? 3. Growth in Consumer Electronics
The Asian, African, and Latin American nations’ The incorporation of the smartphone, appliances
40 PLASTICS NEWS January 2025
