Page 41 - Plastics News Issue - January 2025
P. 41
BUSINESS NEWS
and other electronics is increasingly enhancing young population, increment in investments in
in the emerging markets. Plastics’ are vital sub- the infrastructural and agricultural sectors, and
ordinate in these products given their versatility, the overall requirements of plastic continue to
resistant characteristics, and low densities. For grow.
instance, polycarbonate material is commonly in
the outer shells of portable device. Whether in food production through drips, or in
affordable housing, plastics formed a substan-
4. Healthcare Expansion tive part of the African dream.
Availability of health care to the population in 3. Latin America
the developing countries is increasing and hence
the increased demand of medical instruments, Brazil, Mexico and other Nations’ business sec-
disposables and packing for medicaments. Vir- tors such as automotive, healthcare and agri-
gin plastics such as polypropylene and polyeth- culture sectors are expanding. There are two
ylene are used in constructing syringes, IV bags strategic markets where plastics are clearly sig-
and medicine bottles. nificant that are flexible packaging and automo-
tive. Separately, sustainable development as a
Opportunities in Specific Regions region’s priority creates opportunities for bio-
based and recyclable plastics.
1. Asia-Pacific
Trends Shaping the Plastics Industry in Develop-
Countries in Asia-Pacific are some of the highest
consumers of plastics, India, china and countries ing Economies
in the south-east Asia region. Development of 1. Sustainability and Recycling
industry in general along with governmental pol-
icies for manufacturing development provides Since the awareness of environmental concern
prospect to plastic manufacturers. rises, developing economy countries are already
implementing actions to decrease the use of
♦ India: Higher profile through Make in India plastics. Business that adopt the use of recycles
program of government of India and grow- or biodegradable plastics have the potential to
ing middle class has led to demand of auto- enjoy competitive edge. For instance there are
motive parts, consumer durables and pack- new plastics from renewable sources like corns
aging material. or sugarcane though they are relatively expen-
♦ China: While the Chinese plastics market is sive than the fossils based plastics.
highly advanced, China’s increasing empha- 2. Technological Advancements
sis on high technology fields such as electri-
cal vehicles and renewable energy, provides Advanced manufacturing technologies such as
available market segments for specificity additive manufacturing now referred to as 3D
plastics. printing as well as automation are making high
quality plastics cheaper to manufacture. These
2. Africa
technologies help companies that adopt them
There are always expectations that Africa is to meet the increasing needs of emergent mar-
the next world economy to overtake. Due to a kets more effectively.
January 2025 PLASTICS NEWS 41
