A new report from Axis Research Mind claims that the plastics market is expected to reach 508.6 million tons by 2016 primarily supported by the segments (rigid/flexible plastics), resins (thermoplastics/thermoset) and end-users such as food and beverage packaging, building and construction plastics, healthcare and more.
The rigid plastics market is expected to reach 284.8 million tons by 2016 due to the support of emerging countries. Globally, polyethylene (PE) and polypropylene (PP) together account for approximately 46% of the market and are expected to support the plastics industry going forward.
Along with the market value analytics, volume based data also suggests positive prospects for the industry. Interestingly, the report claims that on a volume scale, highest growth rate is expected from Europe during the analysis period.