What is the word of the year in 2014 for the plastics industry? 'Progression,' according to Guillaume Cariou, director of studies and international strategies for Mercadex International, a market consulting firm.
Cariou gave an overview of global market trends during the Society of Plastics Engineers' workshop at the Expoplast event in Montréal. Citing stats from market research firm The Freedonia Group, the global plastic processing machinery demand is expected to advance to 7% through 2017 to $37.6 billion.
Globally, the Asia-Pacific region will record the strongest plastic processing machinery shipment gains through 2017, led by China, which will account for 59% of total regional output.
Cariou said that an important and growing trend is for companies to locate the production of equipment that is close to the market it serves.
"This way the machines are not being sent far away. Being close to the customer base is a trend that we are seeing," he commented.