Market scenario Plastic processing industry on a growth drive
With the demand for plastics growing, the market has also witnessed a rise in the demand for plastic processing technologies. It is here that events like Fakuma come in to display the latest and most innovative solutions for the industry of today.
Plastics are not new to mankind and over a period of time it has been used across various industries such as packaging, construction, automobiles, etc. Available in different types including polyethylene, polyvinyl chloride, polypropylene, polystyrene, the global market for the plastics industry is huge. According to a report by Markets and Markets, the global plastics market is projected to reach 586.24 billion dollars by 2021, at a Compound Annual Growth Rate (CAGR) of 6.84 %. By volume, the market is projected to reach 332.4 million tonnes by 2021, at a CAGR of 4.68 %. Specifically speaking about Europe, the region’s EUROMAP, the umbrella organisation of the European Plastics and Rubber Industry has stated that in 2017, production output of the industry experienced above average growth amounting to 7 %.
Asia: Growing market for plastics
Overall, the global demand for plastics is showing significant progress especially in Asia. The Asia-Pacific region is the fastest-growing market for plastics, in terms of value and volume. This is due to increasing investments by companies, especially in the automotive sector; the growing shift of production facilities to emerging economies; and a strong industrial base in the construction sector, mentions a report by Research and Markets. Some of the major players catering to this growing industry include Exxon Mobil Chemical Company, the Dow Chemical Company, Solvay, Sabic, Borealis, Huntsman Corporation, and many more.
With the rising demand, there is also a need for innovative and cutting-edge plastics processing technologies. Hence, taking advantage of this upbeat market scenario, P. E. Schall & Co. will be hosting one of the most popular shows for the plastics processing industry – Fakuma 2018 in Friedrichshafen, Germany. Expected to be held between October 16–20, industry players will be excited to visit the trade fair as numerous state-of-the-art plastic processing technologies will be showcased including injection moulding, extrusion, thermoforming, 3D printing , etc. It also serves as the perfect platform to network with pioneers from the sector and to get updated on the latest industry happenings.
The international show will also feature interesting sessions and discussions about processes for sustainable recycling, green and lightweight products, industry 4.0-compatible systems and components, and much more. The last edition of Fakuma welcomed around 1,889 exhibitors from 783 foreign countries and this year the show is expecting an even higher turnout. With so many innovations and dynamic ideas under one roof, the event is bound to attract significant business deals and potential leads for players in the market.
We wish all the exhibitors and visitors all the best for the show!