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Plastics Consumption To Increase In Healthcare & Pharma
Sectors
Fuelled by increasing level of plastics usage in
pharma, healthcare, automobiles, consumer packaging and impact of
increased infrastructure spending, the plastics industry is set to
double per capita consumption in the next five years. This was
revealed in an exhaustive study on plastics industry by Plastindia
Foundation.
While sharing the highlights of the report, J R Shah,
chairman, National Executive Council, Plastindia 2015 said that, "India is a
growing market for plastics and consumes about 11 million tonnes annually
against a global consumption of 275 million tonne per year and worldwide, the
plastics and polymer consumption is growing at an average rate of 10 per cent
and is expected to touch 16.5 million tonnes by 2016.”
Plastics industry is conscious of its responsibilities as the
consumption increases and the increasing capacity of plastics recycling is a
priority.
About 30,000 processing units with 113,000 processing
machines have created manufacturing capacity of 30 million metric tonnes per
annum. This has been achieved with a 13 per cent CAGR of processing capacity
during last five years. The industry has invested $5 billion in the machinery
and it is expected to make further project investment of $10 billion for further
increase in capacities during the next five years.
The demand for polymers is to jump to 16.5 million metric
tonnes by 2016-17 from 11 million tonnes during 2012-13, resulting in
consumption rising by 10.8 per cent CAGR. Major polymers manufacturing
capacities are estimated to increase during the same period to reach 15.2
million metric tonnes from 10.4 million metric tones respectively.
India is expected to be among top ten packaging consumers in
the world by 2016 with demand set to reach $24 billion. The growth in sector
wise consumption of PE is estimated from 3.4 million MTs in 2012-13 to 4.9
million MTs by 2016-17, recording a 9.6 per cent CAGR. There is also tremendous
growth prospect of 17 per cent CAGR for PET consumption from one million MTs in
2012-13 to 1.9 million tones by 2016-17.
Medical Device Packaging Market
Total U.S. Medical Plastics Market, which hit 3.5
billion lb in 2010, will grow to 4.4 billion lb by 2015 expanding at a compound
annual growth rate (CAGR) of about 5%.
Medical Device Packaging Markets
Of Total Medical Device Packaging Market, Western
Europe, the United States and Japan will continue to account for almost 60
percent. World demand for medical device packaging is projected to increase 5.9%
annually to $25.7 billion in 2017. Fastest expanding markets : India, Mexico,
China, and the more prosperous Africa and Middle-East countries.
Disposable Medical Supplies world demand is forecast
to expand 6.2 percent annually to $198 billion in 2016. Upgrading and
enforcement of infection prevention standards, coupled with an expanding volume
of hospital, surgical, and outpatient procedures, will promote overall gains. 10
largest national markets, combining to absorb nearly 70 percent of global demand
in 2016: United States, China, Japan, Germany, Russia, France, India, Italy,
United Kingdom & Brazil
(Ref : Chronicle Pharmabiz: Dec 5, 2013) |
