Plastic industry status analysis!

The plastics industry is a large and growing market. According to statistics, the global plastics market has grown at an average annual rate of more than 4% in the past decade and is expected to reach by 2025

To the global consumption of plastic products more than $600 billion. The Asia-Pacific region is the largest plastic production and consumption market, accounting for more than half of the global total. This is mainly due to the rapid development of manufacturing and construction in Asian countries.

According to statistics, in 2023, the output of plastic products in China was 74.885 million tons, down 3.64% year-on-year, and the market size was 1666.107 billion yuan, down 2.32% year-on-year. Since 2020, the overall profit and trade surplus of the plastic products industry have shown a growing trend, and thanks to the rapid rise of working lifestyles such as remote working and contactless distribution, the downstream demand for daily plastic products has continued to grow.

Plastic products are widely used, and the huge downstream industry provides a strong support for the development of China's plastic products industry, and China's plastic products industry ushered in new development opportunities. China's plastic products are mainly concentrated in agricultural plastic products, packaging plastic products, products, industrial transportation and engineering plastic products.

Qingdao OTW Plastic Industry Co., Ltd is a modern industrial enterprise integrating technology, production and sales with strong technical strength, advanced equipment and vigor. Specializing in the production of polypropylene masterbatch, polyamide masterbatch, polyester masterbatch, non-woven fabric masterbatch, plastic masterbatch, functional masterbatch, modified plastics, etc., can be widely used in chemical fiber, non-woven fabric, injection molding, blow molding, extrusion and other industries.