Industry Analysis & Industry Trends
Revenue for the Basic Plastics and Synthetic Resin Manufacturing industry is estimated at $174.2 billion in 2015, up 7.5% from 2014. Over the past five years, revenue has been growing at an annualized rate of 14.1%. Growth slowed in the beginning of the five-year period due to the lingering effects of the global economic crisis of 2009. Foreign demand for industry products has yet to rebound, and domestic growth has slowed. Specifically, downstream industries like building construction (IBISWorld industry report 4710) and household electronic appliance manufacturing (3954) have been suffering since the government stimulus package of 2010 came to an end.
In 2014, output of synthetic resin reached 69.5 billion tons, up 10.3% from 2013.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Over the 10 years through 2020, value added for the Basic Plastics and Synthetic Resin industry is estimated to increase 9.2% annually. In comparison, China's GDP is estimated to grow 6.5% per year over the same period. Currently, the industry is in the growing stage of its life cycle.
The number of industry enterprises has been increasing at an annualized rate of 3.6% over the five years through 2015. Over the same period, output of synthetic resin has been growing 10.8% annually to address increasing domestic demand.
Significant technology changes are expected to address the challenges brought about by the rising prices of electricity and crude oil, which are important in traditional manufacturing processes for this industry... purchase to read more