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 - Starting a New Business Chapter
A relatively high level of investment is required to start a business in the industry for the purchase of manufacturing facilities, raw materials and for research and development (R&D). The industry is also technology-intensive with R&D expenditure representing 4.2% of total revenue in 2014. Skilled workers are also necessary to manipulate machines.
The industry has attracted many large foreign oil companies like Total and BP since China has a relatively low environmental regulation barriers compared to most developed countries. However, according to the Comprehensive Scheme on Energy Saving and Emission Reduction during the 12th Five-Year Plan (2011 to 2015), regulations will be enhanced in the future... purchase to read more