Industry Analysis & Industry Trends
Revenue for the Basic Plastics and Synthetic Resin Manufacturing industry is estimated at $160.8 billion in 2016, up 3.1% from 2015. Over the past five years, revenue has been growing at an annualized rate of 6.3%. Growth was fast in the beginning of the five-year period due to increasing domestic market demand and foreign demand. However, 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 2015, output of synthetic resin reached 76.9 billion tons, up 10.6% from 2014. After years of output expansion and technological improvements, the industry is more capable of satisfying domestic demand.... purchase to read more
Industry Report - Industry Analysis Chapter
Basic plastics and synthetic resin are purchased by manufacturers to produce finished commodities. Consumer goods made of basic plastics and synthetic resin is present in almost every aspect of our life. Industry demand is reliant on the performance of its downstream industries like building construction (IBISWorld industry report 4710) and automobile manufacturing (IBISWorld industry report 3721).
Fluctuating economic climate
Over the five years through 2016, industry revenue has been growing at an annualized rate of 6.3% to $160.8 billion. However, year-on-year growth has been volatile due to the global economic crisis and its after effects.
In 2012, major economies throughout the world entered another downturn... purchase to read more