Plastic 'Rebirth': How to grow against the trend in the global market?
In the current context of industry turnover and rising raw material costs, the plastics industry is capturing global business opportunities through innovative transformation. Customs data show that in the first seven months of this year, exports of plastic products increased by 7.2% year-on-year. This growth trend reflects the competitiveness and demand of the plastics industry in the global market.
Regeneration opportunities?
Recycled plastics are used to transform waste plastics into new raw materials through pretreatment, melting granulation and modification, and are widely used in packaging, construction, automobiles and electronics. This not only reduces the cost of raw materials, but also reduces the environmental impact of waste. Through technological innovation, companies introduce more competitive products to meet the changing market needs.
According to a report by Polaris Market Research, the global post-consumer recycled plastics market is worth $11.09 billion in 2023 and is expected to reach $27.34 billion by 2032, with an annual growth rate of 10.60%. The size of the domestic market is increasing year by year, and new recycling technologies continue to emerge, improving the recovery rate and recycling rate, and promoting the development of the plastics industry.
Technological innovation-driven
The recycling, recycling and reuse of plastics is key to the sustainable development of the plastics industry. The value of the recycled plastics market reached $11.09 billion in 2023 and is expected to grow to $27.34 billion by 2032, with an annual growth rate of 10.60%. This indicates that the recycled plastics market has great growth potential and commercial value.
Technological innovation is another key factor driving the development of the plastics industry. Through technological innovation, enterprises are able to introduce more competitive products to meet market demand. For example, Goldilocks Technology Co., Ltd. has achieved an increase in product sales and a leading position in the field of recycled plastics through its environmentally friendly, high-performance recycled plastics products.
Overall, the plastics industry is working through innovative transformation, recycling technologies, policy support and market expansion to achieve the Sustainable Development Goals and gain a strong position in the global market. With the advancement of technology and changes in market demand, the plastics industry is expected to continue its growth momentum and contribute to the development of the global economy.
