- The global market for plastics injection molding reached $139 billion in 2018 and should reach $233 billion by 2023, at a compound annual growth rate (CAGR) of 10.9% for the period of 2018-2023.
- The global market for plastics recycling should grow from $25.3 billion in 2018 to $33.8 billion by 2023 at a compound annual growth rate (CAGR) of 5.9% for the period of 2018-2023.
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- The global market for flexible-foam reached $29.1 billion in 2017. The market should reach $36.9 billion by 2022 at a compound annual growth rate (CAGR) of 4.9% for the period of 2017-2022.
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Cheap abundant natural gas has spurred the plastics industry to examine the economics of moving away from their current dependence on oil supplies. For continued reasons of adaptability and imperviousness to water durability, plastics have continued their reign as one of manufacturers’ most beloved material. The versatility and high resource efficiency of plastics have made plastics key material in strategic sectors such as packaging, transportation, building & construction, industrial, medical devices and in several other sectors.