Mar 2 2011
Demand for plastics in South Africa is rising, but imports from Asia and the Middle East could satisfy much of the growth in this market.
A report from Frost & Sullivan, "Production and Investment Forecasts in the South African Chemicals Industry," estimates that the country's chemical industry generated sales of $21.67 billion in 2009.
The report attributes growing demand for chemicals, particularly plastics, to the nation's mining, automotive, agricultural and construction industries.
If one looks globally, demand for plastic packaging caps and closures are projected to rise 4.6 percent per year to $40 billion in 2014, according to the World Caps & Closures report by The Freedonia Group, Inc. Trends favouring this growth and feeding the sector include globalization, urbanization, and a shift in product mix toward higher-value closures- including plastic products with child-resistant, tamper-evident and dispensing features.
While numbers show that the U.S. is the largest market for plastics, the fastest growth is taking place in Africa and other developing nations.
Under endorsement by the Plastics Federation of South Africa, the International Quality & Productivity Center - an international research firm - is organizing a key meeting in Johannesburg to bring together the key stakeholders from the government and regulatory bodies as well as local and international plastic converters and band owners to discuss the country's growth and practical solutions that can be implemented to improve service delivery and future planning in the plastic industry.
Source: http://www.iqpc.ae/