Plastics Processing Machinery Demand in China to Grow Over 5% Annually Through 2021
CLEVELAND, Feb. 20, 2018 /PRNewswire/ -- Plastics processing machinery demand in China is projected to advance 5.1% per year to $10.8 billion in 2021. Growth is being driven by the country's rising middle class and its demand for more premium plastic goods, which is forcing plastics processors to purchase higher-end machines. This and other trends are presented in Global Plastics Processing Machinery, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/global-plastics-processing-machinery-by-product-and-market-6th-edition-3603.htm
3D plastics printers will see the fastest gains of any product type, but will account for only 4% of total demand in 2021. Unlike the US and Western Europe, where most traditional plastics processing activity has long been offshored, China remains the global center for large-scale mass production of commodity goods. This will limit interest in the supply chain and customization advantages that 3D printing offers developed world manufacturers.
The consumer/institutional market will see the fastest growth of any market, increasing 5.6% per year through 2021. China's middle class will again drive gains for this market, with construction seeing less demand due to a slowdown in infrastructure development.
Related studies include:
#3602 Siding Market in the US, 17th Edition (January 2018)
#3595 Global Plastic Caps & Closures Market (December 2017)
About The Freedonia Group, a division of MarketResearch.com ? The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Machinery & Equipment studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
Press Contact:
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SOURCE The Freedonia Group
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