“It is expected that worth of global plastic market will be more than 655 Billion USD”
It is so young and powerful. Isn’t it????
Just been about more than 65 years, look around. I bet you would find it so hard to have sight without plastic. Many experts claim it to be the most wonderful material ever found, where many believe that plastics is solely responsible for environmental disaster. I also have my own opinion which I mentioned in previous posts SAY YES TO PLASTICS and WHO IS RESPONSIBLE?? .
Being a businessman, There is third angle I am looking at plastics and its about ECONOMY, REVENUE and EMPLOYMENTS because PLASTIC STREAM holds vast area of PRODUCTION INDUSTRY as well as RECYCLING INDUSTRY providing employments to hundreds of thousands people. Helping going by to everyday life.
According to IBEF.Org INDIA have more than 2000 exporters all over the country. Export of PLASTICS Products/Machinery was 7.65 Billion USD in financial year 2015-2016. With the biggest importer being US (898.45 Mil. USD) followed by China (489.25 Mil. USD), UAE (422.74 Mil. USD), Germany (290.03 Mil. USD), UK (287.68 Mil. USD). Beign non developed country in terms of Industry,
Nepal somewhat depends upon India when it comes to fulfilling plastic demands of the country. In 2015-16 Nepal imported plastic good worth more than 160 Mil. USD.
Around 85-90% organizations associated with plastic industry are Small / Medium scales, and more than 70% of are processing under UN-organised sector thus, it is really difficult to get exact data about total numbers of units in India, yet many reports suggest that around 30,000 processing units are in the country with 40,000,00 people employed to the industry. 4 Million People!!!!!! Amazing. Isn’t it?
Still if we look at the consumption aspects, India is not that much forward. Per capita consumption of plastic in India is just around 11-13 Kg where for US and China it is more than 100 kg.
India expect 20 Million Metric Tonnes consumption annually by 2020. With per capita consumption of 20 kg.
As mentioned, per capita consumption of Plastics in USA is more than 100 Kg. as per PLASTICNEWS, USA Plastic Stream is third largest manufacturing sector after GAS EXTRACTION and AUTOMOBILES. In 2016 US alone demanded for plastic worth of around 295 Billion USD, which is always expected to be increasing.
Going since back in 1999 USA employed more than 1.25 Million people to plastic industry, which turned to 8,70,000 jobs in 2008 due to recession. In 2016 employment grew 1.4% from 2015, Reaching 9,54,000 jobs which is expected to cross million mark again in 2017 reports. (Surely I will be coming with more data in future on the same)
While looking at The Great Britain, BEF mentioned as annual turnover of plastic industry in Britain is 23.5 Billion Pounds (Approx 30.80 Billion USD). About 6,200 firms are engaged in plastic industry out of which 5,200 are manufacturers of plastic products with employing 1,70,000 people.
BTW Thanks to UK for INVENTING POLYTHENE in 1933
China represents largest market for plastics & significant driver for industrial growth. Recent economic slow down impacted the industry. Largest plastics & rubber machinery to china saw its exports drop 4% in 2016 on top of than 19% drop in 2017.
Still comparing internally, Chinese plastic industry have really handled situation. In 2016 plastic machine manufacturing amounted 5.69 Billion RBM ( 0.85 Billion USD) showed 14% growth from previous year. Where export value amounted to 9.05 Billion RBM ( 1.35 Billion USD) which was 7% higher than previous year.
So, overall China is recovering internally and I am certainly sure that in 2018 report chines plastic industry will be way much better than current or previous ones.
The point is…….
As plastic have already dominated our lives. Plastic also is very much important in our nation’s economy, financial growth, employment numbers.
It is just an angle. It is not about Plastic is GOOD or BAD or something like that.
Please feel free to drop your thoughts on comment box.