Smithers Pira – Economic trends to shape rigid plastic packaging industry
UK • In its new report, The Future of Rigid Plastic Packaging to 2022, Smithers Pira’s analysis of the key drivers shaping this segment show that the global rigid plastic packaging consumption is projected at 52.9 million tonnes in 2017 and is forecast to grow during 2017–2022 at an annual rate of 3.7% to 63.4 million tonnes. Meanwhile materials used to produce rigid plastic packaging are valued at USD 166.3 billion (EUR 146 billion) in 2017 and are forecast to grow during 2017–2022 at an annual rate of 4.2% to USD 204.5 billion (EUR 180 billion).
“Rigid plastic packaging demand is likely to be negatively influenced over the forecast period by an expectation of relatively low growth in the global economy. The faster growing emerging and developing economies are expected to grow rigid plastic packaging demand at the highest rates, as opposed to the slower-growing and more mature advanced economies,” says David Platt, author of the report.
Rigid plastic packaging is under a growing threat from flexible plastic pack formats such as stand-up pouches. Flexible packaging uses fewer resources and less energy; it provides significant reductions in packaging costs, materials use and transport costs, as well as certain performance advantages over rigid packaging.