2014-02-25 04:27:03 - Basic Plastics and Synthetic Resin Manufacturing in China - a new market research report on companiesandmarkets.com
Revenue in the China basic plastics manufacturing market and synthetic resin manufacturing industry is estimated at $145.7 billion in 2013, up 13.7% from 2012. Over the past five years, revenue has been growing at an annualized rate of 18.6%. Growth slowed in the latter years of the five-year period due to the lingering effects of the global economic crisis of 2009.
Foreign demand for industry products has yet to rebound, and domestic growth has slowed. Specifically, downstream industries like building construction (IBISWorld industry report 4710) and household electronic appliance manufacturing (3954) have been suffering since the government stimulus package of 2010 came to an end.
In 2013, output of synthetic resin is estimated at 55.7 billion tons, up 6.9% from 2012. After
years of output expansion and technological improvements, the industry is more capable of satisfying domestic demand. As such, imports as a share of domestic demand have fallen from 40.6% in 2008 to about 16.3% in 2013. The share of exports in total industry revenue has also dropped significantly â from 12.4% of revenue in 2008 to 3.9% in 2013. This decline is the result of weaker global demand stemming from the recession and the appreciation of the Chinese yuan.
In the next five years, the industry is expected to be relatively stable. Revenue is forecast to increase at an annualized rate of 8.9%, to $223.1 billion in 2018. With new production lines being put into use each year, competition within the industry will grow. In addition, the Chinese government is expected to increase its regulation of the industry with respect to environmental protections and energy efficiency, further raising the barriers to entry.
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