Modified plastics: rapid growth in demand, broad space for development
Release time:
2023-12-25
The overall demand for modified plastic raw materials in the market is very high. It is estimated that the overall market has reached 13.61 million tons, and consumption is also growing rapidly. The compound annual growth rate of 14.3 percent since 2004 is higher than the 9.6 percent for plastics. Modified plastics are widely used in many industries, such as automobiles (23.5 percent) and household appliances (37.0 percent), because they have product advantages that ordinary plastics do not have. Therefore, from the perspective of application, it can be said that they have broad prospects.
The overall demand for modified plastic raw materials in the market is very high. It is estimated that the overall market has reached 13.61 million tons, and consumption is also growing rapidly. The compound annual growth rate of 14.3 percent since 2004 is higher than the 9.6 percent for plastics. Modified plastics are widely used in many industries, such as automobiles (23.5 percent) and household appliances (37.0 percent), because they have product advantages that ordinary plastics do not have. Therefore, from the perspective of application, it can be said that they have broad prospects.
At present, the proportion of modified plastics in China (10%) is far lower than the international level (20%), mainly due to the late start of domestic enterprises and the low market share; however, with the lightweight of automobiles and the upgrading of household appliances consumption, it can be said that favorable factors will break out in the next few years. Therefore, from the current situation, the high demand for modified plastics can be sustained, and the development prospects are very broad.
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