Upcoming Trade Shows in for Plastics

Valued at USD 507.16 billion in 2023, the plastics industry doesn’t show any signs of getting its foot off the pedal. Not when it’s expected to expand at a compound annual growth rate (CAGR) of 5.1%, reaching USD 778.67 billion by 2032. In the USA, the plastics market is poised to hit an estimated USD 93.43 billion by the same year, largely propelled by demand from the electrical & electronics, healthcare & pharmaceuticals, and packaging sectors. The COVID-19 pandemic disrupted numerous industries, leading to a temporary decline in plastic demand from the automotive and construction sectors due to slowed production and global lockdown restrictions. The downturn was compounded by plummeting crude oil prices, which affected raw material costs and market expansion. However, the demand for plastics in the healthcare sector spiked, particularly for the production of Personal Protective Equipment (PPE), including face masks, gloves, and medical shields. In England alone, approximately 2.3 billion PPE products were distributed between February and July 2020. Engineering plastics—known for their superior thermal and mechanical properties—are seeing a sharp rise in demand. Their robustness, lightweight nature, and cost-effectiveness make them a preferred choice across industries. Traditional plastics, primarily derived from petroleum and natural gas, have long been valued for their versatility, moldability, and cost efficiency, but there’s no going around the face that they are responsible for the overwhelming amount of waste materials in the world. Now that we are in a stage where can’t ignore environmental damage and resource depletion, it’s time to find better alternatives. The plastics industry has turned their sights to bioplastics, which are derived from renewable sources like corn starch, vegetable oil, food waste, and sawdust. Increasing consumer awareness and regulatory pressure have encouraged manufacturers to invest in recyclable and biodegradable plastic solutions, helping to mitigate the impact of plastic pollution.