Plastics processing machinery demand in China is projected to advance 5.1% per year to $10.8 billion in 2021. Growth is being driven by the country’s rising middle class and its demand for more premium plastic goods, which is forcing plastics processors to purchase higher-end machines. This and other trends are presented in Global Plastics Processing Machinery, 6th Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
3D plastics printers will see the fastest gains of any product type, but will account for only 4% of total demand in 2021. Unlike the US and Western Europe, where most traditional plastics processing activity has long been offshored, China remains the global center for large-scale mass production of commodity goods. This will limit interest in the supply chain and customization advantages that 3D printing offers developed world manufacturers.
The consumer/institutional market will see the fastest growth of any market, increasing 5.6% per year through 2021. China’s middle class will again drive gains for this market, with construction seeing less demand due to a slowdown in infrastructure development.