Plastic packaging market annual growth rate to catch up with other parts of Asia
Smithers PIra, according to a report released by the 2015 global hard plastic packaging market is expected to reach $630 billion, over the next five years will maintain stable growth at a rate of about 3.7%, is expected to reach $755 billion by 2020. Report also pointed out that in Europe, the average annual growth of rigid plastic packaging market is far higher than that of paper market, the average annual compound growth rate will reach 2.7%, is expected to European paper market scale will reach $2020 in 193 billion.
From the point of production, in the next five years, an average rate of rigid plastic packaging market in Asia are far more than other regions, the compound growth rate of 9.1%, is expected to reach 16.2 million tons in 2015, will reach 25 million tons in 2020. Western Europe and North America and other developed countries and regions of rigid plastic packaging market level, the average annual growth rate is lower than Asia Europe compound growth rate of 2.3% over the next five years, in North America, the compound growth rate of 1.6%.
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