South East Asia is the world leader in plastics consumption
Publish date: 2025-01-21

As per a recently published research report, South East Asia has emerged as the global leader in plastics consumption, with over 50 million tons consumption of plastics in 2004, overtaking USA as well as Europe. Asia is also leading growth in the market for thermoplastic polyurethanes (TPU). The consumption of TPU was 357,100 tonnes in 2004, with Asia accounting for just over 50% of demand, Europe 27% and the Americas, the remainder.
China accounts for nearly 65% of all polymer demand and approximately one-third of production. This also illustrates a considerable shortfall in polymer supply in China. With the exception of Vietnam (which has been developing from a much lower base), China has consistently been the fastest growing market in the region for plastics consumption for over a decade, and growth continued unabated through both the recessionary periods of 1998 and 2001. The dynamism of the Chinese economy has been largely immune to global influences.
The market is increasingly being driven by developments in China and growth there has fuelled export booms for the rest of the region in commodities, raw materials, machinery and components. Ultimately, the strength of China could undermine the plastics industry in the rest of South East Asia. 2004 was another strong year of growth for polymer demand in China. China 's huge dependency on imported polymer means that the country's polymer markets have become integrated with international markets and follow global trends. Prices of domestically produced and imported materials are being driven up by high international prices for raw materials, as well as oil and naphtha. This is leading to some pain for processors, particularly smaller ones.
China accounts for nearly 65% of all polymer demand and approximately one-third of production. This also illustrates a considerable shortfall in polymer supply in China. With the exception of Vietnam (which has been developing from a much lower base), China has consistently been the fastest growing market in the region for plastics consumption for over a decade, and growth continued unabated through both the recessionary periods of 1998 and 2001. The dynamism of the Chinese economy has been largely immune to global influences.
The market is increasingly being driven by developments in China and growth there has fuelled export booms for the rest of the region in commodities, raw materials, machinery and components. Ultimately, the strength of China could undermine the plastics industry in the rest of South East Asia. 2004 was another strong year of growth for polymer demand in China. China 's huge dependency on imported polymer means that the country's polymer markets have become integrated with international markets and follow global trends. Prices of domestically produced and imported materials are being driven up by high international prices for raw materials, as well as oil and naphtha. This is leading to some pain for processors, particularly smaller ones.
Source: plastemart