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  • Global Plastics and Composites Space: Innovative Growth Strategies Unveiled
    Sustainability- and circularity-oriented innovations to drive transformational growth

    Research Overview

    Frost & Sullivan’s annual outlook for the plastics and composites industry provides an overview of the industry in 2021 and highlights disruptive, transformational, and competitive trends that are expected to impact industry growth in 2022. The protracted disruption of the supply chain because of natural calamities, ensuing force majeure events, energy shortages, container shortages, and freight challenges, continued to drive upward pressure on resin prices in 2021. While overall consumption registered a recovery of 4.5% in 2021 (in terms of volume), the unprecedented rise in resin prices resulted in revenue registering a robust growth of 16.1% in 2021. Sustainability and circular economy are the most important issues in the plastic industry. Though the pandemic and the ensuing disruption served as short-term impediments to the shift away from single-use plastics, 2022 is expected to witness a resurgence in downward pressure as legislations, restrictions, taxes, and bans are introduced (or will take effect) across geographies. Stakeholders across the value chain and end industries are increasingly ramping up collaborative development of circular material flows in the wake of both tightening regulations and growing customer demand. Chemical recycling will be a mainstream, effective means to achieving circularity. Higher customer demand and the ever-growing investment in supply will augur well for commercialization and scaling up of biobased, greener plastics.

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