Basic plastic and synthetic resin industry at $145.7 billion

Revenue of the basic plastics and synthetic resin manufacturing industry in China is estimated at $145.7 billion in 2013. Over the past five years, revenue has been growing at an annual rate of 18.6 percent, says IBISWorld. Growth slowed in the latter years of the five-year period due to the lingering effects of the global economic crisis of 2009.

Growing domestic demand is the primary driver of the basic plastics and synthetic resin manufacturing industry, says IBISWorld. The household electronics manufacturing industry in China is shifting towards the use of more plastic in its products to make them lighter (IBISWorld industry report 3954). In addition, polypropylene (PP) products are considered environmentally friendly, and they are increasingly being used in the manufacture of decorative and functional auto parts (IBISWorld industry report 3725).  www.ibisworld.com