Plastics And Rubber Products Manufacturing Market Size:
The global plastics and rubber products manufacturing market was valued around $1406 billion in 2017. Asia Pacific was the largest region in the plastics and rubber products manufacturing market in 2017, accounting for around 45% of the total market. India was the largest country in the market accounting for around 12% of the total market.
Plastics And Rubber Products Manufacturing Market Overview:
Many plastic and rubber manufacturing companies are adopting 3D technology to design and develop new plastic and rubber products. Using this technology designers, engineers and manufacturers are creating new models and mold parts. The products made using 3D printers have good mechanical properties like strength and rigidity.
Asia Pacific was the largest region in the plastics and rubber products manufacturing market in 2017, accounting for half of market share. This can be attributed to the high demand for plastic products from the food and beverages and the retail industry in countries such as China and India and tire from the automobile industry.
According to The Business Research Company’s Consultant, Nitin Gianchandani, automated production facilities has enabled textile manufacturing companies to enhance productivity and reduce production costs. The textile industry has been shifting from labor intensive manufacturing processes to automated processes. For example, Swedish company AD Plast, an automotive supplier, installed fifteen ABB robots and four robotized molding machines for automating its production facilities.
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Bridgestone Corporation was the largest company in the plastics and rubber product manufacturing market, with revenues of $31 billion in 2016. Bridgestone’s growth strategy focuses on enhancing its manufacturing facilities and R&D structure. In January 2017, the company announced an investment for its North Carolina passenger tire manufacturing facility, which will include the construction of a new rubber mixer facility. Bridgestone also recently developed a new indoor tire testing facility called “Ultimate Eye Technology (U-Eye) in which tires undergo real-life conditions and different speeds to test the pressure distribution, compound combination, design, and construction. Bridgestone also seeks to improve its product range. It introduced its latest brand of tire with improved heat and wear resistance and quality cooling technology, increasing the life of the tire by more than 10%.
The plastics and rubber products industry comprise establishments that manufacture goods by processing plastic and rubber raw materials. Plastics and rubber products are included in the same industry as they have similar technical properties, however they are categorized based on the sole use of either rubber or plastic as raw material in the production of the product. Companies in the industry manufacture plastic bags and bottles, plastic film and sheets, plastic and rubber pipes, plastic foams, rubber hoses and tires.
Plastics and Rubber Products Manufacturing Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.
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