International plastics manufacturing falls for first time since 2008

International plastics manufacturing declined in 2020 because of the coronavirus pandemic, solely the third time since World Battle II that output has fallen, an trade physique stated Thursday.

Output has fallen solely twice beforehand, because of the oil disaster in 1973 and in the course of the monetary disaster in 2008.

Worldwide output slipped to 367 million tonnes final 12 months from 368 million in 2019, a 0.3 p.c decline, in response to the trade federation PlasticsEurope.

The drop was as a result of “the affect of COVID-19 on the worldwide economic system”, PlasticsEurope stated in an announcement.

However output in China—which at the moment accounts for a 3rd of worldwide plastics manufacturing—continued to develop by 1.0 p.c.

In Europe, manufacturing of recent plastics was down 5.1 p.c at 55 million tonnes final 12 months, PlasticsEurope stated.

The car sector, one of many largest clients for the trade, noticed its plastics consumption plunge by 18 p.c in Europe in 2020, the federation calculated.

The 27-nation EU now accounts for simply 15 p.c of worldwide plastics manufacturing, down from 21 p.c in 2010.

The USA produces round 19 p.c of the world’s plastics, in contrast with 20 p.c 10 years in the past.

Automakers say 2020 manufacturing plunged in ‘worst disaster ever’

© 2021 AFP

International plastics manufacturing falls for first time since 2008 (2021, June 10)
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