What’s next for the rigid plastic packaging market?
In a new market report, "The Future of Rigid Plastic Packaging to 2022," Smithers Pira (smitherspira.com) forecasts that global rigid plastic packaging consumption will be worth $166 billion in 2017, and exceed $200 billion at the end of its study period in 2022. Volume consumption of rigid plastics globally will reach 52.9 million tonnes in 2017, and is projected to grow over the next five years at an annual rate of 3.7% to 63.4 million tonnes.
Rigid plastic packaging market expansion will continue to profit from the drive to replace traditional materials – principally glass and metal – with lighter weight, more cost-effective and higher performance plastic materials in various markets. This transition is being accelerated by concept innovations – such as the clear plastic can. Developed by U.S.-based Milacron, the ‘Klear Can’ technology is aimed at transforming the canned food preservation industry, saving weight and allowing a better display of premium tinned goods on supermarket shelves.