PT Blog

Driven by growing end-use industries and replacement of traditional materials such as metals, the global engineering plastics market is projected to grow by 7.2%/yr from 2018 to 2023, according to a new study from global market research firm Markets and Markets (U.S.  office in Northbrook, Ill.). The report projects the market to grow from $80.70 billion this year to $115.10 billion in 2023.

“Engineering Plastics Market by Type (PC, Polyamide, ABS, PET & PBT, POM, Fluoropolymers), End-Use Industry (Automotive & Transport, Electrical & Electronics, Industrial & Machinery, Packaging, Consumer Appliances)—Global Forecast to 2023,” categorizes the global engineering plastics market on the basis of end-use industry, type, and region.

At its biennial plastics and rubber machinery event (which included shoe technology for the first time), officials from the Taiwanese plastics industry and its government shed some light on progress the island nation is making with its Southbound Policy. Announced on Sept. 5, 2016, that initiative seeks to “strengthen Taiwan’s trade and economic ties with members of the Association of Southeast Asian Nations (ASEAN), South Asian countries, as well as New Zealand and Australia,” according to a government press release.

Included in this effort are four key components:

A shared passion for a cleaner environment and a ‘circular economy’ has resulted in a collaboration between The Netherlands’ Royal DSM (DSM Engineering Plastics North America headquarters in Troy, Mich.) and Hong Kong-based Starboard Ltd., a global leading water sports manufacturer offering paddle, surf, windsurf and kiteboards. This collaborative effort, which includes the collection and upcycling of discarded nylon-based fishing nets to create a material for consumer goods such as surfboard components, supports litter-free beaches, a healthier marine environment and creates a positive social impact for local communities in India.

The two came together when the surfboard company selected DSM’s Akulon RePurposed, whereby the resin used is fully recycled from discarded nylon-based fishing nets and is known for its sustainability profile as much as its performance. Gathered from the Indian Ocean and Arabian Sea, the discarded fishing nets are given a new lease of life as fins, fin boxes, SUP pumps, and other structural parts in surfboards. All the products made using Akulon RePurposed are branded by Starboard as NetPositive.

A new study from India-based global market research firm Markets and Markets (U.S. office in Northbrook, Ill.) projects the global extruded PP foam (XPP) market to grow annually at a 6.9% rate between 2018 and 2023. M&M expects such growth to boost this market from $751 million in 2018 to $1048.8 million in 2023. The key target audience includes manufacturers, dealers, and suppliers of XPP foam, as well as raw material suppliers and R&D institutions.

The report, “Extruded Polypropylene (XPP) Foam Market by Type (Low-Density, High-Density), End-Use Industry (Automotive, Packaging, Building & Construction), Region (APAC, Europe, North America, South America, Middle East & Africa)-Global Forecast to 2023,” aims to address several questions for stakeholders, primarily on which market segment to focus on over the next two-to-five years for prioritizing efforts and investments. Here are key highlights for the forecast period:

Just two weeks ago, I attended NatureWorks’ Innovation Takes Root conference in San Diego, and plan to report on the highlights of that event. While PLA developments were naturally in the spotlight, I had some discussions with key sources on the future growth of blends of PLA and other bioplastics, with PHA (polyhydroxyalkanoate) very much in the forefront.

This week, bioplastics manufacturer Danimer Scientific, formerly MHG (Meridian Holdings Group), Bainbridge, Ga. announced plans to purchase and revitalize an 88,000-sq.ft. former Alltech algae building in Winchester, Kentucky. The company will use the fermentation plant to produce its proprietary NodaxÔ PHA material.