Market News A vital role in designing, manufacturing and packaging
A new report released by the Plastics Industry Association (Plastics) explains why plastics continue to be the leading material in the design, manufacturing, and packaging.
Watching: Consumer Goods is available for Plastics members and non-members to download here. The report provides an overview of the numerous areas where plastic is used.
“With engineered materials being developed and manufacturing technologies changing, designers will ask if plastics can be used in their products and applications. More often than not, plastics typically perform better and are the best economical alternative,” said Plastics president and CEO Tony Radoszewski, CAE. “The plastics value chain recognises their customers need a wide range of polymers for consumer products. Plastic companies are making their material the leading choice for consumer goods and packaging through innovation, collaboration, performance, sustainability, and competitive price points.”
According to the report, while online sales are growing, the retail sector is actually broader and more interconnected than ever before with e-commerce retailers opening storefronts, groceries embracing online and delivery services, and brick-and-mortar businesses offering online sales and expanding their offerings. Plastics are a part of the sales platform in the store, a product’s packaging, and the shipping and delivery of the consumer good.
Consumer goods manufacturers and retailers are embracing the sustainability and recyclability of products and packaging. A product’s lifecycle has become more important for consumers and manufacturers as environmentally-friendly designs that were once limited to narrow product areas. A wide range of manufacturers have embraced recycled plastics for their products, and plastic’s packaging performance in terms of carbon footprint outperforms other materials such as paper, aluminum and steel.
Plastics Chief Economist Perc Pineda, PhD noted the use of plastics is ubiquitous throughout consumer goods and services compared to other materials. “Plastics’ contribution to overall GDP exceeds those of other industries. The real value added of plastic and rubber products in 2018 is estimated at 75.0 billion dollar — higher than that of paper, glass and aluminum industries,” he added.