The primary plastic production in China stood at 12.47 ten million metric tons in 2023. Forecasted data shows a consistent upward trend from 2024 to 2028, with production volumes increasing annually from 13.02 to 15.36 ten million metric tons. Year-on-year, the projected increase is approximately 4.53% in 2024, 4.53% in 2025, 4.34% in 2026, 4.15% in 2027, and 3.85% in 2028. The compound annual growth rate (CAGR) over the five-year forecast period is projected to be approximately 4.28%.
Key future trends to watch:
- Advances in recycling technology potentially influencing production dynamics.
- Government regulations on plastic usage and sustainability initiatives.
- Global market demand shifts driven by environmental concerns.
- Potential impacts of raw material price fluctuations.
