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| Trends of Chemical and Plastics Industry in 2022 |
Today
in this blog post we look at what is ahead in 2022 in terms of trends to watch.
The chemical and plastics industry is on the path of recovery in 2022. However,
clouds in the shape of rising energy and raw material prices, inflationary
pressures, spread of Omicron (Covid-19) and supply chain disruptions continue
to darken the sky.
To
counterbalance the energy and raw material costs, companies will probably lower
their capital investments and expansions. The global GDP growth is expected to
be 4.3% in 2022 (5.6 % in 2021).
Major
transitions of the global economy
Business
leaders have to steer their companies through several transitions this year.
One is the transition from a pandemic to endemic Covid-19. Another is the switch
of central banks from fiscal stimulus policy to restraint policy expressed due
to raising in interest rates and stricter credit conditions. In addition, the transition from a
hydrocarbon-based energy to a renewable energy supply will be a challenge for
major corporations.
Long-term
trends which push demand in plastics and specialty materials (2020-2030)
The
switch from internal combustion engine cars to alternative powertrains such as
electro and hydrogen will bring new plastic compounds to the market covering
new requirements such as electromagnetic shielding and stringent flame ratings,
together with sustainability aims.
Robotics
and automation will further push the borders in polymer processing, allowing to
manufacture complex injection moulding parts.
3D-printing
continues to be improved, both from hardware as well as from material side
(heat transfer materials).
In
addition, fluoropolymers can be seen as an enabler to support the realization
of the digital megatrends such as the
Industrial Internet of Things (IIoT), 5G standard, AI, blockchain and the
Metaverse (check out this post with more details).
Other
trends which shape the plastics industry are the challenge to speed up advanced
recycling and the circular economy, together with creating a sustainable
future.
Thanks
for reading and #findoutaboutplastics
Greetings,
Herwig
Juster
Interested to talk with me about your plastic selection, sustainability, and part design needs - here you can contact me
Literature:
[1] HIS Markit
[2] Amercia Chemistry Councel (ACC)
[3] CEFIC
[4] https://www.findoutaboutplastics.com/2019/10/fluoropolymers-as-enabler-for.html
