Trend Analysis of Synthetic Resin Industry

In recent years, my country has continuously developed and improved the synthetic resin industry chain, and the product self-sufficiency rate has been greatly improved. It has changed from partial dependence on imports to most domestic production, and some products have reached the international advanced level. Especially with the development of modern coal chemical industry, the diversification of synthetic resin raw materials has been realized, the products are gradually developing from low-end to high-end, and special resins are gradually replacing general-purpose resins.

2023/12/08

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In 2024, the growth rate of global synthetic resin consumption will return to normal track.

With the end of global monetary policy tightening and inflationary pressures easing, global GDP growth is expected to be 3% in 2024. Trade activity will bottom out when the risk of stagflation is lifted. In addition, the United States, India and other countries will hold elections, and those in power will introduce policies to stimulate economic growth. Affected by interest rate hikes and geopolitical conflicts, the euro zone economy will be in a deep downturn in 2023, but with the euro zone's rapid security of energy supply in the short term, superimposed on the end of the interest rate hike cycle, the euro zone economy is expected to usher in a small rebound in 2024, the euro zone GDP growth rate is expected to increase to 1.5 per cent in 2024. With the recovery of global trade, ASEAN's economic growth will recover slowly. Although the growth rate is limited, the growth rate is relatively resilient. ASEAN GDP growth is expected to be 4.5 in 2024.

2023/12/04

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