Plastics industry expects sustained growth despite ban in some cities

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The Philippines’ plastics industry expects a single-digit growth, potentially at par with the gross domestic product performance in 2024 and the near term

despite the ban on the use of single-use plastics in some areas and growing anti-plastic campaigns.

Despite the pressures from different local government units, particularly in Metro Manila, the group believes that the industry would continue to thrive. The growth of the Philippines plastics industry is driven by increased demand across various sectors, including packaging, construction and electronics.

According to Messe Düsseldorf for Asia region head Germot Ringler, the Philippines packaging industry is projected to reach 69 billion units by end-2024, with an annual growth rate of 3.3 percent.

 

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Belgique Dernières Nouvelles, Belgique Actualités