As the financial performance of companies would indicate, this year reaps bigger profits with promises of even better prospects in 2013 for the Asian market. Sectors relying on plastics and rubber - automotive, construction, consumer electronics, packaging, and medical/healthcare - are recording substantial gains as a result of research and development efforts expanding the use of plastics and rubber.
Asia's resiliency made it stand out in 2012. The region's economy has bottomed and growth will pick up starting into 2013, according to the forecast of the International Monetary Fund (IMF). Asia's economy is expected to grow by 5.9% in 2013, with China – the world’s second largest economy – to grow at a healthy 8.2% in 2013. The gradual recovery of the United States and European economies is seen as one factor that will further strengthen these positive predictions.
Industrial activities in the Asia Pacific region would be bullish with strong domestic demand in India, Southeast Asia and East Asian countries pushing requirements for plastics and rubber. In addition, the strong manufacturing centres in Japan, South Korea, and Taiwan are at their best – reflecting robust production of plastics and plastics-related industries.
The Asian countries’ negotiations to create one of the world’s biggest trade pacts is being welcomed as an important move towards the integration of the region. Sixteen countries including China, Japan, India and Australia hope to establish the Regional Comprehensive Economic Partnership (RCEP), which will facilitate greater and smoother flow of goods and services between member countries.
All these are good news and as the plastics and rubber industry ends 2012 in high note, Ringier Trade Media Ltd - its plastics/rubber publications and vertical - will remain in the forefront to bring the latest developments and information to guide you in your planning and decision-making in 2013.
Happy New Year to all!
