In the December issue of International Plastics News for Asia, representatives from leading companies in the plastics industry - Beck Automation, Indonesian Packaging
Federation, WITTMANN, Frigel Asia Pacific, Nordson Xaloy Asia,
Delcam, Moretto, ENGEL, SONGWON Industrial Group and NatureWorks -
share their views on the factors that will affect business in 2018
and beyond, as well as the products that will accelerate the move
toward smart manufacturing.
Asia continues to lead the global economy with strong growth projected at 5.5% in 2018, according to the International Monetary Fund (IMF). In its outlook on the region, the IMF cites strong consumption and investment, as well as better than anticipated external demand as driving the pickup in growth. The region’s sustained performance is attributed to stronger-than-expected growth in China, Japan, Korea, and countries belonging to the Association of Southeast Asian Nations (ASEAN), which helped compensate for the weaker outlook in Australia and India.
The global plastics industry is also experiencing tremendous change with innovative materials and manufacturing processes driving new applications in multiple markets including automotive, aerospace, medical, construction, packaging and more, according to Mr. William R. Carteaux, President & CEO of Plastics Industry Association. Anticipated increased demand is prompting processors to actively look for new machinery and technologies to streamline production. And consumers are more conscious than ever about sustainable consumption, encouraging manufacturers to seek plastics offering better performance and greater recyclability and containing more renewable content.
But major developments in the industry are expected to lean on smart manufacturing with rising investments focused on achieving connectivity and digitalization. The global smart manufacturing market is expected to reach over $159 billion by 2025, posting double-digit growth during the period. Asia Pacific market for smart manufacturing products is projected to post about 13% annual growth up to 2025 mainly due to rising awareness on better production technologies, changing lifestyles, increasing investments in production activities, and efficient marketing of the products. Leading industry players have started to offer products and services aimed at accelerating plastics manufacturers move toward Industry 4.0 compliance.
