Press Release: December 11, 2018
The global plastics and rubber products manufacturing market, a part of the paper, plastics, rubber, wood and textile manufacturing industry, grew at a compound annual growth rate (CAGR) of around 5% during the historic period. The paper, plastics, rubber, wood and textile manufacturing industry showed a steady growth. The growth is mainly due to high demand for plastic packaging materials from the food and beverages industry and the retail industry.
In the forecast period, the global plastics and rubber products manufacturing market size is expected to be over $1.5 trillion by 2021, growing at a CAGR of nearly 5%. This is expected due to increasing demand for products such as tires from the automobile industry and rubber hoses from the construction industry. Furthermore, rising population, increase in dispensable income, and increasing per capita incomes are expected to drive the global plastics and rubber products manufacturing market in the future.
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Many plastic and rubber manufacturing companies are adopting 3D technology to design and develop new plastic and rubber products. Using this technology designers, engineers and manufacturers are creating new models and mold parts. The products made using 3D printers have good mechanical properties like strength and rigidity.
Major companies in the Plastics And Rubber Products Manufacturing market, offering 3D technology include Bridgestone Corporation, Michelin Inc., Good Year Tire & Rubber Company, Continental Tire the Americas, S C Johnson & Son Inc.
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