Demand for polyethylene (PE), the world's most consumed plastic, has nearly doubled since 1999, according to IHS Markit, a world-renowned consultancy.

The latest analysis by IHS Markit believes that the demand growth of polyethylene is facing huge market pressure, which affects the future growth of plastics, such as around sustainable development, rising consumer expectations and strict environmental regulations in key growth markets such as China.

According to IHS MARKIT statistics, the global demand for polyethylene in 1999 was 50 million metric tons (MT), and in 2018, the global demand for polyethylene is expected to exceed the demand by more than 100 million metric tons.



“The number of consumers in developing countries such as China and India is increasing, and their spending power is increasing, driving the global demand for key plastic products. Plastic is indispensable in our daily life, such as mobile phones, computers, food and beverages Packaging, apparel, automobiles, and even medical devices,” said Nick Vafiadis, vice president of plastics at IHS Markit. “However, growth in consumption comes with greater expectations and responsibilities, both for plastics producers and consumers. IHS MARKIT has been focusing on how producers and consumers can work together to address sustainability, manage plastic recycling or reduce waste generation."

“In my conversations with plastics producers and manufacturers leaders, I found that the plastics industry is very active in embracing sustainability throughout the supply chain,” Vafiadis said. “This includes leading stakeholder discussions and finding ways to engage with retailers, Consumers, recyclers, and even a collaborative approach with designers to plan the use of plastic products after initial consumption.”

It is estimated that by 2022, the annual global demand for polyethylene will reach 120 million metric tons, while the annual demand for polypropylene may not exceed 90 million metric tons during the same period. More than 60% of the global growth in plastics demand comes from the growth of the Chinese economy. IHS MARKIT pointed out that China's ban on importing foreign waste plastics, coupled with the growth of global online shopping, will help drive global demand for virgin plastics.