Navi Mumbai, Maharashtra -- (SBWire) -- 03/20/2012 --This Market Report analyses the UK plastic packaging market, currently the fastest growing market in the packaging industry. In 2010, the plastic packaging market experienced growth, following a loss in value as the recession affected demand in both the UK and overseas.
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The market for plastic packaging was worth £3.7bn in 2011, an increase of 1.4% on the previous year, and a rise of 13.2% on the market size 5 years earlier in 2007.
Packaging is currently the leading application for plastics in the UK, providing packaging for end-use industries such as the food and drink, pharmaceutical, cosmetics, personal care and household care industries. In the majority of these industries plastics have become the most extensively used packaging material and, if this trend continues, they are likely to overtake paper and board as the most popular material in the packaging industry.
Innovation and technological developments within the market remain strong, with manufacturers continuing to increase the performance and reduce the weight of plastic packaging. Environmental issues are now one of the major factors impacting the UK market. Both EU Directives and national legislation require the plastics industry to recover and recycle continually, as part of a move to decrease quantities of waste material. Despite concerns over the amount of plastics entering land-fill sites, the material that is produced is generally perceived as an environmentally friendly material, as it extends the shelf-life of many products and is extremely lightweight.
Recently, there has been great deal of pressure on the UK plastic packaging industry, with rising prices of raw materials. Many companies in the plastics industry have reported shortages of certain polymers used in the manufacture of plastic packaging. These shortages, along with the high prices of crude oil, have resulted in continually rising prices of raw materials.
Growth in the UK plastic packaging market is expected to be subdued in the next few years, with high materials and energy prices affecting profits. By 2013, more significant growth is expected, driven by increased demand in end-user markets and the continuing preference for plastics over alternative materials.
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Innovation and Technological Developments Within Packaging Market
Bharatbook.com added a new research report on "Packaging (Plastics) Market Report 2012" which gives in-depth analysis and forecast on the Packaging Market.