Plastic products market in UK dipped by 2% to £15.1 bln in 2008

23-Jul-09

The UK plastic products market declined by 2% to £15.1 bln in 2008, as demand was affected by the economic downturn as per Market & Business Development. In a five-year review from 2004 to 2008, MBD found the UK market grew until a peak of £15.4 bln was reached in 2006. The subsequent downward trend will continue, as the markets are forecast to further see declines of 6% in 2009 and 1% in 2010. An upturn over the following three years which will see the market grow to £14.6 lbn in 2013 (at 2008 prices). Demand for plastic building products is expected to decline by 10% in real terms between 2008 and 2013, taking the value of the sector to £3.3 bln (at 2008 prices) in 2013. But MBD was optimistic of prospects for increasing substitution of traditional materials by plastics in the tubes and pipes sector. MBD’s outlook for the next five years groups together plastic plates, sheets and profiles into one sector which it says will account for 24% of the total UK plastics market. Declines of 7% and 2% in real terms are projected for 2009 and 2010, but this is expected to be followed by increases of 2% in real terms in each of the following three years, taking the value to £3.5 bln in 2013 (at 2008 prices).