Eco-Friendly ingenuities are motivating huge growth in the industry of plant-based plastic packaging market. The industry is chiefly driven by eco-friendly characteristics of these plastic. North America is foretold to be the utmost reve…
The outlook for the South African petrochemicals industry has worsened due to the country's continued
poor economic performance as well as the threat of strike action within the petrochemicals sector and
related sectors, both upstream and in end markets. In spite of the decline in the value of the rand, the sector
is struggling with low levels of competitiveness and weighed down by poor consumption, although past
problems with electricity power supply have eased. Sub-2% growth is expected over the short-term with
little significant growth expected over the five year forecast period in spite of the growth in capacity in the
Basic chemicals output grew 2.6% y-o-y in the first five months of 2016, reversing the trend in 2015 when
full year output fell 0.6%. This was above the trend seen in the overall manufacturing sector which grew
1.0% y-o-y over the period. Plastic also fared better, growing 0.5% y-o-y compared to a 1.9% fall.
However, rubber saw a 1.6% decline. Nevertheless, going into Q216 the rubber sector appeared to pick up
while the plastic segment lost steam, demonstrating the volatility within the petrochemicals sector.