06 October 2011 03:14 [Source: ICIS news]
MEXICO CITY (ICIS)--Latin American plastic markets have much room to grow, a regional trade association spokesperson said on the sidelines of the 17th annual PLASTIMAGEN International Plastics Exposition and Conference on Wednesday.
Caterina Costa de Garcia, president of the Latin American Association of the Plastics Industry, Aliplast, said per capita consumption of plastics in Mexico stands at 55 kg/year, in comparison with 150-200 kg/year in developed countries. In other Latin American countries, consumption can be as low as 16-18 kg/year.
Latin American industries are working on several fronts to capture the potential market growth, de Garcia said.
Regional players are looking for developments in other parts of the world that can be applied to the Latin American markets.
Various countries are also entering into several multilateral free trade agreements, along the lines of the Mercosur trade bloc, to facilitate product movements within Latin America. De Garcia said intra-regional trade is already becoming more robust.
The focus of the plastics industry is to increase activity in the region without neglecting the environment, according to de Garcia. Market participants are keeping an eye on developments in recycling and carbon footprint.
Strong growth is projected for the plastics industry in Latin America, the Aliplast president said, facilitated by new multilateral trade agreements and improved handling of information and statistics between countries in the region.
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