04 November 2011 22:48 [Source: ICIS news]
BUENOS AIRES (ICIS)--Plastics consumption in Brazil is expected to continue to grow at a strong rate, driven by a shift in demographics as well as greater use of food packaging, the head of the country’s plastics industry association said on Friday.
“In the coming years, we will see an increase in the working-age population which will be a stimulus to productivity and consumption,” said ABIPLAST president Jose Ricardo Roriz Coelho at the 2011 Petrochemical Seminar organised by US-based Polyolefins Consulting.
“In the next 10 years, Brazil will increase its consumption of overall consumer products by $640bn (€461bn),” he added.
Along with the favourable demographic shift, Brazil is consuming more packaged foods, he noted.
“There is also a great opportunity to add value in Brazilian [packaged] food exports,” Coelho said.
Food and beverage packaging accounts for 25.9% of plastics consumption in Brazil, he noted.
From 2000-2010, plastics consumption in Brazil rose at a compounded annual growth rate (CAGR) of 4.6%, hitting 6.2m tonnes in 2010, said Coelho.
Plastics production has risen at a CAGR of 4.3% over the period, totalling 5.92m tonnes in 2010.
($1 = €0.72)
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