Feiplastic ’19: Brazil plastics group predicts 2.5% growth for 2019

SAO PAULO (ICIS)–Brazil’s production of finished plastics is expected to outpace GDP growth in 2019 and increase by 2.5%, industry group ABIPLAST said on Monday.

Finished plastics production fell by 0.8% in 2018 even though Brazil’s GDP grew by 1.1%.

Brazil’s GDP growth projections for 2019 were recently cut to 2% and on Monday analysts further cut their projection to 1.71%, but ABIPLAST was sticking with its original projection of 2.5% for the sector, ABIPLAST president Jose Ricardo Roriz said on the sidelines of this year’s Feiplastic.

Roriz spoke at the opening of the event on Monday, saying the industry needs to innovate to become more competitive and work to promote the advantages of using plastics in a circular economy.

He called for actions that would lead to an increase in recycling, saying this was an opportunity for different members of the plastic industry’s production chain to work together.

Brazil recycles 23% of plastics with short to medium-term use, he said, adding that the group would like to see an increase in recycling of 1% a year over the coming years.

An event such as Feiplastic gives us the opportunity to promote the industry and show the public that the sector is concerned about having technologies that promote sustainability, Roriz said.

Around 55,000 people were expected to visit Feiplastic this week, according to ABIPLAST.

Other plastic industry associations attending the event also stressed the importance for the sector to focus on sustainability, including Acoplasticos, a group from Colombia, and ANIPAC, Mexico’s national plastics industry association.

ANIPAC called for unity saying the industry, governments and private groups must work together to find a solution for the problem of plastics waste.

Feira Internacional do Plastico (Feiplastic) takes place on 22-26 April in Sao Paulo, Brazil.

Adds analysts’ latest forecast in paragraph 3.