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The global plastics market will grow by more than 5% by 2014
According to industry analysts, due to strong growth in demand from emerging economies, global plastics market demand will grow at an annual rate of more than 5% annually by 2014, faster than global GDP growth. Analysys stated that the global PE demand will increase at an average annual rate of 5% between 2010 and 2015, and the global PE demand will reach approximately 90 million tons/year by 2015; meanwhile, PP demand will average about 6% annually during the same period. The speed of rapid growth, global PP demand will reach about 63 million tons / year by 2015. From a global perspective, the Asian region will be the fastest growing demand for PE and PP, as the region continues to advance the process of industrialization.