Houston, TX, July 28, 2009 --(PR.com
)-- Global polyethylene resin consumption
declined -3.7% in 2008, as analyzed and reported by Townsend Solutions. In 2008, 66.7 million tonnes of polyethylene were consumed around the globe, down from about 69 million tonnes in 2007.
The 2008 consumption was well below the five –year annual average of 3.4%, during the 2003-2008 time frame. The global recession and financial crisis in the latter half of 2008 were the main reasons for the world’s decline in polyethylene consumption.
There were some bright spots in 2008. Several regions showed positive consumption growth rates in 2008. Regions with positive growth were in the Middle East/Africa, India, Central/Eastern Europe and Central/South America.
The remaining regions, assessed by Townsend Solutions, exhibited significant consumption declines in 2008. Regions that declined were China, Other Asia/Pacific, North America, Western Europe and Japan.
Positive forces are in place in developing regions for PE growth between 2008 and 2013. The developing regions of China, Central/Eastern Europe, Central/South America, India, Middle East/Africa and Other Asia-Pacific are exhibiting broad-based growth fundamentals. Townsend concludes that the developing-regions’ combined growth rate is projected to be 4.6% per year over the five-year time period. Growth in developing regions is well above the average global projected annual growth rate of 3.2% per year.
On the contrary, as a group, Townsend projects that the more developed regions of North America, Western Europe, and Japan will have a 5-year growth rate of only 1.6% per year on average over the 2008-2013 time frame.
Headquartered in Houston, TX, TownsendSolutions.com helps clients find solutions that drive growth and profitability, supported by the most current market information. Since 1972, Townsend has been a leading provider of consulting services and information to clients who need to know about the plastics industry, worldwide. Townsend's unique position is based on its expert knowledge of the industry and its markets, backed up by its leadership in information gathering and analysis.