By: EUROPEAN PLASTICS NEWS
July 15, 2013
Global demand for plastic cups and lids will increase 5.9 percent per year through 2017, outstripping overall market growth of 5 percent, according to a new report.
While the market for all cups and lids will grow 5 percent to $25.9 billion in 2017, the market for plastic cups and lids will increase 5.9 percent to $13.9 billion over the same period, according to the report, "World Cups & Lids," from Cleveland-based Freedonia Group Inc.
Demand in plastic materials will be driven by growth in drinking cups, especially larger sized drinking cups, as well as growth in specialty lids, such as those used to prevent coffee spillages.
In terms of material, polypropylene and PET will make advances at the expense of polystyrene. And the countries that will experience the highest growth rates are India and China, followed by Indonesia, Russia, Brazil and Mexico.