Africa represents one of the least developed but highest potential markets for polymers in the world, says the latest report from AMI Consulting. Fundamental megatrends such as population growth, a burgeoning middle-class and rising urbanisation rates give rise to a strong growth outlook for the region. In addition, government policies such as greater infrastructure investment, economic diversification strategies and the prospect of greater FDI driven in part by the development of special economic zones offer a favourable backdrop, the report said.
“The relative immaturity of the market and the amount of room to grow offers a vast opportunity for those willing to take the risk. Indeed, only a few countries in Africa have large plastic processing sectors and many import substantial volumes of plastic goods. A comprehensive investigation of market segmentation has revealed that injection moulding is the processing technique which accounts for the greatest volume of African polymer demand, with the main application being preforms sold to converters to make plastic bottles,” the report said.
Plastic water pouches have proven to be a litter and pollution problem that many governments have acted strongly against by imposing single-use plastic bans. As a result, PET is the polymer seeing the fastest growth in demand in most countries, it further said.