The modified plastics industry is expected to witness significant growth by 2025, largely dependent on the growing demand from the automotive and appliance industries. Modified plastics modify general-purpose and engineering plastics through physical and chemical methods to enhance their properties, such as toughness and flame retardancy. This industry is widely used in many applications, especially in the manufacture of home appliances such as washing machines, televisions and air conditioners, which is an important downstream market for modified plastics.
In recent years, with the global awareness of energy saving and environmental protection, lightweight design has become a product development trend. Especially in the field of automobile and home appliances, the substitution effect of modified plastics is becoming more and more obvious, which promotes the expansion of this market. However, China's modified plastics technology started relatively late, and high-end products still face the problem of import dependence.
In 2023, China's production of refrigerators, air conditioners, washing machines and colour TVs reached 96,323,000 units, 244,870,000 units, 104,583,000 units and 193,396,000 units, respectively, showing significant market demand. In the future, the demand for modified plastics will continue to grow with increasing opportunities for consumption upgrades and product replacement.
