The study predicts that global economic output will improve; enabling higher consumer spending that in turn will drive greater manufacturing activity and demand for more efficient packaging machines and processes.
Pharmaceutical manufacturing hotbed China is expected to see the largest growth in demand for packaging machines with the market set to expand by over $3.3bn through to 2012, toppling the US from its position as global leader.
Additionally, other developing economies like India and Russia, and to a lesser extent lower volume markets like Ukraine, Indonesia, Malaysia, Saudi Arabia, Mexico and Turkey, will need more packaging machines as standards of healthcare and consumer spending continue to increase.
The report also suggests that demand for drug packaging capacity in developed economics will increase, albeit at a slower pace than in Asia’s booming manufacturing hubs. Growth in the west will be driven by an aging population and a greater reliance on single-use disposable packaging.
However, while demand for machines may shift east over the next five years, over 66 per cent of all the packaging units sold worldwide will be made by manufacturing firms based in Western Europe, the US and Japan.
US High visibility packaging market also set for gains
Another report released this week suggested that the US market for high-visibility packaging, including pharmaceutical blister packs, will be worth $8.5bn by 2012, equivalent to a growth rate of 4 per cent a year.
Blister packaging will generate around $2.2bn in sales by 2012, a compound annual growth rate of 4.4 per cent, with the pharmaceutical and healthcare sector under going the greatest increase in demand for this type of product.
While drug packaging firms are set to be major beneficiaries, industrial plastic resin makers may be the overall winners. The report predicts that creation of an estimated 34bn individual packages by 2012 will require nearly 1.2bn pounds of plastic.