This report mainly discusses the current situation, opportunities and challenges, as well as future trends of overseas expansion in China's plastics and related industries. It is based on a questionnaire survey conducted by Adsale Plastics Network, analyzing chemical raw materials, plastic machinery, and downstream plastic application industries.
1. Questionnaire user profile: The survey was conducted from December 25, 2023 to January 31, 2024, with 1,792 valid questionnaires received. Participating companies came from six major upstream and downstream industries of rubber and plastics, with the largest number of participants from plastic processing machinery and the automotive industry. 92% of the surveyed companies have export business, but for most companies, exports account for less than 30% of their business. The United States, Europe, Southeast Asia, and other regions are the main export destinations.
2. Current status, supply chain management, and trends of overseas expansion in application industries: Industries such as automotive, medical, packaging, consumer electronics/home appliances have seen export growth, for example, China's automobile export volume and export value increased significantly in 2023. However, companies face challenges such as international trade barriers and geopolitical instability, while also having opportunities such as the implementation of RCEP and economic and trade cooperation between China and ASEAN. In 2024, the United States, Europe, and Southeast Asia remain popular destinations for overseas expansion. Most surveyed companies plan to increase their export scale in 2024, but the increase is relatively small. Many companies are optimistic about the industry's overseas expansion trend, and some plan to establish overseas R&D or production bases. When selecting suppliers, they will prioritize existing suppliers and local suppliers.
3. Overseas expansion of Chinese plastic machinery and chemical raw materials: Blow molding machines, extrusion machines, and injection molding machines are the main export products of plastic machinery, and some plastic machinery companies have already implemented overseas market strategies. General plastics, engineering plastics, etc. are the main export products of chemicals, and Chinese chemical companies are also accelerating their global layout.
4. Summary: Overseas expansion has become a broad consensus in the rubber and plastics industry chain, but currently, there are few companies with a high proportion of exports, and there is still room for development. The overseas expansion model of enterprises is gradually shifting towards establishing R&D or production bases overseas. Although there are challenges, there are also opportunities. With continuous practice, China's rubber and plastics industry chain is expected to achieve better results in the global market.
