Mexico's Plastics Industry Expects Larger Contraction in 2021
Mexico's National Association of Plastic Industries (ANIPAC) has estimated the industry contracted by 8% and lost 3,200 jobs in 2020 due to the COVID-19 pandemic. ANIPAC believes the contraction will increase in 2021 if prohibitive government measures go into effect.
At this time, 80% percent of the companies in the sector are small- and-medium-sized, and produce up to 30% of their capacity.
Due to these circumstances, much of the industry is not in a position to make the necessary changes to move toward the production of compostable products, in order to comply with governmental measures that imply diminishing consumption of plastic products.
Industrial Info is tracking 311 plastics-related plants throughout Latin America, with a total project investment of $112 million. Click here for the plant information, and click here for the project information.