SOME TIMELINE POINTS/NOTABLE MOMENTS IN THE HISTORY OF THE PLASTIC INDUSTRY

•  In 1839, polystyrene or PS was discovered by Eduard Simon.
•  In 1862, Parkesine was discovered by Alexander Parkes.
•  In 1863, cellulose nitrate or celluloid was discovered by John Wesley Hyatt.
•  In 1872, polyvinyl chloride or PVC was first created by Eugen Baumann.
•  In 1894, viscose rayon was discovered by Charles Frederick Cross and Edward John Bevan.

•  In 1908, cellophane was invented by Jacques E. Brandenberger.
•  In 1909, the first true plastic, phenol-formaldehyde, trade-named bakelite, was invented by Leo Hendrik Baekeland.
•  In 1926, vinyl or PVC by Walter Semon invented a plasticized PVC.
•  In 1927, cellulose acetate was invented.
•  In 1935, low-density polyethylene or LDPE was discovered by Reginald Gibson and Eric Fawcett.
•  In 1937, Otto Bayer and co-workers discovered and patented the chemistry of polyurethanes, trade-named igamid for plastics materials and perlon for fibers.
•  In 1938, the polystyrene was made practically.
•  In 1941, the polyethylene terephthalate or Pet was invented by Whinfield and Dickson.
•  In 1933, Ralph Wiley, a Dow Chemical lab worker, accidentally discovered another plastic called polyvinylidene chloride, which was later called SaranTM. This plastic was first used for the protection of military equipment and later for food packaging.

INTERESTING/AMUSING/UNEXPECTED FACTS ON THE PLASTICS INDUSTRY

• The polypropylene and PVC are utilized in vehicles to reduce weight, hence, cutting fuel consumption and making vehicles safer and more comfortable.
• The PVC is also made into blood bags as well as plasma bags that ensure safe and hygienic storage of blood.
• The polyvinyl chloride (PVC) or vinyl was discovered during experiments to bond rubber to metal. The material for this research was not expensive to manufacture, and they were durable, fire-resistant, and easily molded.

• Plastic is a very resistant material to bacteria and fungi. These materials are interconnected by their molecular structures and are too big for microbes to get their biters on it and digest.
• It takes about 450 years on the average for a plastic bag to begin decomposing. It also takes another 80 years for the plastic to disappear completely.
• Every piece of plastic ever made, ever in history, is yet to begin the process of decomposing.
• Globally, over 600 billion pounds of plastic are manufactured every year and statistically speaking, that represents more than one plastic bag per minute in production.
• Over 13 billion plastic bags are produced every year, which is equal to 300 bags per adult, per year in the USA.
• About 24 million gallons of oil are needed to manufacture one billion plastic bottles, putting in mind that oil is a finite resource
• About 150,000 tons of plastic is disposed into the oceans every year, aside from visual pollution, and this pollution causes the death of over a million aquaculture lives that take plastics as food. Plastic pollution has also killed animals on the land such as goats, sheep, among others, when they mistakenly ingest it as food.
• When plastic is recycled, it can save up to two-thirds of the energy required for producing plastic from raw materials.
• Statistics have it that one recycled plastic bottle saves enough energy that can light a 60W light-bulb for about six hours.

CURRENT INSIGHTS OF PLASTICS/PLASTIC INDUSTRY

• As compared to past 10-15 years (2002-2017), the production of plastic has constantly been increasing with 200 million tons (2002) to 288 million tons (2012) to 348 million tons (2017).

• The widespread usage of plastic, especially single-use plastics, is leading to a widespread existence of plastic. In most of the countries, researchers have found plastic fibers in tap water, and most of it enters the ocean as microplastics, adversely impacting marine life.
• To minimize the negative impact of plastic, there is increased push for plastics to be recycled. In the US, 30% of the plastic bottles were recycled 2017. The recycling rate of polyethylene terephthalate (PET) has increased by 90% in Japan. Also, 24 to 74 percent of plastic was recycled in the year in European countries.

• At present, the global plastics industry is valued to be at a market size of $522.66 in 2017.

• Polyethylene is one of the key products of the plastic industry. Plastic had a global production of over 80 million tons in 2017 and is being primarily used in the packaging sector, which includes containers and bottles, plastic bags, plastic films, and geomembranes.

• The packaging industry is the most prominent application segment in the plastic market due to the high demand from consumers in emerging economies, which is stirring up the demand for plastics such as polyethylene and PET.

FUTURE INSIGHTS OF PLASTICS/PLASTIC INDUSTRY

• By the year 2050, "plastic production is expected to have tripled and will account for a fifth of global oil consumption."

• Globally, the statistics show that there will be an increase in the market value of plastic recycling, which is expected to reduce the negative impact of plastics on the environment. Compared to $31.5 billion spent in 2015, the market value is expected to reach $56.8 billion by 2024.

• According to the market report by Grand View Research, the global plastic industry is poised to expand at a CAGR of 4.0% during the forecasted period of 2019-2025. 

• The market value of polyethylene terephthalate worldwide, as compared to $24 billion in 2016, is expected to reach around $38 billion by 2023.

• Due to the increasing demand of consumers globally for the for plastics such as polyethylene and PET in the packaging industry, the segment is forecasted to account for more than 35% of the overall revenue by 2025.