As per the European industry group PlasticsEurope, global plastics production has fallen for the 1st time in 2020 since 2008 as a result of the COVID pandemic. The percentage fall drop is 0.3%. This is only the 3rd time output has dropped since World War II. 

   

Worldwide plastics production falls in 2020 for the first time since 2008: Report

WHAT?

As per the European industry group PlasticsEurope, global plastics production has fallen for the 1st time in 2020 since 2008 as a result of the COVID pandemic. The percentage fall drop is 0.3%. This is only the 3rd time output has dropped since World War II. 

HOW?

The commercial business for polymers – long-chain synthetic molecules of which "plastics" is a common misnomer – has evolved significantly since its early beginnings during and after World War II. In 2015, over 320 million tons of polymers, excluding fibres, were manufactured across the globe.

MORE:

In Europe, plastics output was down 5.1 per cent last year, PlasticsEurope said in a statement.

Previously, global plastics output fell as a result of the oil crisis in 1973 and then the financial crisis in 2008.