David J. Price, Partner, Price Hanna Consultants LLC03.02.18
Nonwoven capacity and production demand (in-region demand and exports) in Southeast Asia is expected to continue to grow during 2017–2022 spurred on by favorable economic conditions, local and export market demand and increasing market penetration. Taken as a whole, the ASEAN five countries (Malaysia, Indonesia, Philippines, Thailand and Vietnam) are estimated to be the third largest global market and among the largest global economies. Real GDP growth among the ASEAN five was estimated to have grown at an annual rate of just over 5% in 2017. Real GDP growth in Vietnam and the Philippines grew near or above 7% annually in the final quarters of 2017, higher than in China and other global regions. Real GDP growth in the Philippines from 2018–2022 is expected to remain solid at an average of 7-8%. Attractive Real GDP growth amongst the ASEAN five countries is indicative of rising employment, higher productivity and wages. This, along with good economic conditions in China, Asia Pacific, Southern Asia and other export markets should be favorable for sustained economic conditions in Southeast Asia.
Increasing market penetration for disposable and durable
Increasing market penetration for disposable and durable
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