The Economics of Plastics
The Plastic Age
How plastic production grew from almost nothing in 1950 to hundreds of millions of tonnes a year, what it's used for, and why it transformed modern life.
Plastic is one of the most important materials of the modern age.
Growth
- Global plastic production was around 2 million tonnes in 1950.
- It rose to over 400 million tonnes a year by the 2020s.
Uses
- Packaging: the largest use, around a third or more.
- Construction: pipes and insulation.
- Textiles: polyester and nylon.
- Cars and electronics.
- Medical: syringes, gloves and equipment.
Why plastic spread
- Light, strong and flexible.
- Cheap to make.
- Durable and hygienic.
The problem
The durability that makes plastic useful means it lasts hundreds of years in the environment.
India
India’s per person plastic use is lower than in rich countries, but total use is large and growing.
Recycling rates
Globally, only around 9 percent of plastic ever made has been recycled, according to widely cited estimates.
Disposable plastic syringes made injections safer by reducing infections from reused needles.
It's light, cheap and hygienic, with many valuable uses.
- Plastic production rose from 2 million tonnes in 1950 to over 400 million.
- Packaging is the largest use.
- Plastic is light, cheap and durable.
- Only about 9 percent has ever been recycled.
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