Asia is in the grip of a plastic crisis, with manufacturers across the region warning of shortages as the Iran oil shock hits supplies of packaging for food, medical aid and other consumer products.
The disruption of oil shipments from the Middle East has severely constrained supplies of naphtha, a petroleum product that is turned into speciality chemicals used in semiconductor manufacturing but is also essential to making plastic. The price of naphtha in Asia has almost doubled since the war began.
That has sent the prices of bags, containers, cups and utensils soaring, sparking fears of shortages as manufacturers struggle to source packaging for products such as instant noodles, beverages and cosmetics.
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