FREE DEMO  |  Blog  |  Support  |  Training  |  Feedback

4 Trends in the U.S. Plastics Industry You Should Know

Posted by IndustrySelect on Tuesday, August 27, 2019

100040_plastics_lab

2 MIN. READ

The plastics-manufacturing industry is experiencing strong growth across the United States and globally, but the factors contributing to that growth are varied and nuanced.

There are four aspects of the industry in 2019 and beyond, and knowing them will help you understand the market better.

1. The industry is growing - Globally, the plastics market was valued at $522.66 billion in 2017 and increasing. The global plastics and resins market is expected to grow 3.8% by 2022 when the value reaches $569.3 billion.

According to data collected by IndustrySelect, 6% of major plastics manufacturers in the United States reported employment increases in 2018 (a 4% increase from 2017).

2. Midwest and South are industry hubs - The data shows that a cumulative 65% of plastics manufacturers are located in the South and Midwest, 37% Midwest, 28% South. Comparatively, the West and Northeast shares account for 17.53% each.

A variety of factors play into that statistic, but a major one is the relative affordability of real estate in the Midwest and South.

3. Packaging is soaring - The plastics-packaging market is by far the fastest-growing segment of the plastics-manufacturing industry in the U.S. It is projected to account for a whopping 35% of the industry's overall revenues by by 2025.

That's significant, since packaging continues to grow despite increasing calls for harsher regulations on it because of concerns of chemical contamination from compounds such as bisphenol-A (BPA).

4. Automotive market fluctuations - Many plastics manufacturers rely on the automotive market for their profits by making plastic and fiberglass components for vehicles.

In part, in light of the trade wars, however, the U.S. automotive industry that so far has had a deceptively strong performance could finally begin to deflate slightly.

In fact, President Trump has directly threatened to impose auto tariffs in addition to the tariffs he has already placed on China and Mexico, major exporters to the U.S.

If the tariffs are enacted on Mexico, a huge manufacturer of U.S. auto parts, the industry will likely see a major and rapid deflation that also will have a negative affect on plastics manufacturers.

The fact that many economists expecting a global recession in 2020 may also play into the success of the plastics market in the coming year.

Given that information, investing in plastic-packaging manufacturers is safer than investing in automotive pastics manufacturers.

Sales Leads in the Plastics Industry

Interested in gathering more-specific data on plastics manufacturers? Check out IndustrySelect. Subscribers can collect up to 30 data points to help them identify and pre-qualify the best leads.

Profiles also include the names, titles and email addresses for hard-to-reach executive decision-makers, making it your go-to resource for complete data collection.

To learn more about what IndustrySelect can do for you, visit our website.

IndustrySelect

 

Download the
FREE eBook:
Surefire Email Marketing Campaigns Made Easy
Surefire Email Marketing Campaigns Made Easy
A must-have guide for sales, marketing, & business development executives!
Almost 90% of internet users check their email at least once a day and more than 59% of marketers say email is their biggest source of ROI. Email marketing is hands down the most effective way to promote your business, but how can you tap into this lucrative marketing technique? IndustrySelectís free eBook will introduce you to B-to-B email marketing. Expert advice to help you:
  • Build a surefire message in 5 easy steps
  • Learn the most effective methods for building a targeted email list
  • Explore how to execute and measure the success of your campaign
  • Access 11 powerful tools for getting the most out of your email campaigns



Instant download! Enter your information above for instant access to the eBook. Plus, receive a free subscription to IndustrySelect Insider.
Privacy Policy  |  License Agreement

© 2019 MNI

EZ Select® is now called IndustrySelect® — Please click here now to go to industryselect.com