Plastic Resin Industry Insights

The U.S. plastic resin industry has experienced a notable resurgence in demand in recent years, following a prolonged period of decline between 2010 and 2013. This growth is largely driven by increased activity in downstream manufacturing sectors, including Original Equipment Manufacturers (OEMs) and the construction industry. Additionally, the demand for plastic resins has risen significantly in industries such as paints and coatings, as well as electrical and electronics. Whatâ€™s next for this evolving sector? Keep reading to find out.

Plastic Resin Industry by Numbers

Understanding the current state of the industry can provide valuable insights into its future direction. Here are some key figures that highlight the growth and trends in the U.S. plastic resin market.

According to the American Chemistry Council (ACC), the production of major plastic resins reached 7.6 billion pounds in July 2018â€”an increase of approximately 8.3% compared to July 2017. The total production from January to July 2018 was 50.00 billion pounds, marking a 6.5% rise in production capacity over the same period in 2017. Sales of major resins also saw a strong performance, reaching 7.3 billion pounds in July 2018, up by about 9.3% year-over-year. In addition, captive use of these resins totaled around 49.6 billion pounds during the same month, showing a 6.6% increase from the previous year.

Another report by Statista highlights that the total plastic resin production in 2017 amounted to 113 billion pounds. Among these, thermoset polymers like epoxy accounted for roughly 16.8 billion pounds. Popular thermoset polymers include nylon, PVC, high-density polyethylene, and polypropylene. The thermoset polymer industry is expected to grow by 1.6% in 2018 compared to 2017. These materials are widely used in sectors such as construction, packaging, and consumer electronics.

Key Projections on Popular Resins

Looking at the most commonly used resins, several key trends and forecasts stand out.

Polyethylene: There's a growing demand for cross-linked High-Density Polyethylene (HDPE) and Linear Low-Density Polyethylene (LLDPE). The global cross-linked HDPE market is expected to reach USD 7,863 million by 2022 and could climb to USD 59 billion by 2023. HDPE offers a better strength-to-density ratio than LDPE, with fewer branching points in its polymer chains, making it rigid and less permeable. It is often used as an alternative to plastic insulation, PVC, and copper piping. LLDPE, on the other hand, is known for its flexibility and is widely used in food and non-food packaging, as well as extrusion coating applications.

In the automotive and consumer goods industries, Polypropylene (PP) continues to gain traction. According to ResearchAndMarkets.com, the global polypropylene market is projected to reach $126.89 billion by 2026. Its excellent chemical resistance, flexibility, and thermal stability make it ideal for use in vehicles, carpets, toys, and even cosmetics and personal care products.

Polyethylene Terephthalate (PET): PET is another critical resin, especially in the packaging industry. Market reports suggest that the global PET packaging market will reach USD 74.32 billion in 2021, with a consumption volume of 21.1 million tonnes. PET is favored for its moisture and gas barrier properties, making it a top choice for food and beverage packaging. It is also used in textiles and engineering applications.

Acrylonitrile-Butadiene-Styrene (ABS): ABS resins are expected to reach a market value of USD 30 billion by 2022. Known for their impact resistance, thermal stability, and ease of processing, they are widely used in electronic components, appliance parts, and automotive applications. Their ability to perform well at low temperatures further boosts their appeal in various industrial settings.

Nylon 6 & 66: The Nylon 6 and 66 market was valued at USD 24.4 billion in 2016 and is expected to grow at a CAGR of 6.1% through 2025. These resins are increasingly replacing metal parts due to their durability, lightweight, and strength. Nylon 6 is ideal for low-temperature applications, while Nylon 66 is preferred for high-temperature environments. They are commonly used in automotive components, electrical devices, and recreational equipment.

Despite increasing regulatory scrutiny, the demand for these resins continues to grow, thanks to their versatility and performance benefits. If you're looking for a reliable supplier of high-quality plastic resins, Mid Continent Plastics is one of the leading providers in the U.S., offering a wide range of products in various quantities.

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