The US plastic resin industry has experienced a significant rebound in demand over the past few years, following a prolonged downturn between 2010 and 2013. This growth is largely driven by downstream manufacturers, Original Equipment Manufacturers (OEMs), and the construction sector. Additionally, recent years have seen a surge in demand for plastic resins across industries such as paints and coatings, as well as electrical and electronics. If you're curious about what the future holds for this dynamic market, keep reading to discover more.

Plastic Resin Industry by Numbers

Here are some key figures that highlight the impressive growth of the plastic resin industry in recent years.

  • According to a report by the American Chemistry Council (ACC), production of major plastic resins reached 7.6 billion pounds in July 2018—an increase of approximately 8.3% compared to July 2017. From January to July 2018, total production amounted to 50.00 billion pounds, marking a 6.5% rise compared to the same period in 2017. Sales of major resins during July 2018 totaled 7.3 billion pounds, reflecting a 9.3% increase from the previous year. The report also noted that captive use of these resins was around 49.6 billion pounds, showing a 6.6% increase from July 2017.

  • A study by Statista reported that plastic resin production in 2017 reached 113 billion pounds. Among these, thermoset polymers like epoxy contributed approximately 16.8 billion pounds. Popular thermoset resins 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

Here are some key forecasts based on recent reports and market analyses:

    • 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 hit USD 59 billion by 2023.
      • Cross-linked HDPE offers a better strength-to-density ratio than LDPE. Its low branching gives it high density, rigidity, and reduced permeability. HDPE compounds are often used as an alternative to plastic insulation, PVC, and copper piping.
      • LLDPE is a type of LDPE with short polymer chains and less branching. It’s commonly used in food and non-food packaging films, as well as extrusion coating applications.

    • Polypropylene: According to a report by ResearchAndMarkets.com, the global polypropylene market is projected to reach $126.89 billion by 2026. The automotive industry is a major driver of this growth. Polypropylene is a versatile thermoplastic known for its flexibility, chemical resistance, and performance at high temperatures. It is widely used in automotive parts, carpets, toys, and cosmetics.

    • Polyethylene Terephthalate (PET): Market reports indicate that the global PET packaging market will reach USD 74.32 billion by 2021, with a consumption volume of 21.1 million tonnes. PET is valued for its excellent moisture and gas barrier properties, making it ideal for food packaging. It's used in bottles, jars, and containers for products like jams, peanut butter, and beverages. PET resins are also used in textiles and engineering applications.

    • Acrylonitrile-Butadiene-Styrene (ABS) Resins: The ABS resin market is expected to reach USD 30 billion by 2022. As one of the most widely used thermoplastics, ABS combines good impact resistance, thermal stability, and chemical resistance. It is popular in the manufacturing of electronic components, appliance parts, and automotive elements. Its ability to perform well at low temperatures makes it highly desirable in many industrial applications.

    • Nylon 6 & 66: The Nylon 6 & 66 market was valued at USD 24.4 billion in 2016 and is expected to grow at a CAGR of 6.1% from 2017 to 2025. These materials are increasingly replacing metal parts due to their durability, lightweight, and strength. Nylon 6 is suitable for low-temperature processing, while Nylon 66 is ideal for high-temperature environments. They are used in automotive components, circuit breakers, firearms, battery modules, and more.

Despite increasing environmental regulations, the demand for plastic resins continues to grow because of their versatility and cost-effectiveness. If you’re looking for a reliable supplier of high-quality resins, Mid Continent Plastics is a top choice in the U.S. They offer a wide range of resins in various quantities to meet different industrial needs.

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