The U.S. plastic resin industry has experienced a notable recovery in recent years, following a prolonged period of decline between 2010 and 2013. This resurgence is largely driven by increased demand from downstream manufacturers, Original Equipment Manufacturers (OEMs), and the construction sector. Additionally, there has been a growing need for plastic resins in industries such as paints and coatings, as well as electrical and electronics. If you're curious about how this industry might evolve in the coming years, keep reading to discover more insights.
Plastic Resin Industry by Numbers
Understanding the growth trajectory of the plastic resin industry can be made easier through key statistics. Here are some figures that highlight the recent progress:
- According to the American Chemistry Council (ACC), the production of major plastic resins reached 7.6 billion pounds in July 2018—an 8.3% increase compared to July 2017. From January to July 2018, total production amounted to 50.00 billion pounds, showing a 6.5% rise in production capacity compared to the same period in 2017. Sales of major resins during this time hit 7.3 billion pounds, reflecting a 9.3% increase from the previous year. Furthermore, captive use of these resins was approximately 49.6 billion pounds in July 2018, marking a 6.6% increase over the same month in 2017.
Another report from Statista indicates that plastic resin production in 2017 totaled 113 billion pounds. Among these, thermoset polymers like epoxy contributed around 16.8 billion pounds. Popular thermoset materials include nylon, PVC, high-density polyethylene, and polypropylene resins. The thermoset polymer market is expected to grow by 1.6% in 2018 compared to 2017. These materials find widespread use in sectors such as construction, packaging, and consumer electronics.
Key Projections on Popular Resins
Based on reports from multiple sources, here are some important projections regarding popular resin types:
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- Polyethylene: There is a rising 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 hit USD 59 billion by 2023. HDPE offers a better strength-to-density ratio than LDPE due to its minimal branching, making it ideal for insulation, PVC replacement, and copper tube alternatives. LLDPE, with its short-chain structure, is commonly used in food and non-food packaging films and extrusion coating applications.
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- Polypropylene: ResearchAndMarkets.com forecasts the global polypropylene market to reach $126.89 billion by 2026. Its increasing use in the automotive industry is a major driver. Known for its flexibility and resistance to chemicals and heat, polypropylene is widely used in cars, carpets, toys, and even cosmetics. This versatile resin continues to gain popularity across multiple sectors.
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- Polyethylene Terephthalate (PET): Market reports suggest the global PET packaging market will reach USD 74.32 billion by 2021, with consumption reaching 21.1 million tonnes. PET’s excellent moisture and gas barrier properties make it ideal for food packaging, including drink bottles, jars for jams, and peanut butter. It is also widely used in textiles and engineering applications.
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- Acrylonitrile-Butadiene-Styrene (ABS) Resins: The ABS resin market is projected to reach USD 30 billion by 2022. As one of the most widely used thermoplastics, ABS combines chemical, thermal, and impact resistance, making it suitable for electronics, appliances, and automotive parts. Its low-temperature ductility and strength further boost its appeal in various industries.
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- 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% between 2017 and 2025. These resins are increasingly replacing metal parts due to their durability, lightweight, and strength. Nylon 6 is often used in automotive components and circuit breakers, while Nylon 66 is preferred for high-temperature applications such as battery modules and fasteners.
Despite stricter regulations on resin manufacturing, the demand for these materials continues to rise due to their versatility and performance benefits. If you're looking for a reliable supplier of high-quality resins, Mid Continent Plastics is a trusted name in the U.S. They offer a wide range of resins in different quantities to meet your needs.
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