The plastic resin industry in the United States has experienced a significant upswing in demand over recent years, following a prolonged period of decline between 2010 and 2013. This resurgence is largely driven by increased activity in downstream manufacturing sectors, including Original Equipment Manufacturers (OEMs) and the construction industry. Additionally, there has been a growing interest in plastic resins across various fields such as paints and coatings, as well as the electrical and electronics sector. Have you ever wondered what the future holds for this vital industry? Keep reading to find out more.
Plastic Resin Industry by Numbers
Understanding the growth of the plastic resin industry can be made easier through key statistics that highlight its development over the past few years.
- According to a report from the American Chemistry Council (ACC), the production of major plastic resins reached 7.6 billion pounds in July 2018, reflecting an 8.3% increase compared to the same month in 2017. From January to July 2018, total production amounted to 50.00 billion pounds, showing a 6.5% rise in production capacity when compared to the same period in 2017. Sales of major plastic resins totaled 7.3 billion pounds in July 2018, marking a 9.3% increase from the previous year. The report also noted that captive use of these resins reached 49.6 billion pounds in July 2018, a 6.6% increase compared to the same time in 2017.
Another study by Statista highlights that plastic resin production in 2017 totaled 113 billion pounds. Among these, thermoset polymers such as epoxy contributed approximately 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 industries like construction, packaging, and consumer electronics.
Key Projections on Popular Resins
Here are some key projections based on reports from various industry sources.
-
- Polyethylene: There has been a surge in 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 surpass USD 59 billion by 2023.
- Cross-linked HDPE offers a higher strength-to-density ratio than LDPE. Its minimal branching allows for greater rigidity and lower permeability, making it ideal for applications such as insulation, PVC replacement, and copper tube alternatives.
- LLDPE, a variant of LDPE, features short polymer chains and lacks long-chain branching. It is commonly used in food and non-food packaging films and extrusion coating applications.
-
- Polypropylene: According to ResearchAndMarkets.com, the global polypropylene market is expected to reach $126.89 billion by 2026. The automotive industry is one of the main drivers of this growth. Polypropylene, or polypropene, 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 personal care products.
-
- Polyethylene Terephthalate (PET): Market reports suggest 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 favored for its excellent moisture and gas barrier properties, making it ideal for food packaging. It is commonly used in beverage bottles, jars for jams, and peanut butter containers, as well as in textiles and engineering applications.
-
- 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 offers a unique combination of impact, thermal, and chemical resistance. It is particularly popular in the production of electronic components, appliance parts, and automotive applications due to its ease of processing and durability at low temperatures.
-
- 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 resins are increasingly replacing metal parts due to their strength, lightweight, and durability. Nylon 6 is suitable for low-temperature processing, while Nylon 66 is ideal for high-temperature applications. They are used in automotive components, circuit breakers, firearms, battery modules, and recreational equipment.
Despite increasing environmental regulations, the demand for plastic resins continues to rise due to 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. The company provides a wide range of resins in different quantities to meet diverse industrial needs.
![]()
Nickel Alloy Straps
Metal Straps,Industrial Nickel Alloy Straps,Corrosion-Resistant Nickel Alloy Straps,Durable Nickel Alloy Straps
Ningbo Boss Metal Material Co., Ltd. , https://www.boss-metal.com