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Plastic Resin Industry Insights
The U.S. plastic resin industry has experienced a significant rebound in demand over recent years, following a prolonged period of decline from 2010 to 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 need for plastic resins in fields such as paints and coatings, as well as the electrical and electronics sector. As a viscous chemical liquid, resins are essential in numerous everyday products, including varnishes, plastics, and adhesives. If you're curious about the future of the plastic resin industry, this article will provide valuable insights.
**Plastic Resin Industry by Numbers**
Understanding the growth of the plastic resin industry becomes clearer when looking at key statistics. According to a report by the American Chemistry Council (ACC), 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 hit 50.00 billion pounds, reflecting a 6.5% rise in production capacity. Sales of major resins during that period were 7.3 billion pounds, showing a 9.3% increase from the previous year. The captive use of these resins was approximately 49.6 billion pounds in July 2018, up 6.6% compared to the same month in 2017.
Another report from Statista highlights that in 2017, total plastic resin production reached 113 billion pounds. Thermoset polymers, particularly epoxy, accounted for around 16.8 billion pounds of that output. Popular thermoset materials 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**
Based on reports from multiple sources, here are some key projections for popular resins:
- **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 USD 59 billion by 2023. HDPE offers a better strength-to-density ratio than LDPE, with minimal branching in its polymer chains, making it ideal for applications like insulation and piping. LLDPE, on the other hand, is commonly used in food and non-food packaging due to its flexibility and durability.
- **Polypropylene:** According to ResearchAndMarkets.com, the global polypropylene market is projected 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 automotive parts, carpets, toys, and personal care products.
- **Polyethylene Terephthalate (PET):** The global PET packaging market is expected to reach USD 74.32 billion in 2021, with a consumption volume of 21.1 million tonnes. PET is highly valued for its moisture and gas barrier properties, making it a top choice for food packaging. It's also used in textiles and engineering applications.
- **Acrylonitrile-Butadiene-Styrene (ABS) Resins:** The ABS resin market is forecasted to reach USD 30 billion by 2022. Known for its impact resistance and thermal stability, ABS is widely used in electronic components, appliance parts, and automotive 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% through 2025. These materials are increasingly replacing metal parts due to their lightweight and durable properties. Nylon 6 is ideal for low-temperature applications, while Nylon 66 is suitable for high-temperature environments.
Despite regulatory challenges, the demand for plastic resins continues to grow due to their versatility and performance. If you're looking for a reliable supplier of these resins, Mid Continent Plastics is one of the leading providers in the U.S., offering a wide range of products in various quantities.