Plastic Resin Industry Insights
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The plastic resin industry in the United States has experienced a notable recovery in demand over recent years, following a prolonged period of decline between 2010 and 2013. This resurgence is primarily driven by downstream manufacturers, Original Equipment Manufacturers (OEMs), and the ongoing construction boom. Additionally, there has been a growing interest in plastic resins across sectors such as paints and coatings, as well as the electrical and electronics industries. If you're curious about what the future holds for this industry, keep reading to discover more.

Plastic resins are viscous chemical liquids that play a crucial role in numerous everyday products. They are commonly used in varnishes, plastics, adhesives, and more. Understanding the current state and future direction of the plastic resin market can be valuable for businesses and investors alike. Let’s take a closer look at some key statistics and projections shaping this industry.

Plastic Resin Industry by Numbers

Here are some key figures that illustrate the growth and trends within the U.S. plastic resin industry:

  • According to 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 amounted to 50.00 billion pounds, reflecting a 6.5% rise in production capacity over the same period in 2017. Sales of major resins hit 7.3 billion pounds in July 2018, up 9.3% from the previous year. Captive use of these resins was approximately 49.6 billion pounds in July 2018, an increase of 6.6% compared to the same month in 2017.
  • Statista reports that in 2017, total plastic resin production stood at 113 billion pounds. Thermoset polymers, including epoxy, accounted for around 16.8 billion pounds of that total. 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 construction, packaging, and consumer electronics.

Key Projections on Popular Resins

Based on various industry reports, here are some insights into the future of key plastic 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 projected 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 fewer branches 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 used in food and non-food packaging, as well as extrusion coating applications due to its flexibility and low branching.
    • Polypropylene: According to ResearchAndMarkets.com, the global polypropylene market is expected to reach $126.89 billion by 2026. Its increasing use in the automotive sector is driving this growth. Polypropylene is known for its flexibility, chemical resistance, and thermal stability, making it ideal for use in cars, carpets, toys, and cosmetics.
    • Polyethylene Terephthalate (PET): The global PET packaging market is expected to reach USD 74.32 billion in 2021, with consumption reaching 21.1 million tonnes. PET is valued for its excellent moisture and gas barrier properties, making it ideal 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 toughness, heat resistance, and ease of processing, ABS is widely used in electronics, appliances, and automotive parts. Its ability to withstand low temperatures makes it a popular choice for a wide range of 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 components due to their durability, lightweight, and strength. Nylon 6 is ideal for low-temperature applications, while Nylon 66 is preferred for high-temperature uses like battery modules and industrial fasteners.

Despite regulatory challenges, the demand for plastic resins continues to grow due to their versatility and performance. Whether you're looking for high-quality resins for your business or seeking a reliable supplier, Mid Continent Plastics is one of the leading providers of plastic resins in the U.S., offering a wide range of products in various quantities.

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