"Innovative Market Solutions to Help Businesses Make Informed Decisions"

U.S. Plastics Market Size, Share & COVID-19 Impact Analysis, By Type (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Acrylonitrile Butadiene Styrene, Polyamide, Polycarbonate, Polyurethane, Polystyrene, and Others), By End-use Industry (Packaging, Automotive & Transportation, Infrastructure & Construction, Consumer Goods/Lifestyle, Healthcare & Pharmaceutical, Electrical & Electronics, Textile, and Others), and Country Forecast, 2023-2030

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI108752

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The U.S. plastics market size was worth USD 61.91 billion in 2022 and is projected to grow at a CAGR of 4.2% during the forecast period.


Plastic, a widely used polymer, finds extensive application across various industries for manufacturing products ranging from dashboards and blood bags to paper clips. The growth of the plastics market is closely tied to the increasing utilization of plastic-based components and assemblies in the automotive sector. In recent years, the U.S. has invested billions of dollars in automating its automotive & transportation, healthcare, and pharmaceutical industries, contributing to the expansion of plastic-based products. These activities, along with the burgeoning end-use industries, are anticipated to elevate the U.S.'s share in the global market.


However, in the aftermath of the COVID-19 pandemic, the plastic industry experienced a significant decline in product demand. This downturn was a consequence of the temporary closure of key end-use industries such as automotive, consumer goods, and infrastructure.


LATEST TRENDS


Increasing Demand for Engineering Plastics from Automotive Industry is the Prominent Trend


The demand for engineering plastic materials is gradually increasing in the country due to the surge in EVs and HEVs consumption. The automotive industry extensively employs various types of plastic to manufacture e-vehicles, leveraging their versatility, ease of manufacturing, moldability, lightweight nature, waterproof properties, and cost-effectiveness. Consequently, the rising consumption of e-vehicles has generated significant opportunities for both existing and new plastic manufacturers.


DRIVING FACTORS


Increasing Packaging Demand from E-Commerce Industry to Drive Market Growth


The U.S. hosts numerous e-commerce players collaborating across diverse industries to deliver and ship consumer goods and commercial products. This surge in activity has presented an opportunity for the packaging industry, where materials such as plastic wraps, polybags, and microfilms are extensively employed for product shipment.


Furthermore, plastic pallets find application in warehouses for storing hazardous chemical containers and boxes. The utilization of plastic products across various end-use industries is anticipated to fuel the U.S. plastics market growth.


RESTRAINING FACTORS


Imposed Regulations on Product Usage May Hinder Market Growth


Growing environmental concerns within the country are anticipated to impede market growth. The U.S. has implemented bans on plastic bag use across California, Delaware, Hawaii, Maine, New York, Oregon, and Vermont. Additionally, the U.S. government has instructed plastic resin manufacturing companies to cease producing single-use plastics. Consequently, these regulations are expected to hinder plastic consumption across various end-use industries.


SEGMENTATION


By Type Analysis


Based on type, the market is segmented into polyethylene, polyethylene terephthalate, polyvinyl chloride, polypropylene, polyamide, acrylonitrile butadiene styrene, polycarbonate, polyurethane, polystyrene, and others.


The polyethylene segment accounted for the leading U.S. plastics market share in 2022. The segment's growth is linked to increasing demand from applications such as automotive and packaging. Major manufacturers utilize polymers for packaging due to their durability and ability to act as a moisture barrier, factors expected to drive segment growth.


The escalating consumption of plastic products such as pipes, bags, and automotive components is projected to bolster the polyethylene terephthalate, polyvinyl chloride, polypropylene, polyamide, acrylonitrile butadiene styrene, polycarbonate, polyurethane, polystyrene, and other segments. Plastic offers diverse properties such as a high elasticity modulus, electrical insulation, chemical resistance, and thermal insulation.


By End-use Industry Analysis


Based on end-use industry, the market is segmented into automotive & transportation, packaging, consumer goods/lifestyle, infrastructure & construction, healthcare & pharmaceutical, electrical & electronics, textile, and others.


The packaging segment holds the largest share in the U.S. market. Anticipated growth in this segment is attributed to the surging e-commerce industry and the emerging trend of packaged food.


In recent years, there has been a notable increase in demand for EVs and HEVs. Plastic plays a pivotal role in automotive components such as dashboards, seat covers, indicators, and more, offering strength and manufacturing flexibility through injection-molded production techniques. This escalating demand for plastic in EVs is expected to drive growth in the automotive & transportation segment, further propelling the U.S. market.


Additionally, the consumption of plastic products in various construction projects and consumer electronics is expected to boost the growth of the infrastructure & construction and electrical & electronics segments, respectively. Plastics used to produce items such as strips, gloves, blood bags, syringes, and prosthetics deploy a variety of polymers.


To gain extensive insights into the market, Request for Customization


KEY INDUSTRY PLAYERS


Within the competitive landscape, the market showcases the presence of both emerging and established plastic companies. Major players such as LyondellBasell Industries N.V., ExxonMobil Chemical, INEOS, and SABIC dominate the industry. Competition among industry players predominantly revolves around the characteristics and pricing of their products. Companies are concentrating on acquisitions, product innovation, collaborations, and social marketing to maintain their competitive edge.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • April 2023: LyondellBasell announced the utilization of its renewable CirculenRenew polymer in the medical device industry. This bio-plastic grade is certified by ISCC PLUS and provides a certificate of mass balance, enabling the adoption of bio-based raw materials into final products.

  • April 2022: ExxonMobil launched Exceed S, a Performance Polyethylene (PE) resin designed to offer toughness and stiffness while being easy to process. The new PE is expected to provide the company with lucrative opportunities to simplify film designs and formulations, enhance conversion efficiency, and improve packaging durability and film performance compared to its competitors.


REPORT COVERAGE


An Infographic Representation of U.S. Plastics Market

To get information on various segments, share your queries with us



The study report thoroughly examines key factors such as leading companies, end-use industries, and products. It also provides market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market growth in recent years and the factors listed above. It examines the industry's newest market dynamics and opportunities and historical data and revenue growth estimates at the country level.


Report Scope & Segmentation













































ATTRIBUTE



DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 4.2% from 2023 to 2030



Unit



Value (USD Billion), Volume (Million Tons)



Segmentation



By Type



  • Polyethylene

  • Polypropylene

  • Polyethylene Terephthalate

  • Polyvinyl Chloride

  • Acrylonitrile Butadiene Styrene

  • Polyamide

  • Polycarbonate

  • Polyurethane

  • Polystyrene

  • Others



By End-use Industry



  • Packaging

  • Automotive & Transportation

  • Infrastructure & Construction

  • Consumer Goods/Lifestyle

  • Healthcare & Pharmaceuticals

  • Electrical & Electronics

  • Textile

  • Others






Frequently Asked Questions

Fortune Business Insights says the U.S. market was worth USD 61.91 billion in 2022.

The market is expected to exhibit a CAGR of 4.2% during the forecast period (2023-2030).

By type, the polyethylene segment accounted for the largest market share in 2022.

LyondellBasell Industries N.V., ExxonMobil Chemical, INEOS, and SABIC are the top players in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2030
  • 2022
  • 2019-2021
  • 120

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X