U.S.: Plastic Packaging Market 2024

Plastic Packaging Market Size in the U.S.

The U.S. plastic packaging market shrank to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Plastic Packaging Production in the U.S.

In value terms, plastic packaging production declined modestly to $X in 2022. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Plastic packaging production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Plastic Packaging Exports

Exports from the U.S.

In 2022, after three years of decline, there was growth in overseas shipments of plastic packaging, when their volume increased by X% to X tons. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, plastic packaging exports rose notably to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Mexico (X tons) was the main destination for plastic packaging exports from the United States, with a X% share of total exports. Moreover, plastic packaging exports to Mexico exceeded the volume sent to the second major destination, Canada (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Mexico amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Japan (X% per year).

In value terms, the largest markets for plastic packaging exported from the United States were Mexico ($X), Canada ($X) and Japan ($X), with a combined X% share of total exports.

Among the main countries of destination, Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average plastic packaging export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Packaging Imports

Imports into the U.S.

For the third consecutive year, the United States recorded growth in purchases abroad of plastic packaging, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, plastic packaging imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and Canada (X tons) were the main suppliers of plastic packaging imports to the United States, together accounting for X% of total imports. Taiwan (Chinese), Vietnam, India, Thailand, Malaysia, Germany and South Korea lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic packaging suppliers to the United States were China ($X), Canada ($X) and Mexico ($X), together comprising X% of total imports. Taiwan (Chinese), Thailand, Vietnam, South Korea, Malaysia, India and Germany lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastic packaging import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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