U.S.: Market for Plastics Materials And Resins 2024

Market Size for Plastics Materials And Resins in the U.S.

The U.S. plastics materials and resin market reduced to $X in 2022, falling by X% against the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Plastics materials and resin consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Plastics Materials And Resins in the U.S.

In value terms, plastics materials and resin production fell slightly 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 2017 when the production volume increased by X%. Plastics materials and resin production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Plastics Materials And Resins

Exports from the U.S.

In 2022, the amount of plastics materials and resins exported from the United States totaled X tons, rising by X% against the previous year's figure. The total export volume increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, plastics materials and resin exports skyrocketed to $X in 2022. The total export value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Mexico (X tons), Canada (X tons) and China (X tons) were the main destinations of plastics materials and resin exports from the United States, with a combined X% share of total exports. Belgium, Brazil, Malaysia, Colombia, India, Turkey, Singapore, Spain, Peru and South Korea lagged somewhat behind, together accounting for a further X%.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and China ($X) were the largest markets for plastics materials and resin exported from the United States worldwide, together comprising X% of total exports. Belgium, Brazil, Colombia, Singapore, India, South Korea, Turkey, Malaysia, Peru and Spain lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average plastics materials and resin export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics Materials And Resins

Imports into the U.S.

Plastics materials and resin imports into the United States reduced slightly to X tons in 2022, dropping by X% against 2021 figures. The total import volume increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then shrank modestly in the following year.

In value terms, plastics materials and resin imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2013 to 2022: its value increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Canada (X tons) constituted the largest plastics materials and resin supplier to the United States, with a X% share of total imports. Moreover, plastics materials and resin imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), fourfold. The third position in this ranking was held by South Korea (X tons), with a X% share.

From 2013 to 2022, the average annual growth rate of volume from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and South Korea (X% per year).

In value terms, Canada ($X) constituted the largest supplier of plastics materials and resins to the United States, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with an X% share of total imports. It was followed by Mexico, with a X% share.

From 2013 to 2022, the average annual growth rate of value from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Mexico (X% per year).

Import Prices by Country

The average plastics materials and resin import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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