U.S. plastics industry - statistics & facts
As global plastics production has increased, the United States has played a major role in the industry. Many of the world’s largest plastic manufacturers are based in the country, such as Dow Chemical and the ExxonMobil chemical division. In 2023, North America accounted for 17 percent of global plastic materials production.
Plastics production in the U.S. totaled 130 billion pounds in 2023. Of this amount, 113 million pounds were thermoplastic polymers such as Polyethylene terephthalate (PET). In 2022, such thermoplastic polymers were the most sought after polymers worldwide. Together with polypropylene, which accounted for a demand share of 24 percent, over 50 percent of market demand was made up of thermoplastics that year.
Being the third largest manufacturing industry in the country and providing over one million jobs, the plastics industry plays an important role in the U.S. economy. In 2023, almost 100 thousand people were employed in the manufacture of plastic and resin alone, figures which had been growing year-on-year since 2020. The market size of plastic and resin manufacturing industry in the U.S. fell slightly during the same period from a market value of 107 billion U.S. dollars in 2020 to 104 billion U.S. dollars in 2023.
The U.S. plastics industry is largely fueled by the country’s oil and gas sector. With the availability of domestically produced petrochemical feedstocks, the plastic industry could be considered to go hand in hand with the U.S. fossil fuels industry. Prior to being pushed out of cost-effectiveness as a result of the oil crisis in 2020, the U.S. shale oil and gas industry fueled what was dubbed the ‘U.S. shale advantage’, which led to billions of dollars in plastic industry investments. With the energy transition already underway, many oil companies such as ExxonMobil have been investing in petrochemical plants with the thought that as transportation demand for oil decreases, the demand for plastics will continue to grow, too.
Plastics production in the United States
Plastics production in the U.S. totaled 130 billion pounds in 2023. Of this amount, 113 million pounds were thermoplastic polymers such as Polyethylene terephthalate (PET). In 2022, such thermoplastic polymers were the most sought after polymers worldwide. Together with polypropylene, which accounted for a demand share of 24 percent, over 50 percent of market demand was made up of thermoplastics that year.
Plastics in the U.S. economy
Being the third largest manufacturing industry in the country and providing over one million jobs, the plastics industry plays an important role in the U.S. economy. In 2023, almost 100 thousand people were employed in the manufacture of plastic and resin alone, figures which had been growing year-on-year since 2020. The market size of plastic and resin manufacturing industry in the U.S. fell slightly during the same period from a market value of 107 billion U.S. dollars in 2020 to 104 billion U.S. dollars in 2023.
The future of U.S. plastics
The U.S. plastics industry is largely fueled by the country’s oil and gas sector. With the availability of domestically produced petrochemical feedstocks, the plastic industry could be considered to go hand in hand with the U.S. fossil fuels industry. Prior to being pushed out of cost-effectiveness as a result of the oil crisis in 2020, the U.S. shale oil and gas industry fueled what was dubbed the ‘U.S. shale advantage’, which led to billions of dollars in plastic industry investments. With the energy transition already underway, many oil companies such as ExxonMobil have been investing in petrochemical plants with the thought that as transportation demand for oil decreases, the demand for plastics will continue to grow, too.
