U.S. Plastics Market Size, Share & Trends Analysis Report By Product (Polyethylene, Polypropylene, Polyurethane, Polyvinyl Chloride, Polystyrene, And Others), By End-use, By Application,- Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

U.S. Plastics Market Size and Research

The U.S. plastics market size was exhibited at USD 90.55 billion in 2023 and is projected to hit around USD 130.22 billion by 2033, growing at a CAGR of 3.7% during the forecast period 2024 to 2033.

U.S. Plastics Market Size 2024 To 2033

U.S. Plastics Market Key Takeaways:

  • The polyethylene (PE) segment dominated the market with a revenue share of 23% in 2023.
  • The epoxy polymers segment is estimated to witness fastest CAGR of 7.65% in the forecast period.
  • The packaging segment dominated the market with the highest revenue share in 2023.
  • The agriculture segment is expected to witness fastest CAGR of 6.80% during the forecast period.
  • The injection molding segment dominated the U.S. plastics market with a revenue share of 43% in 2023.
  • The roto molding segment is expected to witness the fastest CAGR during the forecast period.

Report Scope of U.S. Plastics Market

 Report Coverage  Details
Market Size in 2024 USD 93.90 Billion
Market Size by 2033 USD 130.22 Billion
Growth Rate From 2024 to 2033 CAGR of 3.7%
Base Year 2023
Forecast Period 2024-2033
Segments Covered Product, End-use, Application
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Key Companies Profiled ExxonMobil Chemical; Dow, Inc.; Chevron Phillips Chemical Co., LLC; Westlake Chemical; DuPont; Celanese Corporation; Eastman Chemical Company; Huntsman International LLC; RTP Company

The growth of the market is fuelled by the increasing use of plastics in various end-use industries such as automotive, packaging and manufacturing industries. The rising demand for light-weight vehicles is promoting the usage of different types of plastics such as polypropylene in the automotive industry. Usage of plastic products in sectors such as recreational toys, packaging, containers and others is expected to add to the market growth during the forecast period.

The rising demand of packaging plastics in e-commerce industry is another factor driving the market for plastics in the U.S. The population of U.S. prefer to shop from online retail stores over brick-and-mortar stores. These shopping patterns have severely impacted the e-commerce industry in the country. Surge in U.S. e-commerce industry is increasing the demand for packaging materials further fuelling the country’s plastic market.

Another driving factor behind the plastics industry in U.S. is the robust manufacturing sector in the country. Polystyrene (a type of plastic) is widely used in manufacturing of items such as toys, electronics, and disposable utensils. A constant requirement of these items has been a stabilizing force for the market. Polypropylene (PP) finds its wide usage in the automotive industry for parts such as bumpers facias, instrumental panels, and door trims. This is due the high durability and chemical resistance properties of PP. In the past few years, U.S. automotive industry has seen rise in demands for light weight vehicles due to their high fuel efficiency. With enough R&D, the automotive industry has been successful in creating light weight vehicles using polypropylene, without compromising the safety of the vehicle.

U.S. Plastics Market By Product Insights

The polyethylene (PE) segment dominated the market with a revenue share of 23% in 2023. The easy availability and affordability of PE are aiding the segment growth. Regular innovations and new developments of additives for polyethylene manufacture are expected to enhance its performance, further opening new market avenues for PE over the forecast period. Polyethylene is widely used in CNC (computer numerical control) machines and 3D printers. High density PE provides high moisture barrier and cost-effectiveness to the end product. However, low density polyethylene is preferred over high intensity polyethylene due to properties such as high elongation, heat seal ability, and softness.

The epoxy polymers segment is estimated to witness fastest CAGR of 7.65% in the forecast period. Epoxy polymers are widely used in medical industry for the manufacturing of disposables and devices such as catheters and surgical equipment. The epoxy polymer finds its applications in industries such as aerospace, adhesives, automotive, electronics, industrial coatings, and constructions. The growth of end-use industries is expected to further boost the growth of epoxy polymers segment in the U.S. plastics market.

U.S. Plastics Market By End-use Insights

The packaging segment dominated the market with the highest revenue share in 2023. The rise in food and beverage industry in the U.S. is fuelling the growth of packaging plastics. Furthermore, the expansion of industries such as personal care, medicines, and e-retail are driving the demand for plastic packaging. Plastics are widely used in the packaging industry due to their high performance, affordable prices, and longer durability as compared to other packaging. Many varieties of plastics are designed to withstand extreme environmental conditions making them an ideal choice for packaging.

The agriculture segment is expected to witness fastest CAGR of 6.80% during the forecast period. Usage of polyethylene is expected to grow in agriculture industry due to the surge in demand for drippers, microtubes, nozzles, and emission pipes in irrigation systems. The increased use of plastic tools and gears in agriculture is seeing boost in crop productivity, improved food quality, and reduced environmental imprints. In agriculture, plastic is also used in form of sheets and films to decrease moisture loss and regulate soil temperature. In addition, pesticide emission in atmosphere or ground water is also reduced as it sticks to the plastic sheets. This results in better yields both in quality and quantity. The rise in health awareness and clean eating habits amongst the U.S. population and adoption of vegan lifestyle is expected to fuel the agricultural industry further boosting the plastic demands in agriculture.

U.S. Plastics Market By Application Insights

The injection molding segment dominated the U.S. plastics market with a revenue share of 43% in 2023.  Injection molding process requires use of machines, plastic raw materials and molds. This method is commonly used in the production of automobile parts, medical devices, plastic containers and others. Thus, the growth in these industries is expected to boost the injection molding segment further fuelling the growth of the U.S. plastics market. A significant acceleration is expected in the popularity of heat and pressure resistant materials. This is due to the extensive infrastructure development activities further increasing the usage of plastic injection molding equipment by manufacturers of building products.

The roto molding segment is expected to witness the fastest CAGR during the forecast period. The roto molding or rotational molding technique is ideal for creating products which are hollow at the centre. The technique is widely utilized in construction activities due to its durable nature. As compared to other molding methods, roto molding allows more design freedom, making it a top choice amongst other molding methods. Construction is one of the major contributors in the U.S. economy which is expected to further fuel the demand of roto molding segment.

U.S. Plastics Market Recent Developments

  • In February 2023, Chevron Phillips Chemical Co., LLC has signed a long-term commercial contract with Nexus Circular for the supply of a significant volume of plastic feedstock from an advanced recycling facility to produce Marlex Anew Circular Polyethylene.

  • In May 2023, DuPont entered into a definitive agreement to acquire Spectrum Plastics Group (Spectrum) from AEA investors. The combination is expected to provide highly engineered solutions for critical healthcare applications.

  • In September 2023, Huntsman International LLC developedSMARTLITE O, a liquid TPU (thermoplastic polyurethane) for the footwear industry.  The innovative product enables manufacturers to produce high-performance midsoles best suited for sports and athleisure footwear.

  • In November 2023, Eastman Chemical Company partnered with Ostium Group to integrate sustainable packaging solutions for medical devices. The motive of this collaboration is to incorporate Eastman’s sustainable packaging solution, Eastar 6763 Renew copolyester, into Ostium Group’s innovative CILLAR Acetabular and Femoral kits for total hip replacements.

Some of the prominent players in the U.S. plastics market include:

  • ExxonMobil Chemical
  • Dow, Inc.
  • Chevron Phillips Chemical Co., LLC
  • Westlake Chemical
  • DuPont
  • Celanese Corporation
  • Eastman Chemical Company
  • Huntsman International LLC
  • RTP Company

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the U.S. plastics market

Product

  • Polyethylene (PE)
  • Polypropylene (PP)
  • Polyurethane (PU)
  • Polyvinyl Chloride (PVC)
  • Polyethylene Terephthalate (PET)
  • Polystyrene (PS)
  • Acrylonitrile Butadiene Styrene (ABS)
  • Polybutylene Terephthalate (PBT)
  • Polyphenylene Oxide (PPO)
  • Epoxy Polymers
  • Liquid Crystal Polymers (LCP)
  • Polyether Ether Ketone (PEEK)
  • Polycarbonate (PC)
  • Polyamide (PA)
  • Polysulfone (PSU)
  • Polyphenylsulfone (PPSU)
  • Others

End-use

  • Packaging
  • Building & construction
  • Electrical & electronics
  • Automotive
  • Medical devices
  • Agriculture
  • Furniture & bedding
  • Consumer goods
  • Utility
  • Others

Application

  • Injection Molding
  • Blow Molding
  • Roto Molding
  • Compression Molding
  • Casting
  • Thermoforming
  • Extrusion
  • Calendering
  • Others

Frequently Asked Questions

The U.S. plastics market size was exhibited at USD 90.55 billion in 2023 and is projected to hit around USD 130.22 billion by 2033, growing at a CAGR of 3.7% during the forecast period 2024 to 2033.

The U.S. plastics market is expected to grow at a compound annual growth rate of 3.7% from 2024 to 2033 to reach USD 130.22 billion by 2033.

The polyethylene (PE) segment emerged largest with a value share above 23% in 2023 due to affordability of PE are aiding growth along with enhanced properties.

The key market player in the U.S. plastics market includes ExxonMobil Chemical; Dow, Inc.; Chevron Phillips Chemical Co., LLC; Westlake Chemical; DuPont; Celanese Corporation; Eastman Chemical Company; Huntsman International LLC; and RTP Company.

The key factors that are driving the U.S. plastics market include, increasing use of plastics in various end-use industries such as automotive, packaging and manufacturing industries.

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope

1.2. Market Definition

1.3. Information Procurement

1.3.1. Purchased Database

1.3.2. Internal Database

1.3.3. Secondary Sources & Third-Party Perspectives

1.3.4. Primary Research

1.4. Information Analysis

1.4.1. Data Analysis Models

1.5. Market Formulation & Data Visualization

1.6. Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Insights

2.2. Segment Outlook

2.3. Competitive Landscape Snapshot

Chapter 3. U.S. Plastics Market Variables, Trends & Scope

3.1 Market Lineage Outlook

3.1.1 Market Penetration & Growth Prospects Mapping

3.2 Penetration & Growth Prospect Mapping

3.3 Industry Value Chain Analysis

3.3.1 Raw Material Trends

3.3.2 Average Selling Price Analysis

3.4 Regulatory Framework

3.5 Market Dynamics

3.5.1 Market Driver Analysis

3.5.2 Market Restraint Analysis

3.5.3 Industry Challenges

3.5.4 Industry Opportunities

3.6 U.S. Plastics Market- Business Environment Analysis

3.6.1 Industry Analysis- Porter’s Five Force Analysis

3.6.2 Industry Analysis- Macroeconomic Factors Analysis

Chapter 4 U.S. Plastics Market: Product Estimates & Trend Analysis

4.1 Product Movement Analysis & Market Share, 2024-2033

4.2 U.S. Plastics Market Estimates & Forecast, By Product, 2021 to 2033 (Kilotons) (USD Million)

4.3 Polyethylene (PE)

4.3.1 Market Estimates and Forecasts, 2021 - 2033

4.4 Polypropylene (PP)

4.4.1 Market Estimates and Forecasts, 2021 - 2033

4.5 Polyurethane (PU)

4.5.1 Market Estimates and Forecasts, 2021 - 2033

4.6 Polyvinyl Chloride (PVC)

4.6.1 Market Estimates and Forecasts, 2021 - 2033

4.7 Polyethylene terephthalate (PET)

4.7.1 Market Estimates and Forecasts, 2021 - 2033

4.8 Polystyrene (PS)

4.8.1 Market Estimates and Forecasts, 2021 - 2033

4.9 Acrylonitrile butadiene styrene (ABS)

4.9.1 Market Estimates and Forecasts, 2021 - 2033

4.10 Polybutylene terephthalate (PBT)

4.10.1 Market Estimates and Forecasts, 2021 - 2033

4.11 Polyphenylene Oxide (PPO)

4.11.1 Market Estimates and Forecasts, 2021 - 2033

4.12 Epoxy Polymers

4.12.1 Market Estimates and Forecasts, 2021 - 2033

4.13 Liquid Crystal Polymers (LCP)

4.13.1 Market Estimates and Forecasts, 2021 - 2033

4.14 Polyether ether ketone (PEEK)

4.14.1 Market Estimates and Forecasts, 2021 - 2033

4.15 Polycarbonate (PC)

4.15.1 Market Estimates and Forecasts, 2021 - 2033

4.16 Polyamide (PA)

4.16.1 Market Estimates and Forecasts, 2021 - 2033

4.17 Polysulfone (PSU)

4.17.1 Market Estimates and Forecasts, 2021 - 2033

4.18 Polyphenylsulfone (PPSU)

4.18.1 Market Estimates and Forecasts, 2021 - 2033

4.19 Others

4.19.1 Market Estimates and Forecasts, 2021 - 2033

Chapter 5. U.S. Plastics Market: End-use Estimates & Trend Analysis

5.1 End-use Analysis & Market Share, 2024-2033

5.2 Packaging

5.2.1 U.S. Plastics Market Estimates & Forecasts, in Packaging 2021 - 2033

5.3 Construction

5.3.1 U.S. Plastics Market Estimates & Forecasts, in Construction 2021 - 2033

5.4 Electricals & Electronics

5.4.1 U.S. Plastics Market Estimates & Forecasts, in Electricals & Electronics 2021 - 2033

5.5 Automotive

5.5.1 U.S. Plastics Market Estimates & Forecasts, in Automotive 2021 - 2033

5.6 Medical Devices

5.6.1 U.S. Plastics Market Estimates & Forecasts, in Medical Devices 2021 - 2033

5.7 Agriculture

5.7.1 U.S. Plastics Market Estimates & Forecasts, in Agriculture 2021 - 2033

5.8 Furniture & Bedding

5.8.1 U.S. Plastics Market Estimates & Forecasts, in Furniture & Bedding 2021 - 2033

5.9 Consumer Goods

5.9.1 U.S. Plastics Market Estimates & Forecasts, in Consumer Goods 2021 - 2033

5.10 Utility

5.10.1 U.S. Plastics Market Estimates & Forecasts, in Utility 2021 - 2033

5.11 Others

5.11.1 U.S. Plastics Market Estimates & Forecasts, in Utility 2021 - 2033

Chapter 6. U.S. Plastics Market: Application Estimates & Trend Analysis

6.1 Application Analysis & Market Share, 2024-2033

6.2 Injection Molding

6.2.1 U.S. Plastics Market Estimates & Forecasts, in Injection Molding 2021 - 2033

6.3 Blow Molding

6.3.1 U.S. Plastics Market Estimates and Forecasts, in Blow Molding 2021 - 2033

6.4 Roto Molding

6.4.1 U.S. Plastics Market Estimates and Forecasts, in Roto Molding 2021 - 2033

6.5 Compression Molding

6.5.1 U.S. Plastics Market Estimates and Forecasts, in Compression Molding 2021 - 2033

6.6 Casting

6.6.1 U.S. Plastics Market Estimates and Forecasts, in Casting 2021 - 2033

6.7 Themroforming

6.7.1 U.S. Plastics Market Estimates and Forecasts, in Thermoforming 2021 - 2033

6.8 Extrusion

6.8.1 U.S. Plastics Market Estimates and Forecasts, in Extrusion 2021 - 2033

6.9 Calendering

6.9.1 U.S. Plastics Market Estimates and Forecasts, in Calendering 2021 - 2033

6.10 Others

6.10.1 U.S. Plastics Market Estimates and Forecasts, 2021 - 2033

Chapter 7. U.S. Plastics Market - Competitive Landscape

7.1 Recent Developments & Impact Analysis, By Key Market Participants

7.2 Company Categorization

7.3 Company Market Share/Position Analysis, 2024

7.4 Company Heat Map Analysis

7.5 Strategy Mapping

7.5.1 Expansion

7.5.2 Mergers & Acquisition

7.5.3 Partnerships & Collaborations

7.5.4 New Process Launches

7.5.5 Research And Development

7.6 Company Profiles (Business Overview, Financial Performance, Product Benchmarking)

7.6.1 ExxonMobil Chemical

7.6.2 Dow, Inc.

7.6.3 Chevron Phillips Chemical Co., LLC

7.6.4 Westlake Chemical

7.6.5 DuPont

7.6.6 Celanese Corporation

7.6.7 Eastman Chemical Company

7.6.8 Huntsman International LLC

7.6.9 RTP Company

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