Domestic demand for plastics industry products grew at a record-breaking pace in 2013, according to a report released by the Society of Plastics Industry (SPI). The U.S. plastics manufacturing industry is a $374 billion sector that employs 900,000 with representation in each of the nation's 50 states.
The 2014 Global Business Trends report, which will be discussed in detail during a webinar Dec. 10, 2014, indicates that the domestic demand for plastics industry goods grew 6.5 percent, from $251 billion in 2012 to $267 billion in 2013. The previous high was $262.6 billion in 2006.
"Surpassing previous consumption levels confirms that the U.S. plastics manufacturing industry is a major player in the world's economy," said William Carteaux, SPI's president and CEO. "While U.S. exports of raw materials continue to show profitability thanks in part to increases in shale gas supplies, domestic demand holds the key to a wealth of job growth and economic benefits for firms that invest in the nation's manufacturing renaissance."