U.S.: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in the U.S.

After two years of growth, the U.S. plastics in primary forms market decreased by X% to $X in 2023. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Plastics in primary forms consumption peaked at $X in 2022, and then dropped in the following year.

Production of Plastics in Primary Forms in the U.S.

In value terms, plastics in primary forms production declined to $X in 2023. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then dropped in the following year.

Exports of Plastics in Primary Forms

Exports from the U.S.

In 2023, overseas shipments of plastics in primary formses increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations 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 in primary forms exports declined to $X in 2023. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then fell in the following year.

Exports by Country

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

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Canada ($X) and China ($X) appeared to be the largest markets for plastics in primary forms exported from the United States worldwide, with a combined X% share of total exports. Belgium, Brazil, India, South Korea, Colombia, Singapore, Vietnam, Turkey, Malaysia and Peru lagged somewhat behind, together comprising a further X%.

Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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 in primary forms export price stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then fell notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2023, 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 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Plastics in Primary Forms

Imports into the U.S.

In 2023, approx. X tons of plastics in primary formses were imported into the United States; waning by X% on the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports stood at a somewhat lower figure.

In value terms, plastics in primary forms imports reduced remarkably to $X in 2023. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked at $X in 2022, and then declined significantly in the following year.

Imports by Country

In 2023, Canada (X tons) constituted the largest supplier of plastics in primary forms to the United States, with a X% share of total imports. Moreover, plastics in primary forms imports from Canada exceeded the figures recorded by the second-largest supplier, South Korea (X tons), fivefold. Mexico (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume 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).

In value terms, Canada ($X) constituted the largest supplier of plastics in primary formses to the United States, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and South Korea (X% per year).

Import Prices by Country

The average plastics in primary forms import price stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2022, and then declined dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform