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10-27-2020

Another Year of Trade Surplus for the U.S. Plastics Industry

Annual Plastics Report

The Plastics Industry Association (Plastics) released its annual Global Trends report today at the 2020 Global Plastics Summit (GPS). The report, which analyzes trade data from 2019 and the first six months of 2020, paints a complex but promising portrait of the U.S. plastics industry in the international market.

© stock.adobe.com/Nataliiap

© stock.adobe.com/Nataliiap

According to the report, Mexico and Canada remained the U.S. plastics industry’s largest export markets. In 2019, the industry exported $15.3 billion to Mexico and $12.4 billion to Canada, maintaining its largest trade surplus—$9.8 billion—with Mexico.

“The 2020 Global Trends report shows that the U.S. plastics industry is a major player in world trade, due to the versatility of the material and high demand for it,” said Plastics President and CEO Tony Radoszewski. “Exports generate jobs, and the U.S. plastics industry continues to create jobs for the U.S. economy. For the third year, our Global Plastics Ranking also provides insights for plastics companies exploring export market opportunities.”

China is the World´s largest Resin Buyer and on Rank 3 with the U.S.

Although the report found that the U.S. plastics industry’s trade surplus decreased to $0.4 billion in 2019 from $0.5 billion in 2018, global plastics demand remains solid. The U.S. plastics industry had a $13.7 billion deficit with China — the third largest export market of the U.S. plastics industry. However, the U.S. had a $2.5 billion trade surplus with China with resin. China is the world’s largest resin buyer and a large importer of U.S.-produced resins.

The Global Trends report also explores a broader international view of plastics, covering production, consumption and more details of important trading partners for the U.S. It also discusses apparent consumption, a broad measure of the domestic market size. U.S. apparent consumption of plastic products grew 1.0% to $232.4 billion in 2019. However, due to U.S. producer prices falling 1.5% in 2019, apparent consumption in plastic products grew 2.5%. In 2019, total U.S. plastics industry exports fell 2.9%, and imports were 2.8% lower than in 2018.

Trade Outlook for 2021 ist Positive

“Against the backdrop of moderating global economic growth in 2019 and uncertainties related to tariffs and trade, the U.S. plastics industry generated a trade surplus. Although U.S. resin producers continued to enjoy a cost advantage over most foreign producers, U.S. resin exports decreased 2.0% in dollar terms from 2018 to 2019,” noted Plastics Chief Economist Perc Pineda, PhD. “Lower trade figures are expected this year due mainly to the global economic slowdown, but the trade outlook for 2021 is positive,” Pineda added.
Canada and Mexico will continue to be the two largest export markets and are also the top sources of U.S. plastics imports. The manufacturing sector’s supply chain in these countries was strengthened with the passage of the North American Free Trade Agreement (NAFTA). The updated free trade pact, United States Mexico Canada Agreement (USMCA), should further enhance trade among the three countries.

The 2020 Global Trends report is available for Plastics members and non-members to download here.

Additional information
  • 03-02-2020

    Plastics Machinery Shipments Stayed Low in 2019

    Plastics Industry Association about Fourth Quarter Uptick

    While the shipments of injection molding rose 9.6% in the fourth quarter, single- and twin-screw extruders shipments decreased 0.9% and 7.7%, respectively.   more

  • 08-02-2019

    New President and Chief Executive Officer

    Interim Leadership Ended

    The Plastics Industry Association has named Tony Radoszewski President and Chief Executive Officer effective September 16, 2019.   more

  • 06-12-2019

    Report from the Plastics Industry Association’s Committee on Equipment Statistics

    Decline of Plastics Machinery Shipments in the First Quarter

    As reported by the Plastics Industry Association’s Committee on Equipment Statistics (CES), which collects monthly data from manufacturers of plastic injection molding, extrusion, blow molding, hot runners and auxiliary equipment, the shipments value of primary plastics machinery in North America declined in the first quarter of 2019.   more

Company profile

Plastics Industry Association

1425 K St., NW, Suite 500
US 20005 WASHINGTON, DC
Tel.: +1 202 9745200
Fax: +1 202 2967005

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