Plastics Industry a Leading Force in U.S. Manufacturing
The Plastics Industry Association’s Size & Impact Report found that the U.S. plastics industry accounted for USD 418.4 billion in shipments in 2015 and 954,000 jobs, a 1.4-percent increase over 2014. When suppliers to the U.S. plastics industry are included, the total shipments figure balloons to USD 571.5 billion, and the jobs figure soars to 1.75 million, a nearly three-percent increase.
The report of the Plastics Industry Association, formerly SPI, also showed plastics’ continued, 35-year track record of strength when compared to the U.S. manufacturing sector as a whole. From 1980 to 2015, the U.S. plastics industry has outpaced all of U.S. manufacturing in terms of growth in real shipments, real value added, productivity growth and, most impressively, employment, adding jobs at an annualized rate of 0.3 % during that time period, while manufacturing as a whole lost jobs at an annualized rate of -1.2 %.
“On the heels of the arrival of a new Congress and, soon, a new Administration, the Size & Impact Report shows why the plastics industry will be such an important part of the effort to support job growth in manufacturing. The U.S. plastics industry continues to meet the needs of the global market, and then some; every day seems to bring news of a new, innovative application for plastic materials that makes the world a stronger, more sustainable place,” said Plastics Industry Association's President and CEO William R. Carteaux.
For a full copy of the U.S. Size & Impact Report, email Jacob Barron (email@example.com).
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