Plastics Industry Association Publishes 2017 Size & Impact Report
U.S. Plastics Industry Well Positioned for Continued Growth
The 2017 Size & Impact Report, released by the Plastics Industry Association (PLASTICS), shows that employment in the U.S. plastics industry grew by one percent in 2016, from 954,000 workers to 965,000. The report also found that the American plastics industry accounted for USD 404.4 billion worth of shipments in 2016, a three-percent decline from 2015 that was driven primarily by lower raw material costs and low oil and natural gas prices. Regardless of the decline in shipments, the report notes that the U.S. plastics industry remains historically strong, and well positioned for continued growth.
Other highlights from the report include the following:
- Employment in the plastics industry has grown 1.4 % since 2012
- The plastics industry is experiencing a period of robust growth, with 1.6% growth per year in real value added from 2012 to 2016
- California reclaimed its position as the state with the most plastics workers with 77,000. For the past two years Texas has held the top spot but fell to third in 2016.
- Indiana remains the state with the most plastics industry employees per capita. For every 1000 non-farm jobs in the state, 16.5 of them are in plastics.
- When counting suppliers to the plastics industry, the estimated value of total shipments balloons to USD 552.4 billion, and the number of employees expands to 1.76 million
“The economic outlook for the plastics industry provided by the report suggests that 2018 will be a banner year in NPE history,” said PLASTICS President & CEO William R. Carteaux. “Additionally, now that investments in capital equipment can be immediately and totally expensed by companies thanks to the newly-approved tax bill, NPE2018 is set to reach new heights of business activity.”
The Plastics Industry Association, formerly SPI, is the only U.S. American organization that supports the entire plastics supply chain, representing nearly one million workers in the USD 418 billion U.S. industry. The organization produces North America’s largest plastics trade show, NPE: The Plastics Show which will take place May 7-11, 2018 in Orlando, Florida.
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