Resin, Rubber & Fiber Manufacturers
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 1,060 firms in the US manufacture resin and plastic materials, synthetic rubber, artificial and synthetic fibers, and filaments. The industry supplies distributors and a broad range of manufacturers, including producers of apparel, footwear, tires and auto parts, containers and packaging, plastic wrap, paints and coatings, elastic cord, latex gloves, insulative materials, vinyl windows and siding, hoses, and home furnishings.
Consumer Demand for Natural Alternatives
Consumer awareness of the health and environmental impact of synthetic resins, plastics, rubber and fibers is driving demand for safer and biodegradable products.
Dependence on the Manufacturing Sector
The manufacturing sector drives demand for resin, plastic, rubber, and fiber materials.
Industry size & Structure
Industry Forecast
Resin, Rubber & Fiber Manufacturers Industry Growth
Recent Developments
Apr 21, 2024 - Wages Rise
- Producer prices for resin, rubber, and fiber manufacturers fell 4.6% in March compared to a year ago, extending a decline that kicked off in mid-2022, according to the latest data from the US Bureau of Labor Statistics. Resin prices are declining on lower demand, while favorable weather in rubber-producing countries has boosted supply. Employment by the industry was relatively flat (down less than 1%) in January versus the year-earlier period. According to BLS wage data, the average wage paid by chemical manufacturers was $30.76 per hour in January, a 7.7% year-over-year increase.
- With the world’s natural rubber supply under pressure from disease and rising demand, scientists at Ohio State University are working to bolster the US rubber market by extracting latex from two sustainable North American plants, RubberWorld reports. The research focuses on a species of dandelion (Taraxacum kok-saghyz) and the guayule shrub, which seeks to improve efficiency and increase latex yield. “We need to have efficient extraction methods for any and all alternative natural rubber-producing species, especially at a large scale,” said lead researcher Professor Katrina Cornish, adding, “And they have to be low-cost … to compete in the tire market in the long term.” The US produces synthetic rubber but depends on imports of natural rubber. In 2019, 10% of the natural rubber supply was lost to disease. If South American leaf blight were to reach Southeast Asia, it could rapidly wipe out most of the world’s natural rubber supply.
- More than two-thirds of US manufacturers have a positive economic outlook for 2024, but opinions are mixed about whether there will be a recession, according to the National Association of Manufacturers’ (NAM) Q4 2023 Manufacturers Outlook Survey of member companies. Large manufacturers are the most optimistic, with 77.5% positive about their company’s outlook, while medium-sized manufacturers are the least optimistic, with 63% feeling positive. While fewer respondents expect a recession in 2024 than they did three months ago, nearly 41% said they feel uncertain. Just over 34% of manufacturers believed the US economy would experience a recession in 2024. This year's top challenge for the manufacturing sector will be the workforce, with the labor market cooling substantially but remaining tight. Notably, NAM reported manufacturing construction spending is at a record high of $210 billion thanks to the production of semiconductors, electric vehicles and batteries, and general reshoring.
- As the auto industry transitions to electric vehicles, tiremakers are bringing specially designed tires for EVs to market, Tire Review reports. EVs go through tires 30% faster than gas-powered vehicles, says Bridgestone, which has developed its first EV-specific replacement tire that protects range and improves durability. The tiremaker’s new Turanza EV grand touring tire – designed for all Tesla models and the Ford Mustang Mach-E – was designed to account for the unique vehicle dynamics of EVs and features the company’s new Enliten technology, which aims to solve the wear-and-tear problem, which can contribute to air quality issues. It also incorporates 50% renewable and recycled materials using synthetic rubber associated with recycled plastic. It’s made at Bridgestone’s passenger car tire production facilities in North Carolina and Monterrey, Mexico where adjustments were made to accommodate the use of Enliten technology. including new rubber mixing and tire construction tools and technologies.
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