Plastic Products 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 7,300 plastic product manufacturers in the US process plastic materials and produce parts and finished goods for a variety of end uses. Product categories include packaging material; fabricated shapes and plates; polystyrene foam products; urethane and other foam products; bottles; plumbing fixtures; and resilient floor coverings.
Cyclical Demand
Because plastic products are commonly used in a wide variety of industries and goods, economic conditions can affect demand.
Volatile Raw Materials Costs
Conventional plastic is a petroleum and natural gas byproduct and the cost of plastic or resin is affected by variability in the price of crude oil.
Industry size & Structure
A typical plastic products manufacturer employs about 83 workers and generates about $31.2 million annually.
- The plastic products manufacturing industry consists of 7,300 companies, employs 603,000 workers, and generates over $228 billion annually.
- The industry is fairly fragmented, with the 50 largest firms representing just 32% of industry revenue.
- Primary end-use markets include packaging, consumer and institutional, and building and construction. Other markets include transportation, electrical and electronics, furniture and furnishings, and industrial machinery.
- Individual companies may specialize according to end-use, process, or material. Many companies may act as suppliers to OEMs, such as auto or aircraft manufacturers.
- Large companies include Berry Global, Pactiv Evergreen Corp., and Graham Packaging.
Industry Forecast
Plastic Products Manufacturers Industry Growth
Recent Developments
Jan 27, 2025 - Producer Prices Rebounding
- Producer prices for plastic products manufacturers inched up 1.1% in December compared to a year ago after falling 2.2% in the previous December-versus-December annual comparison, according to the latest US Bureau of Labor Statistics data. Producer prices rebounded in December, albeit modestly, despite the recent decline in industry sales and shipments. Employment by the industry declined 1.7% year over year in November, while average wages at plastic products manufacturers rose 1.4% over the same period to $24.26 per hour, BLS data show.
- On his first day in office, President Trump renewed his promise to impose tariffs on imports to the US, saying he planned to put a 25% tariff on products from Canada and Mexico and an additional 10% tariff on Chinese goods on February 1, The New York Times reports. The US is a net importer of plastic products, with China, Canada, and Mexico accounting for about 64% of plastic product imports and 66% of US exports. Tariff hikes would make it more expensive for manufacturers to import needed components and raw materials, particularly from China and disrupt supply chains for US manufacturers. If the US’s three largest trading partners respond with retaliatory tariffs, it would make US exports more expensive and less attractive on the global market. However, it’s not clear if Trump will follow through on his tariff threats or what products would be affected.
- Negotiations taking place in South Korea this month are focused on reducing the millions of tons of plastic waste discarded each year, and even reining in plastic production by focusing on restricting single-use plastics, The New York Times reported in November. According to NYT, nearly half a billion tons of plastic are produced globally each year, more than twice the amount produced 20 years ago. Moreover, producing and transporting plastic releases the greenhouse gases fueling global warming. If negotiations succeed, it would be the world’s first treaty to tackle the explosive growth of plastic pollution. However, resistance from nations like Russia and Saudi Arabia that, like the US, produce the fossil fuels used to make plastic, and Donald Trump’s election to a second term could stymie the effort, with the US under Trump unlikely to sign on to a treaty.
- California has sued Exxon Mobil, accusing the company of misleading consumers about the recyclability of plastic products and polluting the state, The Wall Street Journal reported in September. The lawsuit alleges that Exxon violated California’s nuisance laws, as well as laws prohibiting state water pollution, false advertising, and unfair competition. The lawsuit was brought by California’s Attorney General Rob Bonta, who alleged Exxon Mobil continues to deceive the public in ad campaigns that claim recycling can fix “the plastics pollution crisis.” Bonta said Exxon for decades “falsely promoted” that all plastic is recyclable, and that 92% of plastic waste Exxon processes through its advanced recycling technology doesn’t become recycled plastic, WSJ reports. The AG said the state is looking into the actions of other as yet unnamed fossil-fuel companies and is seeking civil damages that could reach billions of dollars.
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