U.S. Plastic Market Size & Outlook, 2023-2030
U.S. plastic market, 2018-2030 (US$M)
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U.S. plastic market highlights
- The U.S. plastic market generated a revenue of USD 91,740.7 million in 2023 and is expected to reach USD 119,286.9 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.8% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2023.
- Medical Devices is the most lucrative end use segment registering the fastest growth during the forecast period.
Plastic market data book summary
| Market revenue in 2023 | USD 91,740.7 million |
| Market revenue in 2030 | USD 119,286.9 million |
| Growth rate | 3.8% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Construction, Electricals & Electronics, Automotive, Medical Devices, Agriculture, Furniture & Bedding, Consumer Goods, Utility |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Arkema SA, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Covestro AG, Toray Industries Inc, Mitsui & Co Ltd, Teijin Ltd, INEOS, LG Chem, Lanxess AG, CHIMEI, Huntsman Corp, LyondellBasell Industries NV Class A, Miller Waste Mills |
Other key industry trends
- In terms of revenue, U.S. accounted for 14.4% of the global plastic market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. plastic market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 9,817.0 million by 2030.
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Plastic Market Scope
Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. plastic market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 35.35% in 2023. Horizon Databook has segmented the U.S. plastic market based on packaging, construction, electricals & electronics, automotive, medical devices, agriculture, furniture & bedding, consumer goods, utility covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. federal government is planning to invest USD 2 trillion over a period of 10 years for infrastructure development. The country is characterized by a low-risk environment, a stable economy, and a robust financial sector.
These factors have provided a multitude of opportunities for investors in recent years, which are likely to trigger infrastructure spending in the country. This, in turn, is projected to positively impact the demand for plastics in the U.S. construction industry.
PET is expected to be one of the fastest-growing segments in the U.S. plastics market due to its high demand from the packaging sector. PET is mostly used in the production of bottles and contributes to a significant market share in plastics industry.
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Our clientele includes a mix of plastic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. plastic market , including forecasts for subscribers. This country databook contains high-level insights into U.S. plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. plastic market size, by end use, 2018-2030 (US$M)
U.S. Plastic Market Outlook Share, 2023 & 2030 (US$M)
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