$130.5bn
$X.Xbn
396k
4,793
$XX.Xbn
Miscellaneous plastic product manufacturers rely on diverse downstream markets. For example, automotive manufacturers purchase various plastic components for vehicle interiors and engine units. In contrast, hardware and home improvement wholesalers buy construction materials, plumbing fixtures and plastic flooring, among other items, to sell to downstream customers, like contractors and consumers. Manufacturers endured global uncertainty and weak manufacturing needs during the COVID-19 pandemic, leading to sharp declines. However, production swiftly resumed in 2021 amid economic stimulus. While the industry faltered again in 2022 because of weak downstream demand, it has continued its upward climb. Revenue is expected to climb at a CAGR of 0.6% to $130.5 billion through the end of 2024, including an expected 0.9% hike in 2024 alone.
Imports have overwhelmed domestic manufacturers. Foreign manufacturers leverage less stringent environmental regulations and lower labor costs to undercut domestic prices. In particular, many companies’ offshore production to China; the country dominates the import market despite restrictive tariffs. Many manufacturers have also invested in research and development to provide innovative, high-value solutions for downstream customers to combat import competition. This move has allowed companies to prevent more significant profit dips despite import penetration. Profit has shrunk to an estimated 4.8% of revenue in 2024, down from 5.3% in 2019.
The need for plastic products will spike in the coming years as the economy rejuvenates, spurring downstream needs, particularly in construction and motor vehicle manufacturing markets. Even so, environmental legislation and consumer pushback will curtail plastic consumption, especially single-use plastics. Many companies will continue prioritizing recyclable plastic products over newly manufactured ones; companies with more sustainable supply chains will generate a more robust need. Overall, revenue will swell at an estimated CAGR of 1.6% to $141.6 billion through the end of 2029.
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $130.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Flex Ltd. | 6,045.3 | 295.6 | 4.9 | |
Uline, Inc. | 5,666.4 | 239.4 | 4.2 | |
Saudi Basic Industries Corporation (Sabic) | 1,864.2 | 114.6 | 6.1 |
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Industry revenue is measured across several distinct product and services lines, including Fabricated plastic products for consumer, industrial, institutional and commercial applications, Fabricated plastic products for transportation applications and Plastic packaging. Fabricated plastic products for consumer, industrial, institutional and commercial applications is the largest segment of the Plastic Products Miscellaneous Manufacturing in the US.
Companies and consumers limit plastic usage
This industry comprises companies that manufacture various plastic products, including housewares, building materials, motor vehicle parts, resilient floor coverings and appliance parts. This industry excludes plastic film, sheets, bags, profile shapes, pipes, pipe fittings, laminates, foam products and bottles.
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NAICS 32619 - Plastic Products Miscellaneous Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Manufacturers will face increasing pressure from lawmakers and consumers. Companies must prioritize sustainable production and recyclable products to conform to increasingly ...
Learn about an industry's products and services, markets and trends in international trade.
Plastic packaging remains a key segment for manufacturers. Swelling e-commerce growth has led to greater shipment volumes, driving the need for plastics from the shipping mar...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Most manufacturers locate in the Great Lakes. This region offers companies close proximity to key markets, suppliers and trade routes.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Companies rely on innovation. Manufacturers strive to improve and streamline production capacity; companies differentiate from competitors with sustainable production and rec...
Learn about the performance of the top companies in the industry.
International manufacturers dominate the industry. Prominent manufacturers, like Saudi Basic and Flex, have global operations that are extensions of their central operations,...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers must adhere to environmental regulations curtailing hazardous air pollutant (HAP) generation. State and federal agencies enforce these regulations in addition t...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Manufacturers face volatile purchase costs, leading to depressed profits. Plastic and resin prices rely on crude oil, leading to inherent volatility.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Plastic Products Miscellaneous Manufacturing in the US industry in United States is $130.5bn in 2024.
There are 4,793 businesses in the Plastic Products Miscellaneous Manufacturing in the US industry in United States, which has declined at a CAGR of 1.8 % between 2019 and 2024.
The market size of the Plastic Products Miscellaneous Manufacturing in the US industry in United States has been growing at a CAGR of 0.6 % between 2019 and 2024.
Over the next five years, the Plastic Products Miscellaneous Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Plastic Products Miscellaneous Manufacturing market in United States are Flex Ltd., Uline, Inc. and Saudi Basic Industries Corporation (Sabic)
Plastic housewares (e.g. fixtures and fittings) manufacturing and Plastic building materials manufacturing are part of the Plastic Products Miscellaneous Manufacturing in the US industry.
The company holding the most market share in United States is Flex Ltd..
The level of competition is high and steady in the Plastic Products Miscellaneous Manufacturing in the US industry in United States.