Plastic Manufacturing Industry in US continues the growth graph


California ranks top with maximum employees from the industry

Plastic-Manufacturing-IndustryThe Plastic Industry Trade Association in the USA is overjoyed with the decision of the government to expand the job vacancy market for the middle class and thereby strengthening the economy. Plastic stays the number one manufacturing sector among all the manufacturing industries that are operational in the US. The varieties of commodities produced using the raw material is going up and the degree of innovation applied has opened new markets both on the national and international fronts. The industry’s largest trade surplus amounted to around $ 9.9 billion which was at par with Mexico.

Experts from the industry indicated an ongoing trend of positivity as factors like increasing demands and sufficient supply of inexpensive natural gases help the sector to perform well, posting notable profits. After the first half of 2012, the global economic crash ended and stability started to return in many countries, US too experienced the same trend and the rate of employment which at once was awfully down started creeping up by the start of 2013. The US plastic industry had a vital role to play in this economic repair work. In a way it had a beamer role in uplifting the economy.

As per the records, a count of 8, 92,000 people were employed with the plastic industry which included a total of 15,949 facilities from all parts of the country. According to a market research, sector witnessed a constant growth rate of 0.1% year on year between the years 1980 to 2012; this uninterrupted growth percentage was more than that of the manufacturing industry as a whole. In fact, the industry was up and running by the middle of 2012 as plastic manufacturers shipped massive goods valued at $ 373 billion and the industry saw fresh investments worth $ 9.6 billion.

The consumption rate of plastic goods too grew nationwide as it touched a mark of $ 251 billion by the close of 2012; it gained an increase of 5.7% from 2011 where the usage was $ 237.6 billion. As there is a vast availability of natural gases, the industry is able to catch up with the international markets too. The sector is shipping its goods to a long list of countries gaining full capacity profits of the open world market.

Mexico and Canada are the two top importers of US plastic goods respectively. The sector sold off goods worth $ 13.6 billion to Mexico and $ 12.5 billion to Canada. China ranked as the third largest export market on the list. The real shipment growth in the industry was 2.3% for the duration from 1980-2012, the country’s plastic industry payroll was worth $ 41.7 billion by the end of 2012. All the states in the country employee workers from the sector making it a country spread occupation, an average of 1.4 million new jobs are added to the industry when the supplies increase.

On aggregate, every 6.7 job out of 1,000 non-farming jobs are works related to the plastic industry. The state of California houses maximum employees working in the sector, with over 74,000 heads.