State of the Thermoplastics Industry

State of the Thermoplastics Industry

In 2017, the thermoplastics market value was estimated at 17 billion U.S. dollars, so the industry was thriving at that point. Now, however, the market value is expected to gain 6.24% from 2018 to 2023. This is exciting, but not necessarily surprising news for the polymer experts at Plastic Service Centers. We know the industries we serve incredibly well, and we understand that the growth of the automotive industry as well as expansions in the medical/pharmaceutical field leads to higher demand to the materials we provide.

Job Growth and a Better Economy Lead to Higher Demands for Polymers

Most Americans do not give much thought to thermoplastic resins, but they are a vital part of many of the products they use every day. These products include everything from disposable beverage bottles and food packaging to automobiles and the furniture found in homes and offices. Therefore, when and individuals have more spending power, more Americans purchase goods made with plastics – both durable and disposable.

Packaging and Automotive Industries Have Contributed to the Growth of the Thermoplastics Industry

Carbon fiber has been a long-time consumer favorite. However, because of the cost, it has been used in a limited capacity in the automotive industry. Yet, with the cost of carbon fiber coming down and more consumers purchasing new cars, the demand for carbon fiber has increased. Also, individuals on the go purchase convenience foods more frequently then ever these days, and this packaging requires materials such as PET plastic resins.

Plastic Service Centers Expertly Keeps Up with Growing Demands for Plastic Resins, Carbon Fiber, Stainless Steel Fiber, and Other Popular Materials for Growing Industries

At Plastic Service Centers, we have over 4,000,000 pounds of thermoplastic resin in stock. We offer generic resins, name brand resins, and even surplus resins at discounted prices. We have worked hard to become the leading plastic resin distributer, and we look forward to meeting your polymer needs. Give us a call at (586) 307-3900 for a free quote, or reach out to us with any questions you may have through the contact form on our website.