The PLASTICS 2024 Size and Impact Report finds continued positive contributions to the U.S. economy
Plastics manufacturing employment grew 1.1 percent per year from 2013 to 2023, outpacing total manufacturing
The Plastics Industry Association (PLASTICS) has released its 2024 Size and Impact Report, the association's flagship annual analysis of the plastics industry, highlighting continued positive contributions to the U.S. economy.
Dr. Perc Pineda, chief economist at PLASTICS, presented an overview of the report's findings during an online executive briefing and said, "The 2024 Size and Impact Report of the U.S. plastics industry highlights the vital role the industry plays in the economy. The report shows growth in the industry's real economic value added (adjusted for inflation), an increase in its share of consumer demand, and, more importantly, a rise in annual payroll."
Highlights of the report include:
- The U.S. plastics industry is large, accounting for over a million jobs (1,005,100) and $519.1 billion in shipments in 2023.
- A success story for the U.S. economy, plastics manufacturing employment grew 1.1 percent per year from 2013 to 2023, outpacing total manufacturing, which saw employment grow by just 0.7 percent per year during the same period.
- When suppliers to the plastics industry are considered, plastics-related U.S. jobs grow to 1.55 million, and total shipments grow to $658.2 billion.
- As measured by gross output, the plastic products portion of the plastics industry was the eighth largest U.S. industry in 2022 (the latest year for which data are available).
"This report shows the plastics industry remains vital to our economy as a job creator and a source of innovation," said PLASTICS president and CEO Matt Seaholm. "Our industry will continue to grow as part of the circular economy, finding innovative ways to make plastic better and more sustainable."
