U.S. plastics industry rises to $23.7 billion surplus in 2024
The Global Trends Report highlights the importance of plastics and its reach across industries
The Plastics Industry Association (PLASTICS) released its annual Global Trends Report shows that the U.S. plastics trade remains a driver of global economic growth.
Highlights from the Global Trends Report include:
- The U.S. resin industry recorded a $23.7 billion surplus in 2024, consistent with 2023 levels.
- Mexico and Canada remained the largest export markets, with U.S. exports totalling $19.8 billion to Mexico and $14.3 billion to Canada, resulting in the industry's largest trade surplus — $11.6 billion — with Mexico.
- China was the third-largest export market, with $7.3 billion in U.S. exports (unchanged from 2023), but also the largest source of the industry's trade deficit, amounting to $12.4 billion. The U.S. had a $4.3 billion trade surplus in resin with China in 2024.
The Global Trends Report and its accompanying dataset provide a uniquely comprehensive account of U.S. plastics exports and imports worldwide in each of the four categories of the plastics industry - resin, products, machinery, and molds. The report is also the only plastics trade report that includes trade analysis outlining the movement of resins and plastics that are embedded in goods that the U.S. both exports and imports.
"The U.S. plastics industry remains a driving force behind manufacturing and the global economy — ranking as the world's second largest in plastics trade, according to our annual Global Plastics Ranking," said PLASTICS Chief Economist Dr. Perc Pineda. "With a $23.7 billion trade surplus in resins, the United States continues to ensure global access to essential materials that power innovation, production, and growth across industries."
"The U.S. plastics industry is a leader in global trade, illustrating not only the importance of plastics but also their reach across the economy," said PLASTICS President and CEO Matt Seaholm. "Our members continue to innovate, invest, and scale new technologies that improve sustainability and efficiency, while providing the materials that keep industries moving and communities thriving."
