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The U.S. plastics processing industry is in a good situation with more optimism
Published:
2021-06-28 08:56
Source:
The U.S. plastics processing industry is in a good situation
Troy Nix, executive director of MAPP, said that the plastics manufacturing industry has officially recovered from the recession and is moving steadily towards exceeding the pre-recession sales level.
Nix said: "If there is still a business downturn and try to blame the economic environment, it will go against the trend. I know that not every company is doing well, but overall, the plastics industry is gaining momentum. force."
The fluctuation of raw material prices has stabilized, coupled with the recent overall decline in prices, which has made the industry full of optimism.
Nix said: "When market volatility decreases, there are fewer variables and influences in the business process."
The improvement in the overall economic situation in the United States in the past three years, especially in industries such as automobiles, has also helped promote the recovery of the plastics industry.
He said: "The automotive industry is second to none." He mentioned that the report jointly issued by J.D. Power and LMC Automotive predicts that the US light vehicle sales in 2015 will be approximately 17 million. "Now 65% of our members are related to the automotive industry. Obviously, the auto industry with positive momentum will promote the rapid development of the plastics industry."
Consumer goods are the second largest terminal market that respondents are most optimistic about in 2015, followed closely by the medical market. Nix said that with the increase in consumer confidence, 51% of the surveyed processing companies are optimistic about consumer products, but due to concerns about the taxation of medical devices, no more than 37% are optimistic about the future prospects of medical plastic processing.