Plastic Products Miscellaneous Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 32619Revenue
$130.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
396k
Businesses
4,793
Wages
$XX.Xbn
Plastic Products Miscellaneous Manufacturing in the US industry analysis
Miscellaneous plastic product manufacturers rely on diverse downstream markets. For example, automotive manufacturers purchase various plastic components for vehicle interiors and engine units. In contrast, hardware and home improvement wholesalers buy construction materials, plumbing fixtures and plastic flooring, among other items, to sell to downstream customers, like contractors and consumers. Manufacturers endured global uncertainty and weak manufacturing needs during the COVID-19 pandemic, leading to sharp declines. However, production swiftly resumed in 2021 amid economic stimulus. While the industry faltered again in 2022 because of weak downstream demand, it has continued its upward climb. Revenue is expected to climb at a CAGR of 0.6% to $130.5 billion through the end of 2024, including an expected 0.9% hike in 2024 alone.<br />Imports have overwhelmed domestic manufacturers. Foreign manufacturers leverage less stringent environmental regulations and lower labor costs to undercut domestic prices. In particular, many companies’ offshore production to China; the country dominates the import market despite restrictive tariffs. Many manufacturers have also invested in research and development to provide innovative, high-value solutions for downstream customers to combat import competition. This move has allowed companies to prevent more significant profit dips despite import penetration. Profit has shrunk to an estimated 4.8% of revenue in 2024, down from 5.3% in 2019.<br />The need for plastic products will spike in the coming years as the economy rejuvenates, spurring downstream needs, particularly in construction and motor vehicle manufacturing markets. Even so, environmental legislation and consumer pushback will curtail plastic consumption, especially single-use plastics. Many companies will continue prioritizing recyclable plastic products over newly manufactured ones; companies with more sustainable supply chains will generate a more robust need. Overall, revenue will swell at an estimated CAGR of 1.6% to $141.6 billion through the end of 2029.
Trends and Insights
- Manufacturers will face increasing pressure from lawmakers and consumers. Companies must prioritize sustainable production and recyclable products to conform to increasingly eco-conscious social trends.
- Plastic packaging remains a key segment for manufacturers. Swelling e-commerce growth has led to greater shipment volumes, driving the need for plastics from the shipping market.
- Most manufacturers locate in the Great Lakes. This region offers companies close proximity to key markets, suppliers and trade routes.
- Companies rely on innovation. Manufacturers strive to improve and streamline production capacity; companies differentiate from competitors with sustainable production and recycled products.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.6 % over the past five years, to reach an estimated $130.5bn in 2024.
Trends and Insights
Economic upsets hinder early demand
- Pandemic regulations also restricted travel, forcing automobile and aircraft manufacturers to cut production; the entire transportation sector faced a severe downturn. These manufacturers integrate miscellaneous plastic products into vehicle bodies, interiors, electronic components and even GPS systems.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Pent-up demand for travel will drive growth
- Many consumers have started to express pent-up demand for travel following the pandemic as governments lift travel restrictions. In particular, new car sales skyrocketed in 2023 and are expected to continue to expand in 2024. Automakers represent a crucial market for manufacturers, leading to growth in these years.
Biggest companies in the Plastic Products Miscellaneous Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Flex Ltd. | 6,045.3 | 295.6 | 4.9 | |
Uline, Inc. | 5,666.4 | 239.4 | 4.2 | |
Saudi Basic Industries Corporation (Sabic) | 1,864.2 | 114.6 | 6.1 |
To view the market share and analysis for all 36 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Fabricated plastic products for consumer, industrial, institutional and commercial applications, Fabricated plastic products for transportation applications and Plastic packaging. Fabricated plastic products for consumer, industrial, institutional and commercial applications is the largest segment of the Plastic Products Miscellaneous Manufacturing in the US.
Trends and Insights
Companies and consumers limit plastic usage
- Commercial, industrial, institutional and consumer plastic products cover a wide range of products, including plastic utensils, furniture, gears, pumps and other industrial machinery.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Adhesive Manufacturing in the US
- Chemical Product Manufacturing in the US
- Plastic Film, Sheet & Bag Manufacturing in the US
- Tire Manufacturing in the US
International industries
- Global Plastic Product & Packaging Manufacturing
- Other Plastic Product Manufacturing in Canada
- Plastic Pipe and Plastic Packaging Material Manufacturing in Australia
- Rigid and Semi-Rigid Polymer Product Manufacturing in New Zealand
Table of Contents
About this industry
Industry definition
This industry comprises companies that manufacture various plastic products, including housewares, building materials, motor vehicle parts, resilient floor coverings and appliance parts. This industry excludes plastic film, sheets, bags, profile shapes, pipes, pipe fittings, laminates, foam products and bottles.
What's included in this industry?
Plastic housewares (e.g. fixtures and fittings) manufacturingPlastic building materials manufacturingPlastic packaging material (except bottles) manufacturingPlastic bottle cap and lid manufacturingPlastic floor covering manufacturingPlastic motor vehicle part manufacturingPlastic inputs for appliances manufacturingPlastic credit and identification card manufacturingPlastic inputs for consumer durables manufacturingPlastic trash container manufacturingCompanies
Flex Ltd.Uline, Inc.Saudi Basic Industries Corporation (Sabic)Purchase this report to view all 36 major companies in this industry.
Related Terms
BLOW MOLDINGEXTRUSIONINJECTION MOLDINGIndustry Code
NAICS 32619 - Plastic Products Miscellaneous Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Manufacturers will face increasing pressure from lawmakers and consumers. Companies must prioritize sustainable production and recyclable products to conform to increasingly ...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Plastic packaging remains a key segment for manufacturers. Swelling e-commerce growth has led to greater shipment volumes, driving the need for plastics from the shipping mar...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Most manufacturers locate in the Great Lakes. This region offers companies close proximity to key markets, suppliers and trade routes.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Companies rely on innovation. Manufacturers strive to improve and streamline production capacity; companies differentiate from competitors with sustainable production and rec...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
International manufacturers dominate the industry. Prominent manufacturers, like Saudi Basic and Flex, have global operations that are extensions of their central operations,...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Flex Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Uline, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Saudi Basic Industries Corporation (Sabic)'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 33 additional companies
Detailed analysis
- Description and key data for Flex Ltd., and factors influencing its performance in the industry
- Description and key data for Uline, Inc., and factors influencing its performance in the industry
- Description and key data for Saudi Basic Industries Corporation (Sabic), and factors influencing its performance in the industry
- Description, key data and performance trends for 33 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers must adhere to environmental regulations curtailing hazardous air pollutant (HAP) generation. State and federal agencies enforce these regulations in addition t...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers face volatile purchase costs, leading to depressed profits. Plastic and resin prices rely on crude oil, leading to inherent volatility.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Plastic Products Miscellaneous Manufacturing in the US industry in United States in 2024?
The market size of the Plastic Products Miscellaneous Manufacturing in the US industry in United States is $130.5bn in 2024.
How many businesses are there in the Plastic Products Miscellaneous Manufacturing in the US industry in 2024?
There are 4,793 businesses in the Plastic Products Miscellaneous Manufacturing in the US industry in United States, which has declined at a CAGR of 1.8 % between 2019 and 2024.
Has the Plastic Products Miscellaneous Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Plastic Products Miscellaneous Manufacturing in the US industry in United States has been growing at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Plastic Products Miscellaneous Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Plastic Products Miscellaneous Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Plastic Products Miscellaneous Manufacturing in the US market in United States?
The biggest companies operating in the Plastic Products Miscellaneous Manufacturing market in United States are Flex Ltd., Uline, Inc. and Saudi Basic Industries Corporation (Sabic)
What does the Plastic Products Miscellaneous Manufacturing in the US in United States include?
Plastic housewares (e.g. fixtures and fittings) manufacturing and Plastic building materials manufacturing are part of the Plastic Products Miscellaneous Manufacturing in the US industry.
Which companies have the highest market share in the Plastic Products Miscellaneous Manufacturing in the US in United States?
The company holding the most market share in United States is Flex Ltd..
How competitive is the Plastic Products Miscellaneous Manufacturing in the US industry in United States?
The level of competition is high and steady in the Plastic Products Miscellaneous Manufacturing in the US industry in United States.
