Plastics touch virtually every aspect of modern life, yet it’s easy to overlook the incredible innovation happening in products so familiar to us. Several factors drive change in the plastics industry, and it’s educational and informative to explore how those trends could shape the future. Here’s a look at just a few of the things we’re learning about the present and future state of plastics.
1. Plastics continue to matter to the average person, even in times of crisis. For example, plastics consumption remained steady during the COVID-19 pandemic, according to the 2021 Global Trends report published by the Plastic Industry Association. In particular, the U.S. continues to develop plastics products for domestic consumption as well as providing exports to its top buyers, which include Mexico, Canada and China. Yearly growth of 4.5% in plastics apparent consumption is anticipated, assuming favorable tax policies.
2. Doors of opportunity remain open for resin manufacturers. The plastic association report notes that a key ingredient—“low-cost feedstocks, made possible by unconventional, shale-related drilling techniques—allows U.S. producers to create resin at a lower cost compared to many producers around the world. Growth in resin and materials production is anticipated to pick up further in 2022, according to Plastics Today. Part of this U.S. demand for resin output could come from the United Kingdom, which has reduced its plastics purchasing from its neighbors after exiting the European Union.
3. Sustainability professionals and other industry leaders will continue to seek out novel ways to extend the lifespan of plastics, moving more countries closer to a circular economy. Virgin plastic in packaging has peaked, according to an article from GreenBiz, and “reuse and refill approaches continue to grow, albeit slowly.”
4. Demand continues apace for specialized plastics manufacturing, either because parts are unavailable or don’t exist at all. This has been true here at Plastics Manufacturing Resources. Imagination is a powerful tool that unlocks unique solutions for customers based on their specific applications and requirements.
To meet the demand for custom plastics manufacturing, it’s important to start with a consultation. This enables the team at Plastics Manufacturing Resources to understand your needs and specifications. Next, we’ll partner to build the solution together. Whether your company provides fluid-handling services for industrial applications or cockpit equipment to the aerospace industry, we will work closely with design firms to meet your needs.
It’s exciting to think about where our industry is headed as the trend for specialized plastics manufacturing continues. Organizations will avoid inefficiencies, high costs and low-quality products—and have fewer headaches from projects gone wrong. They’ll also become successful and streamlined businesses using the exact parts they need to get the job done right.
Don’t leave your success to chance. Contact Plastics Manufacturing Resources for a consultation about your unique business needs. Give us a call at 508-878-8280 to learn how we can help.
