Today, the Plastics Industry Association (PLASTICS), the only industry group with membership throughout the entire plastics supply chain, announced its Plastics Industry Annual Business Outlook. Results of the annual survey indicate a strong sense of optimism for the industry over the next 6-12 months.
“While it’s essentially a snapshot in time, the result indicates a positive outlook for the plastics industry and for the entire domestic economy. Trade outlook with Mexico and Canada is also positive” said Perc Pineda, Ph.D., Chief Economist of PLASTICS.“As those in this industry are aware, the plastics supply chain is fairly complicated with many different segments. Our Plastics Industry Annual Business Outlook is helpful in capturing the sentiments of the entire industry to provide a complete picture.”
The 2021 Plastics Industry Annual Business Outlook is based on a survey of plastics industry decision-makers representative of all segments of the plastics supply chain conducted in June of 2021. These segments include brand owners, equipment suppliers, material suppliers, mold makers, processors and converters, recyclers, and service providers.
Key Takeaways
- Over 3/4 of respondents expect the U.S. economy to expand
- Nearly 90% expect an increase in business volume
- Nearly 3/4 expect workforce increases
- Nearly 2/3 anticipate an increase in capital expenditures
