The domestic plastics industry has been in constant expansion since hitting bottom during the Great Recession. It will maintain that momentum in 2018, and perhaps even accelerate it. Moreover, the world economy seems to be in lockstep, experiencing a rare instance of “global synchronous growth,” according to financial gurus.
While Perc Pineda, Chief Economist at the PLASTICS Industry Association (PLASTICS; Washington, DC), says that he doesn’t see any headwinds in the next 12 months, pessimists point to uncertainty surrounding the NAFTA re-negotiation. If it were to go south, if you’ll pardon the expression, it could have serious consequences for the plastics sector. The U.S. plastics industry “ran a surplus of $10.7 billion with Mexico and $719 million with Canada in 2016,” said PLASTICS President and CEO William Carteaux. “That would not have been possible without NAFTA.”
This Special Report from PlasticsToday offers industry insights on the year ahead, based on data from PLASTICS, a survey of plastics professionals conducted by Echo-Factory on behalf of thermoforming company Ray Products and other sources. Download your free copy here.