The US thermoplastics market is expected to project a considerable CAGR during the forecast period. The US is one of the key markets for plastic packaging, owing to the massive demand generated for plastics from end-user industries. Along with the packaging industry, the construction industry is one of the major contributors to the US economy, as per the Associated General Contractors of America (AGC). 

The investment in infrastructure is anticipated to increase in the near future owing to the growing construction projects. Moreover, the automotive sector is another industry that has a considerable share in the US economy. Though the sales of automotive have decreased in the US, the sales of EVs (electric vehicles) and the installation of charging stations are expected to increase in the future. However, the uncertainty of recovery from the economic disruption of the COVID-19 pandemic has underlined weaknesses in durable goods demand, such as autos and light trucks.

The US thermoplastics market is segmented based on type and application. Based on type, the market is broadly categorized into polyethylene (PE), polypropylene (PP), polystyrene (PS), polyvinylchloride (PVC), polyethylene terephthalate (PET), and others. Based on application, the market is segmented into packaging; building & construction; automotive; electrical & electronics; household, leisure & sports; agriculture; and others. The packaging is the major application of thermoplastics and is estimated to contribute a significant share to the market. 

Furthermore, some of the key players in the market include BASF SE, Exxon Mobil Corp., Hexcel Corp., the Dow Chemical Co., Celanese Corp., and others.  These companies are using several strategies to expand market share and gain a competitive advantage over their competitors. The strategies include new product launches, mergers and acquisitions, partnerships, and collaborations. For instance, in January 2019, Hexcel Corp. acquired ARC Technologies, LLC (“ARC”), a leading supplier of custom RF/EMI and microwave absorbing composite materials for military, aerospace, and industrial applications. The acquisition strengthened the company’s existing advanced materials portfolio in structural composites and thermoplastics.

Research Methodology

The market study of the US thermoplastics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Authentic public databases 
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for plastic manufacturers, raw material suppliers, resellers, traders, and distributors, construction industry, packaging industry, food & beverage industry, electrical & electronics industry, other end-users, government organizations, regulatory bodies, research institutes, and other market participants for overall market analysis and competitive analysis. The report is intended for manufacturers of personal care products and ingredients for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models. 

Market Segmentation:

1. US Thermoplastics Market Research and Analysis by Material
2. US Thermoplastics Market Research and Analysis by Application

The Report covers:

• Comprehensive research methodology of the US thermoplastics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the US thermoplastics market.
• Insights about market determinants which are stimulating the US thermoplastics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.