April 15, 2013
U.S. plastic molds outperformed all other segments of plastics industry exports with a 16.4% increase in 2012. This increase is notable due to the fact that plastic molds experienced a 2.3% decrease in 2011. Since 2008, the plastics molds segment has only experienced a 4.6% increase in exports.
2012’s increased amount of exports can be attributed to a number of the top 10 import countries of U.S. plastics molds: Egypt, Sweden, Norway, Romania, Greece, St. Kitts-Nevis, Venezuela, Portugal, Trinidad & Tobago and Guatemala. Seven of these top ten countries averaged a 235% annual during the last five years and in 2012 averaged a 480% increase. Egypt for instance has averaged a 331% annual increase during this same time frame, but in 2012 it experienced a 1047% jump in imports.
Plastic products and plastics machinery experienced a 3.6% and 3.7% increase in exports respectively while plastic resins experienced a 2.8% decrease in exports. The U.S. plastics trade balance shrunk 8.6% but remains valued at $14.9 billion.
Founded in 1937, SPI: The Plastics Industry Trade Association promotes growth in the $427 billion U.S. plastics industry. Representing nearly one million American workers in the third largest U.S. manufacturing industry, SPI delivers legislative and regulatory advocacy, market research, industry promotion and the fostering of business relationships and zero waste strategies. SPI also owns and produces the international NPE trade show. All profits from NPE are reinvested into SPI’s industry services. Find SPI online at www.plasticsindustry.org and www.inthehopper.org.
"From resin suppliers and equipment makers to processors and brand owners, SPI is proud to represent all facets of the U.S. plastics industry," said William R. Carteaux, president and CEO, SPI. "Our most recent economic reports show that the plastics industry as a whole is resilient, and has come through the recession significantly better than other U.S. manufacturing sectors."