Global Trends 2021

The U.S. plastics industry’s trade deficit increased to $10.1 billion in 2021, with higher imports and rising inflation. Mexico and Canada remained the top export markets, while China posed the largest trade deficit. The industry saw growth in domestic shipments and apparent consumption, influenced by higher raw material costs and inflation. The resin industry had a surplus, while plastic products experienced a growing deficit. The moldmaking and machinery sectors faced trade deficits as well. The report provides forecasts and highlights the impact of the COVID-19 pandemic on the industry.