Industry News
-
Industry News
Plastics Materials for Recycling: U.S. Exports Decreasing and Imports Increasing
May 30, 2023 As government representatives gather in Paris, France, this week under the auspices of the United Nations Environment Assembly, to discuss an international, legally binding instrument on plastics, it is crucial for all participants to consider the millions of workers employed in the global supply chain of the plastics industry. -
Industry News
Plastics Machinery Shipments in the First Quarter Showed Year-on-Year Growth
May 24, 2023 According to the Plastics Industry Association's Committee on Equipment Statistics (CES), shipments of primary plastics machinery (injection molding and extrusion) in North America declined in the fourth quarter. The preliminary estimate for the first quarter of 2023 showed a shipment value of $345.8 million, which was 20.1% lower than the previous quarter. However, compared to the same period last year, the value of shipments increased by 1.6%. -
Industry News
A Cross-border Conversation on Plastics Trade
May 3, 2023 PLASTICS' Chief Economist sat down with the President of Mexico’s plastics industry trade association to talk about plastics trade between the U.S. and Mexico. -
Industry News
On R&D First-Year Full Expensing—Why it Matters to the Plastics Industry and the Macroeconomy
April 12, 2023 As of January 1, 2022, businesses can no longer deduct research and development (R&D) costs in the same year they are incurred. Instead, R&D costs must be capitalized and amortized over time. There is a difference, however, in amortization depending on where the R&D expenses took place. With the recent change in R&D expensing, domestic R&D expenses must be capitalized and amortized over a five-year period. Foreign R&D, that is R&D expenses paid to a foreign contractor, must be amortized over 15 years. -
Industry News
Plastics Machinery Shipments Exhibit 2022 Fourth Quarter Increases
March 16, 2023 Shipments of primary plastics machinery (injection molding and extrusion) in North America increased in the fourth quarter of 2022, according to the statistics compiled and reported by the Plastics Industry Association’s (PLASTICS) Committee on Equipment Statistics (CES). -
Industry News
Retail Sales off to a Good Start in 2023?
February 23, 2023 Given that two-thirds of the U.S. gross domestic product (GDP) is personal consumption expenditures, strong consumer spending data are greeted with optimism in the plastics industry. According to the advanced retail sales estimates by the U.S. Census Bureau for January of 2023, U.S. retail sales rose by 3.0% from December and 6.4% from a year earlier. -
Industry News
PLASTICS Members Are Great Employers
February 6, 2023 Of the 22 plastics companies named Plastics News Best Places to Work for 2023, more than a third are members of the Plastics Industry Association (PLASTICS), and we want to take this opportunity to congratulate them. -
3ab6.png)
Industry News
Consumers Rein in Spending…Again…in December
January 24, 2023 The advanced monthly retail sales estimates for December recently released by the U.S. Census Bureau showed another month of pullback in monthly consumer spending. -
4325.png)
Industry News
The U.S. Plastics Industry in 2022 in Seven Charts
January 4, 2023 The U.S. plastics industry continued to grow in 2022 against the backdrop of weaker domestic and global economic growth. All told, demand for plastics and plastic products stayed stable in 2022.