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The United States' plastic and rubber market is a massive force, generating billions of dollars in revenue and employing hundreds of thousands of people. In 2022, the industry's estimated revenue reached US$220.3 billion.
The US government plays a significant role in the plastic and rubber market through its extensive procurement activities. In 2021, the value of national shipments in the plastics industry alone reached a staggering US$468 billion.
The US government procures a wide range of plastic and rubber products and services, including:
Packaging: Rigid plastic packaging is a major segment, reaching a value of US$495.7 billion in 2021.
Medical supplies: Gloves, syringes, and other vital equipment.
Construction materials: Pipes, insulation, and building components.
Transportation: Tires, hoses, and automotive parts.
Several key authorities oversee the US plastic and rubber market, including:
Food and Drug Administration (FDA): Regulates medical devices and packaging.
Environmental Protection Agency (EPA): Sets environmental standards for production and disposal.
National Institute of Standards and Technology (NIST): Develops standards and guidelines for materials.
The top winners of US government plastic and rubber procurement contracts include:
BASF: Leading global chemical company with US$95 billion in revenue (2023).
Dow: Major producer of plastics and chemicals.
LyondellBasell: Global leader in the chemical industry.
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