In 2023, the gross output for the Plastics and Rubber Product Manufacturing Industry in the US was $250 billion. The forecasted data shows a consistent upward trend from 2024 through 2028. The yearly gross output is projected to increase from $253.02 billion in 2024 to $263.72 billion by 2028.
Year-on-year percentage variations are as follows:
- 2024: 1.21%
- 2025: 1.09%
- 2026: 1.05%
- 2027: 1.02%
- 2028: 0.99%
Over the last two years, the industry saw an average annual growth rate of approximately 1.06%. The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is projected to be 1.07%.
Future trends to watch for include the increasing use of sustainable and biodegradable materials, advancements in manufacturing technologies, and potential regulatory changes affecting environmental compliance and import/export markets.
