Spending for the Plastics and Rubber Sector Reaches $680 Million for Third-Quarter 2013

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Researched by Industrial Info Resources (Sugar Land, Texas)--The plastics and rubber products sector of the Industrial Manufacturing Industry is showing signs of rapid growth in the third quarter of 2013. As demand increases for plastic products--including tires, plastic bottles, bags, film and sheets, rubber hoses, plastic pipe and plastic foams--spending is expected to grow.

Six years ago, the plastics and rubber sector saw spending decline due to a decrease in demand following the recession. As a result, thousands of jobs were lost as plants closed. Since then, this sector has been making gains. In 2011, the sector broke a losing streak, increasing its jobs total for the first time since 1999. This continued in 2012, as exports of molds and machinery posted solid gains. As a result, Industrial Info tracked capital and maintenance projects estimated at $3 billion for the plastics and rubber sector in 2013, a sharp gain in spending.

For the first half of 2013, Industrial Info has tracked $539 million in projects for the plastics and rubber products sector that either began construction or were scheduled to begin construction before the end of June. Presently, Industrial Info is tracking $680 million in active construction projects for the third quarter of 2013 that have begun construction or were scheduled to begin construction. Of these, $346 million are located in the Southeast region and $179 million are located in the Great Lakes region.

As growth in the U.S. automotive sector boosts demand for tires and automotive trim, spending in the plastics and rubber sector is expected to continue increasing.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.