Plastic Companies: Billion-Dollar Industry Profits Revealed

The plastic industry is one of the world's largest, with a total of over $541.5 billion in sales and supplier sales. In 2013, 300 million tons of plastic were produced worldwide. The European plastics industry alone is responsible for around 350 billion EUR in turnover annually, while the US industry has a yearly turnover of $380 billion USD. The US plastics industry is largely fuelled by the country's oil and gas sector. Companies across the world produce over 450 million metric tons of plastic each year, with much of it ending up in landfills, on roadsides, and in rivers, oceans, and streams.

The European plastics industry generates around 350 billion EUR in turnover annually

The plastics industry is one of the world's largest, with over $541.5 billion in total sales and supplier sales when including suppliers. Direct employment in the industry provides jobs to more than 1.5 million people in the European Union alone. The industry has experienced considerable growth, with projections of a USD 1,907 million market by 2023 through advancements in 3D printing plastics technology and innovation.

The US plastics industry is another major player, with a market size of 104 billion USD in 2023, down slightly from 107 billion USD in 2020. The industry employs almost 100,000 people in the manufacture of plastic and resin alone, with figures growing year-on-year since 2020. The US plastics industry is largely fuelled by the country's oil and gas sector, with the availability of domestically produced petrochemical feedstocks.

Companies across the world produce over 450 million metric tons of plastic each year, with much of it ending up in landfills, on roadsides, and in rivers, oceans, and streams. A recent study found that 24% of the waste with an identifiable brand came from just five companies: Coca-Cola, PepsiCo, Nestlé, Danone, and Altria.

The US plastics industry has a yearly turnover of $380 billion USD

The industry is largely fuelled by the country's oil and gas sector, with the availability of domestically produced petrochemical feedstocks. Prior to the oil crisis in 2020, the US shale oil and gas industry fuelled what was dubbed the 'US shale advantage', which led to billions of dollars in plastic industry investments.

The US plastics industry employs over 1 million people across 16,000 manufacturing sites. The European plastics industry, by comparison, employs 1.45 million people across 62,000 companies (mainly small/medium-sized firms).

Companies across the world produce over 450 million metric tons of plastic each year, with much of it ending up in landfills, on roadsides, and in rivers, oceans, and streams.

The US plastics industry is largely fuelled by the country's oil and gas sector

The US plastics industry is closely linked to the country's fossil fuels industry. The availability of domestically produced petrochemical feedstocks has made the plastic industry go hand in hand with the US fossil fuels industry. Petrochemicals, the category that includes plastic, now account for 14% of oil use and are expected to drive half of the oil demand growth between now and 2050, according to the International Energy Agency (IEA).

The majority of high-level glosses (HGLs) produced in the US are byproducts of natural gas processing, with the rest produced at crude oil/petroleum refineries. Alkanes, which can be used as feedstock for petrochemical crackers, are found in the HGLs produced by US petroleum refineries. Refinery olefins, primarily propylene, but also minor quantities of ethylene and butylenes, can be used as direct inputs into plastics manufacturing.

The US shale oil and gas industry fuelled what was dubbed the 'US shale advantage', which led to billions of dollars in plastic industry investments. Oil and gas production in the US has more than doubled in the past decade, and over 800,000 active oil wells are located in the continental US.

The global plastics industry accounts for over $541.5 billion in total sales

The global plastics industry is one of the world's largest, accounting for over $541.5 billion in total sales and supplier sales when including suppliers. The industry is economically significant and an important source of innovation, with products and materials used across a variety of industries.

The European plastics industry alone is responsible for around 350 billion EUR in turnover annually, and it employs 1.45 million people across 62,000 companies (mainly small/medium-sized firms). The majority of this demand originates from just five countries: Germany (25.4%), Italy (14.3%), France (9.7%), the UK (7.6%), and Spain (7.5%).

The US plastics industry is also a major player, with a yearly turnover of $380 billion USD, matching that of Europe. The US industry employs over 1 million people across 16,000 manufacturing sites and has an added $13 billion trade surplus. The market size of the plastic and resin manufacturing industry in the US fell slightly from 2020 to 2023, from a market value of 107 billion USD to 104 billion USD.

Companies across the world produce over 450 million metric tons of plastic each year, with much of it ending up in landfills, on roadsides, and in rivers, oceans, and streams. The top five companies producing plastic waste worldwide are Coca-Cola, PepsiCo, Nestlé, Danone, and Altria, which together account for 24% of all plastic waste.

Five companies produce nearly 25% of all plastic waste worldwide

The plastics industry is one of the world's largest, accounting for over $541.5 billion in total sales and supplier sales when including suppliers. The European plastics industry alone is responsible for around 350 billion EUR in turnover annually, and it employs 1.45 million people across 62,000 companies (mainly small/medium-sized firms). The US plastics industry is also huge, with a yearly turnover of $380 billion USD each year and an added $13 billion trade surplus. The market size of plastic and resin manufacturing in the US fell slightly from 2020 to 2023, from a market value of 107 billion U.S. dollars to 104 billion U.S. dollars.

Despite the economic significance of the plastics industry, it is also a major source of waste. A recent study published in Science Advances found that 24% of the waste with an identifiable brand came from just five companies: Coca-Cola, PepsiCo, Nestlé, Danone, and Altria. Coca-Cola was the single most common source for plastic waste, representing 11% of the total branded waste found. The food and beverage industry creates more plastic pollution than the household goods industry.

The study, which was conducted by researchers and over 100,000 volunteers across six continents, analysed over 1,800,000 pieces of plastic collected during clean-up events. Just over half the analysed items had a visible brand. The rest were too degraded or never had brand information in the first place.

The companies that produce fossil fuels, which are used to make plastics, strongly object to this element. These groups want a focus on recycling, reuse, and a move toward a circular economy.

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