Plastics Industry Association (PLASTICS) Market Research Report

Background

Overview

The Plastics Industry Association (PLASTICS), formerly known as the Society of the Plastics Industry (SPI), is a non-profit trade association established in 1937. Headquartered in Washington, D.C., PLASTICS represents the entire plastics supply chain, encompassing material suppliers, processors, equipment manufacturers, moldmakers, and recyclers. The association's mission is to protect, promote, and grow the plastics industry by fostering collaboration, advancing sustainability, and advocating for policies that support the industry's growth.

Mission and Vision

PLASTICS is dedicated to:

Advocacy: Advancing legislative and regulatory priorities across all levels—international, federal, state, and local—to support the plastics industry.

Communications: Proactively sharing the plastics industry's stories through various media channels, promoting plastics as the material of choice, and providing timely responses to the news cycle.

Engagement: Bringing together industry stakeholders to monitor market trends, spearhead projects, and lead programs that support the entire supply chain.

Sustainability: Helping members set and achieve industry-leading environmental goals, making sustainability a reality within the industry.

Key Strategic Focus

Core Objectives

PLASTICS focuses on:

Enhancing the global competitiveness of its members.

Advancing sustainability initiatives to keep plastic out of the environment and promote a circular economy.

Promoting plastics manufacturing as a viable career option.

Providing education about plastics to both the industry and the public.

Supporting technology-driven innovation to solve industry challenges.

Changing public perceptions about plastics and highlighting their positive impact on daily life.

Advocating on behalf of members to enact sustainable policies and foster business growth.

Areas of Specialization

PLASTICS specializes in:

Advocacy and policy development.

Industry communications and public relations.

Member engagement through councils, committees, and events.

Sustainability and recycling initiatives.

Market intelligence and data analysis.

Key Technologies Utilized

PLASTICS leverages:

Data analytics for market intelligence.

Digital platforms for member engagement and communication.

Sustainability metrics and reporting tools.

Primary Markets Targeted

PLASTICS serves:

Material suppliers.

Processors and converters.

Equipment manufacturers and moldmakers.

Recyclers.

Brand owners.

Financials and Funding

Funding History

As a non-profit organization, PLASTICS is funded through membership dues, event revenues, and other services. In the fiscal year ending December 2023, PLASTICS reported:

Revenue: $11.6 million.

Expenses: $20.4 million.

Net Assets: -$1.28 million.

Recent Funding Rounds

Specific details about recent funding rounds are not publicly disclosed, as PLASTICS operates as a non-profit entity.

Notable Investors

As a trade association, PLASTICS does not have investors but is supported by its member organizations.

Utilization of Capital

The funds are utilized for:

Advocacy and policy initiatives.

Member services and engagement.

Educational programs and events.

Sustainability and recycling projects.

Pipeline Development

As a trade association, PLASTICS does not have a product pipeline but focuses on:

Developing industry standards.

Advocating for policies that support industry growth.

Organizing events like NPE: The Plastics Show to showcase industry innovations.

Technological Platform and Innovation

Proprietary Technologies

PLASTICS develops and maintains industry standards and technical reports, serving as an ANSI-approved accredited standards developer.

Significant Scientific Methods

PLASTICS employs data analytics and digital platforms to provide market intelligence and member engagement.

Leadership Team

Executive Leadership

Matt Seaholm: President & CEO. Leads PLASTICS, focusing on advancing the association's mission and strategic objectives.

Glenn Anderson: Chief Operating Officer. Oversees daily operations, ensuring effective implementation of PLASTICS' programs and services.

Wayne Popham: Chief Financial Officer. Manages financial operations, ensuring fiscal responsibility and sustainability.

Competitor Profile

Market Insights and Dynamics

The plastics industry is a significant sector within the global economy, encompassing material suppliers, processors, equipment manufacturers, and recyclers. The industry faces challenges related to sustainability, regulatory changes, and public perception.

Competitor Analysis

PLASTICS operates in a unique position as a trade association without direct competitors. However, other industry associations include:

American Recyclable Plastic Bag Alliance (ARPBA): Focuses on the plastic bag manufacturing and recycling industry.

Plastindia Foundation: Promotes the development of the plastics industry in India.

Plastics Institute of America: Advances the industry through education and research.

Strategic Collaborations and Partnerships

PLASTICS collaborates with various councils, committees, and divisions to advance industry standards, sustainability, and innovation. Notable collaborations include: