Plastics Industry Association chief economist Perc Pineda talks circularity and trend 2021 / “Improved global economic outlook should lead to higher plastics trade this year”
Perc Pineda (Photo: Plastics)
With the plastics industry receiving hope in big bundles as the economy reopens, Plasteurope.com’s New York-based freelance editor, Mikell Knights, catches up with Perc Pineda, the chief economist at US trade organisation, Plastics Industry Association (Plastics, Washington, D.C.; www.plasticsindustry.org), as he talks about the US outlook for equipment, circularity, and trade shows.

PIE: US equipment sector shipments increased for three consecutive 2020 quarters despite material disruptions, labour shortages and other supply-chain issues impacted by the pandemic (see Plasteurope.com of 20.07.2021). What is your outlook for the US market for the remainder of 2021 as we move into a post-pandemic phase?

Pineda: The outlook for the equipment sector of the US plastics industry remains favourable for the remainder of 2021. Strong demand for plastics is projected to continue in the second half of this year. This means, the strong first two-quarters of plastics equipment production will continue in the third and fourth quarter.

US economy recovered quicker than expected from last year’s slowdown. The plastics industry is a mature one and will track the growth of the economy. There are supply-chain difficulties as well as a low supply of skilled labour. It is an ongoing challenge for the whole manufacturing sector, given the strong bounce-back of manufacturing activity from Covid-19 restrictions. Eventually, supply-chain bottlenecks will ease as domestic and global economies reopen.

By and large, the plastics industry will remain upbeat, particularly as the economy moves into a more balanced consumption of both goods and services. An increase in plastics demand in the services sector is expected for the remainder of 2021. A much-improved global economic outlook should lead to higher plastics trade this year, compared to last year.

PIE: How is Plastics pushing the US industry to realise true circularity and to increase recycling rates?

Pineda: A key for circularity is developing new markets that make financial sense. For years, Plastics has been researching potential breakthroughs with our New End Market Opportunities programme, which focuses on improving reuse through recycling of plastics products, through collaboration among experts from across the supply chain, academia, and partnering trade associations on innovative demonstration projects. For example, these projects have helped demonstrate the recyclability of car bumpers and grocery bags, the reuse of plastics in asphalt roads, and enhanced material recovery through secondary sorting.

Additionally, we strongly advocate for investment in the recycling infrastructure necessary to put us on a path towards circularity.

PIE: What are the association’s plans for the remainder of 2021 regarding plastics trade shows?

Pineda: Plastics did not have any previously scheduled trade shows planned for the second half of 2021. However, we will transition from completely virtual meetings and events to hybrid gatherings later this year.

PIE: Thank you very much for the interview.

Now a primary staff expert at the trade organisation, Pineda’s industry experience spans over 20 years – including academia, international financial institution and trade association work. He taught macroeconomics at the St. Francis College (New York, New York; www.sfc.edu), besides teaching microeconomics, finance, and economics of regulations and the law at the City University of New York (www.cuny.edu). Before joining Plastics, Pineda was senior economist at the Credit Union National Association.
20.07.2021 Plasteurope.com [248097-0]
Published on 20.07.2021

© 2001-2021 Plasteurope.com  |  Imprint  |  Privacy  |  Cookie settings

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2021 by Plasteurope.com, Bad Homburg
Date of print: 05.08.2021 22:42:44   (Ref: 505181241)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp