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Supply Market Intelligence for Procurement Professionals by Kelly Barner, Jeanette Jones

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PLASTICS

A plastic is “a type of synthetic or man-made polymer; similar in many ways to natural resins found in trees and other plants.”1 The plastics industry is the third largest manufacturing industry in the United States.2 Because polymer manufacturing is a sector of the petrochemical and chemical industries, a polymer producer is likely to be the division of a bigger petrochemical or chemical company.3

Due to an increase in the production of shale oil and gas as a result of the fracking boom, the plastics industry is anticipating growth after the 2008 economic downturn. “Resin manufacturers are taking advantage of increased oil and gas output ...

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