The US resin shortage in 2022 has been a major concern for the plastic industry and businesses that rely on plastic materials. The shortage has resulted in higher demand and prices for plastic resin.
The shortage can be traced back to the ongoing impact of COVID-19 and the severe winter storms in the South in 2022. The pandemic caused disruptions in production and delivery, while the storms forced oil refineries to shut down, leading to a rise in resin prices.
This shortage has affected various sectors across the US. It has resulted in high demand for resins such as polyethylene, nylon, PC, epoxy, polyester, and vinyl, which has outstripped the supply. This has made it challenging for manufacturers to acquire the materials they need.
As we enter 2023, it’s expected that the economy will experience a soft landing rather than a recession. The demand for plastic should improve as businesses work through their excess inventory. Resin supply is expected to be abundant compared to the past two years, thanks to new PE and PP capacities in the US and China and a decrease in supply chain and energy costs.
You are your business’s hero, fighting daily to keep your operations running smoothly. And when it comes to securing the supplies you need, especially poly bags or industrial packaging materials, the challenges can seem impossible. But don’t worry. Hercules Inc. is here to help.
As small business specialists, we understand the challenges you face. That’s why we offer a wide range of standard and custom-sized bags, with faster lead times than other suppliers. Thanks to our consistent global partnership. You’ll always have the supplies you need when you partner with us.
It’s time to stop struggling and start thriving. Let Hercules Inc. be your trusted partner in securing your most critical supply needs. With 30 years of experience in the poly industry, we’re here to help you overcome any obstacle and reach the next level of success.