The pandemic has wreaked havoc on the historically stable plastic resin industry. Disruptions in the global supply chain, increasing demand for plastic packaging materials, and plastic production shutdowns have led to a severe spike in the price of plastic goods.

Why is plastic more expensive?

With the rise of global supply chain disruptions due to customer demand, the plastic resin market is preparing for multiple cost increases as we head into March. Additional price increases for various resin-based plastic packaging supplies are expected to occur over the next few months.

How expensive is plastic?

The regional average is currently 9.63 cents per pound, up from 9.13 cents per pound in February and 7.25 cents in January. The average price for natural high-density polyethylene (HDPE) continues to reach new highs. The plastic is now averaging 77.25 cents per pound nationally.