U.S. demand for plastics grew at an astonishing rate in 2013, creating a global, game-changing position for the domestic plastics-manufacturing industry.

Even better: The U.S. economy is currently seeing record-high levels of activity for industrial production, a robust gross domestic product, and where the economy goes, so does plastics demand, according to many industry analysts.

In its recent 2014 Global Business Trends analysis, the Society of the Plastics Industry (SPI) reported that U.S. demand for plastic products grew 6.5% last year—from $252 billion in 2012 to $267 billion in 2013—beating the previous record high of $262.6 billion established in 2006.

The report examined U.S. trade data on an industry-wide basis for 2013, broken down into four industry sectors: resins, plastic products, molds and machinery.

During a Dec. 10 SPI webinar referencing the new analysis, president and CEO William R. Carteaux stated: “Plastics remain a large and dynamic industry—one of the fastest growing in the nation and across the world.”

With abundant shale-gas supplies in North America, U.S. plastics producers are taking advantage of inexpensive feedstock, including ethylene, a key chemical building block for polyethylene (PE)—the most common plastic used for packaging production.

“Shale gas is really a game-changer any way you define it. It’s not the only one that’s out there but it’s really a big one,” Michael Taylor, SPI senior director, international affairs and trade, told DownstreamBusiness.com recently.

“You can see that it [shale gas] is a real multiplier; it impacts all through at the supply chain down to the consumers. So I think the benefits are going to be notable and their going to continue,” Taylor added.

The SPI study also revealed that Mexico and Canada remain the U.S. plastics industry’s largest export markets, with export volumes totaling $14.9 billion and $12.5 billion, respectively, in 2013. The plastics industry also saw its largest trade surplus ever with Mexico last year—$10.8 billion.

While China represents the global plastic industry’s third-largest export market, the industry recorded its largest trade deficit ever in 2013—$8.5 billion, SPI data also showed.

Another report highlight involved the resin sector, which saw a $20.5-billion surplus last year, Taylor said.

“The U.S. resin-trade surplus has grown strongly in dollar terms, falling off a little during the 2008-2009 recession, and then in 2012-2013 because of strength in the U.S. economy relative to the rest of the world,” the report observed.

Regarding the resin sector—polyvinyl chloride, which is used in packaging, electronics and healthcare applications—showed to be the top export resin in 2013, followed by PE

“Because of shale gas, the U.S. has a very strong cost positions in both of these polymers,” the report further noted. “The domestic industry, which relies primarily on gas-based feedstock, continues to have a significant cost advantage over the majority of overseas resin competitors that use crude oil-based feedstocks.”

According to Taylor, around 80% or more of resins and polymers are made from natural gas.

“Reshoring” was also cited for last year’s surge in plastics demand. The term relates to manufacturing companies previously “offshored” in other countries that are now returning to the U.S.—thus enhancing the domestic manufacturing-trade balance.

During SPI’s recent webinar, Carteaux also noted: “The U.S plastics industry is healthy and getting healthier,” and will continue to be “a major player in the world’s economy.”

The $374-billion plastics industry represents the third-largest manufacturing sector in the U.S., with about 18,500 plastic facilities throughout the country, SPI data shows.