The US plastics industry has emerged as one of the few winners of the Iran war.
Oil is the key raw material for plastics, and production has been scaled back in Asia, Europe, and the Middle East, sending prices soaring.
US chemical companies have stepped up their own output and hiked prices accordingly, good news for a sector struggling with overproduction and decreased demand in recent years.
It is less rosy for US consumers, who will see rising prices across industries from packaging and construction to auto manufacturing and health care. Plastics are not the only industry whose chief inputs have been hit by the war: Cosmetics, fertilizers, textiles, and others will all see shortages and price rises, OilPrice.com reported.
