The report Injection Molded Plastic Market by raw material type (Polypropylene, Acrylonitrile Butadiene Styrene (ABS), Polystyrene, High Density Polyethylene (HDPE) and Others), by Application (Automobile, Consumer Goods & Electronics, Packaging, Building & Construction and Others) and by region (North America, Europe, Asia Pacific, Middle East & Africa and South America) is expected to reach US$ 532.15 Bn by 2026, at a CAGR of 6.29 % during a forecast period.
Injection molding involves the manufacturing of plastic products by injecting heated materials into a mold, where it is melted, cooled, and solidified to form the final product. Thermoplastic as well as thermosetting injection molded plastics are widely used for manufacturing several parts and components for numerous applications. The thermoplastic polymers used in injection molding, include polypropylene, LDPE, HDPE, polycarbonate, polystyrene, polyvinyl chloride, polyurethane, and polysulphone, among others. Additionally, epoxy resin, polyester, and melamine formaldehyde are some of the prominent thermosetting polymers used for injection molding.
However, rise or decrease in costs of processing raw materials required to make injection plastics is often passed onto the end consumers in the form of high product prices. This might discourage consumers who cannot afford expensive injection molded plastics, in turn making them cheaper alternatives, consequently hindering the global injection molded plastics market. Lack of skilled labor and shortage of feedstock in remote and underdeveloped regions is also fairly restraining this market up to a certain extent. Nevertheless, many key players are working hard towards introducing cost effective plastic solutions. This could reducing the intensity of restraints affecting the global injection molded plastic market’s growth during the forecast period.
Polypropylene segment are rapidly increasing during the forecast period.
Polypropylene dominate the injection molded plastics market in 2017, accounting for more than 26.5%. Polypropylene is preferred by the end users due to its low cost and compatibility with extensive variety of applications. Automotive components manufacturing, consumer goods production, and packaging are some of the foremost applications of injection molded polypropylene.
The Injection Molded Plastic Market in Asia Pacific region is expected to hold the largest share during the forecast period.
The Asia Pacific molded plastics market is expected to grow at the highest CAGR between 2017 and 2026. Increasing disposable income, rising purchasing power, growing urbanization, along with population growth, has led to industrial growth in the region. Government initiatives such as FDI have also encouraged international key players to build production units in the region. Hence, Asia Pacific has emerged as a manufacturing & production hub for automotive, packaging, chemical, food & beverages, electronics & electricals, and pharmaceuticals. These are the key factors to fuel the consumption of molded plastic in various applications.
Key players operating in the global injection molded plastic market are BASF SE, Exxon Mobil, DuPont, Dow Chemical Company, Huntsman Corporation, LyondellBasell, Eastman, SABIC, CNPC and INEOS. Key players and manufactures are focusing on entering the new market by producing and launching technically advance and cost-effective products in the market. Production capacity expansion, brand portfolio expansion, mergers, collaborations, joint ventures and acquisitions of innovative businesses is the key trend to foot hold and penetrate market.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about global injection molded plastic market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for taking in product strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global injection molded plastic market. The driving forces, as well as considerable restraints, have been explained in depth. in addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global injection molded plastic market positioning of competitors.
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