Global Injection Molded Plastic Market is anticipated to reach USD 496.22 billion by 2025. Injection molding is a method of manufacturing parts by injection of molten materials into a mold to get a preferred size and shape of the product. This procedure is used on several substrates such as elastomers, metals, glasses, but are mostly used in thermosetting polymers and thermoplastics.
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Key Players:
Key players operating in the
injection molded plastic market include HTI Plastics, The Dow Chemical Company,
BASF SE, Newell Rubbermaid, DuPont, INEOS Group, Nypro Incorporation, Rutland
Plastics, LyondellBasell Industries, Berry Plastics Group, SABIC, Huntsman
International Corporation, Becton Dickinson and Magna International
Incorporation.
Growth Drivers:
Factors, such as growing
construction activities in developing markets, increasing saturation in an
automotive application, positive outlook of the packaging industry,
technological advancement and rising disposable income are likely to drive the
injection molded plastic industry in the forthcoming period.
On the other hand, unstable
prices of key raw materials that include propylene, benzene, and styrene and
rising environmental concerns related with their disposal are anticipated to
hinder injection molded plastics market growth in the future. However, rise in
spending on construction specifically in growing markets is likely to create
lucrative opportunities for the market.
Injection molded plastic industry
is expected to expand at a CAGR of 6.0% in the upcoming period as the scope,
product types, and its applications are increasing across the globe. Injection
molded plastic market is segmented by raw material type, application,
distribution channel, and geography.
Injection molded plastics
industry is segmented by raw material type as High-Density Polyethylene,
Acrylonitrile-Butadiene-Styrene, Polypropylene, Polystyrene, and Others. The
“Polypropylene” segment accounted for a prominent share in the market. It is
likely to witness substantial growth in the years to come. The key factors that
could be attributed to the growth of the market include increasing consumption
of household goods, packaging applications, and automotive components.
The key applications that is
segmented in the injection molded plastics market include Consumer Goods &
Electronics, Automobile, Building & Construction, Packaging, and
Healthcare. The “Packaging” segment accounted for a prominent share in the
market. It is likely to witness substantial growth in the years to come. The
key factors that could be attributed to the growth of the market include
increased shelf life of food products, improved resistance towards tear and wear,
and high strength is a limited requirement of plastics that need to meet for
packaging applications. The injection molded plastic industry is segmented
based on distribution channel as Offline and Online distribution.
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