The global injection molded plastics market size is expected to reach USD 390.4 billion in 2028 and register a revenue CAGR of 4.6% over the forecast period, according to the latest report by Reports and Data. Major factors driving market revenue growth include increasing applications of injection-molded plastics in food packaging, pharmaceutical packaging, electronics packaging, and manufacture of various automotive components and construction materials. Increasing use of these plastics for their robust flexibility, leak resistance, recyclability and reusability, and microwavable properties is another key factor driving the global market growth.
Thermoplastic injection molding is a manufacturing process that that involves injection of plastic resin into pre-made molds to produce a variety of objects including food packaging, interior wrapping materials, pharmaceutical packaging, automotive components, construction materials, industrial components, apparel & footwear, and others. The most common thermoplastic polymers used in this process include acrylonitrile butadiene styrene (ABS), polyethylene, polycarbonate, polyamide (nylon), polypropylene, and high-impact polystyrene.
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Some Key Highlights from the Report:
- Based on raw material type, the polypropylene segment dominated other segments in 2020, with the highest revenue share of 34.2%. Steady growth of this segment is majorly attributed to factors such as rising demand for automotive components, household appliances, and environmentally sustainable packaging materials. Growing use of polypropylene in packaging of food, pharmaceutical products, and electronic products owing to its viable properties such as high corrosion resistance and electrical insulation is another major expected to boost this segment’s the revenue growth over the forecast period.
- Based on application, the packaging segment held the highest revenue share of 30.8% in 2020 and is projected to register a steady CAGR over the forecast period. Growing need for eco-friendly and sustainable packaging solutions, increasing adoption of the injection molding technology in the packaging industry, and surging need for increased shelf life and durability of consumer products – especially food & beverage and pharmaceutical products – are major factors driving the revenue growth of this segment.
- Among regional markets, the Asia Pacific injection molded plastics market emerged as the most dominant in 2020 with a robust revenue share of 38.8%. According to the report, the regional market is expected to maintain its dominance throughout the forecast period. Escalating demand for automobiles and rising number of industrial manufacturing facilities, mainly in developing countries including India, China, Malaysia, and Indonesia, are major factors driving market growth in this region. Increasing construction activities, growing demand for consumer electronics, and rapid adoption of sustainable packaging solutions further bolster the Asia Pacific market revenue growth.
- The most renowned companies operating in the global injection molded plastics market include DOW, NOVA Chemicals, Sinopec, Sinopec, Honeywell International, Chevron Phillips Chemical, Lanxess, LyondellBasell Industries Holdings B.V., Eastman Chemical Company, Huntsman International LLC, DuPont, Borealis Reliance Industries Limited, Teijin, SABIC, Shin-Etsu Chemical ExxonMobil, Mitsubishi, Ineos, Evonik, and BASF.
Raw Material Outlook (Revenue, USD Billion; 2018-2028)
- Polypropylene
- ABS
- HDPE
- Polystyrene
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Packaging
- Consumables & Electronics
- Automotive & Transportation
- Building & Construction
- Medical
- Others
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Injection Molded Plastics Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Injection Molded Plastics Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Injection Molded Plastics Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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