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Injection Molded Plastics Market Size, Share & Trends Analysis Report, By Raw Material, By Application, By Region And Segment Forecasts From 2022 To 2030

Report ID: MN17612981  |  Published: October 2022  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Plastics

The global injection molded plastics market is expected to witness USD 423.7 billion by 2030 and exhibit a CAGR of 4.2%. The use of plastic components in end-use industries like home appliances, packaging, automotive, medical devices, and electronics is anticipated to drive the industry’s growth during the forecast period. Additionally, factors such as advanced innovations to produce complex plastic shapes, and volatility in the price of raw materials are likely to propel the market growth during the forecast period.

The growing concern regarding the disposal of raw materials like ethylene, styrene, and benzene is a major challenge that tends to hinder the growth of the industry. To overcome this, organizations across the world are focused on the growth of injection-molded plastics with the use of bio-based counterparts. For instance, the biodegradable polymer is a renewable resource, used to overcome environmental disruptions such as plastic disposals in landfills. Biodegradable polymers are recommended to be highly used in the packaging industry with the aim to protect the environment as well as maintain public health.

Government support for financial incentives and tax benefits, especially in countries like China and India has resulted in an increase in the flow of foreign direct investment (FDI). This has successfully developed the growth of plastics, thus likely boosting the industry during the forecast period. Additionally, reduction in the labor cost significantly lowers the manufacturing cost for producers and this shift resulted in the overproduction of a variety of plastic products, thereby increasing the demand and contributing to the industry growth.

In terms of segment, polypropylene held the largest revenue share in the market due to its extensive use in household products, packaging applications, and automotive components. Additionally, the increasing penetration of polypropylene in battery housings, packaging, and protective caps in electrical contacts is propelled to drive demand during the forecast period. Polypropylene offers resistance to corrosion and offers better insulation properties to electrical systems, which is one of the major advantages of using polypropylene for electrical devices.

In terms of region, the Asia Pacific dominated the injection molded plastics market owing to increased spending on infrastructure along with the growing demand for automobiles in countries like Indonesia, India, Malaysia, and China. Major end-use sectors like automobiles and electronics effectively shifted the manufacturing base in countries like Thailand, China, and Indonesia due to reduced labor costs and the manufacturers in these countries receive government incentives as tax benefits. All these factors are expected to boost the demand for the product in the Asia Pacific during the forecast period.

The industry has a presence of fragmented and unorganized companies especially, in Latin America and Asia Pacific. Key players from these regions are particularly focused on gaining capacity for many years with the purpose to take advantage of operational superiority as well as accompany economies of scale. With a more differentiated and diversified portfolio of the product, the market can become competitive in terms of distribution and price channels, which is likely to increase the industry’s growth.

Injection Molded Plastics Market Report Key Takeaways

  • In 2021, the polypropylene segment accounted for the largest revenue share at 34%. The polypropylene penetration in the protective caps of battery housings, food packaging, and electrical contacts are the factors striving to uplift the segment’s growth during the forecast period
  • Rise in demand for acrylonitrile butadiene styrene (ABS) made it the second-largest raw material in 2021. The use of ABS in automotive components, medical devices, consumer appliances, and electronic housing is likely to drive its growth in the forecast period
  • In 2021, the packaging segment held the largest revenue at 30%. The reasons driving the segment’s growth are improved shelf life, suitable wear, high durability, and tear resistance. Injection-molded plastics have a huge potential and are readily utilized in the automotive and medical sectors, which is expected to contribute to the industry’s growth
  • In 2021, the Asia Pacific emerged as the global market with the highest revenue accounting for 39%. The demand for automobiles in countries like India, China, Malaysia, and Indonesia is projected to boost the market penetration during the forecast period
  • Resin formulations were developed in 2021 as a technology addition to injected molded plastics. This technology provides increased strength, reduces weight, and constitutes product durability, thus making injection molding a suitable option for products and boosting the industry’s growth in the forecast period


Injection Molded Plastics Market Segments

  • Injection Molded Plastics Raw Material Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)
    • Polypropylene (PP)
    • Acrylonitrile Butadiene Styrene (ABS)
    • High-Density Polyethylene (HDPE)
    • Polystyrene (PS)
    • Others
  • Injection Molded Plastics Application Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)
    • Packaging
    • Consumables & Electronics
    • Automotive & Transportation
    • Building & Construction
    • Medical
    • Others
  • Injection Molded Plastics Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 - 2030)
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
    • Asia Pacific
      • China
      • India
      • Japan
    • Central & South America
      • Brazil
    • Middle East & Africa
      • Saudi Arabia
  •  List of Key Players in Injection Molded Plastics Market
    • ExxonMobil Corp.
    • BASF SE
    • DuPont de Nemours, Inc.
    • Dow, Inc.
    • Huntsman International LLC
    • Eastman Chemical Company
    • INEOS Group
    • LyondellBasell Industries Holdings B.V.
    • SABIC
    • Magna International, Inc.
    • IAC Group
    • Berry Global, Inc.
    • Master Molded Products Corp.
    • HTI Plastics, Inc.
    • Rutland Plastics
    • AptarGroup, Inc.
    • Lacks Enterprises, Inc.
    • The Rodon Group
    • Heppner Molds
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