Injection-molding is a new technique used in the plastics industry for the manufacture of plastic products in varying shapes and sizes. Various polymers are used in the method owing to its compatibility and the demand across industries of construction, automotive, electrical & electronics, and healthcare. The global Injection-molded Plastics Market report by Market Research Future (MRFR) contains insights and suggestive countermeasures for the period of 2023 to 2030 (forecast period). The impact of the COVID-19 pandemic on the industry has been noted.
The global injection-molded plastics market is projected to exhibit a CAGR of 5.78% to reach USD 420.6 Billion by 2030. Applications of injection-molded plastics across construction, automotive, and packaging sectors, malleable nature, and ease of recycling can drive the market demand significantly. Use of robotics in the production line for lowering costs and minimal errors can lead to sufficient market growth in the coming years. Paint Pail In Mold Label
Establishment of plastic molding companies in China owing to subsidies by the government will bode well for the market. It can take advantage of the presence of various industrial hubs in the country to gain growth. The COVID-19 pandemic has brought global economic trade to a standstill and negatively affecting the global injection-molded plastics market. Procurement of resins and reducing inconsistencies in the production chain are prime strategies of industry leaders to tackle the pandemic.
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The global injection-molded plastics market has been segmented by raw material type and application.
By raw material type, the polypropylene segment accounted for the largest market share of around 44% in 2018 due to its superior properties, which leads to its wide use in the manufacturing of pipes, pallets, food packaging, and automobile interior parts, among others.
Based on application, the packaging segment accounted for the largest market share in 2018. The segment is also expected to register a CAGR exceeding 6% during the forecast period. The growth of this segment is attributed to the large-scale consumption of injection-molded packaging products such as caps and closures and rigid bulk packaging. The use of high-density polyethylene (HDPE) for the manufacture of bin liners and gauge bags can drive the segment growth.
Geographically, the global injection-molded plastics market has been divided into Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa (MEA).
APAC held the largest market share of around 48% in 2018 due to rapid industrialization and urbanization in the region. The regional market is expected to register a significant CAGR during the forecast period due to heavy demand for plastic components. China and India are expected to be the major growth-centric markets for injection-molded plastics in the region. The increase in foreign direct investments and prime government support can influence the regional market growth.
Europe is expected to be the second-largest market for injection-molded plastics and is expected to register a CAGR of over 5% during the forecast period. Germany can be one of the biggest contributors of the regional market.
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1.1.1 GLOBAL INJECTION MOLDED PLASTIC MARKET, BY TYPE 19
1.1.2 GLOBAL INJECTION MOLDED PLASTIC MARKET, BY APPLICATION 20
1.1.3 GLOBAL INJECTION MOLDED PLASTIC MARKET, BY REGION 21
4.2.1 ADVANTAGES OF INJECTION MOLDED TECHNOLOGY 30
4.2.2 HIGH DEMAND FOR INJECTION MOLDED PLASTICS IN THE PACKAGING INDUSTRY 30
4.2.3 INCREASING DEMAND FOR INJECTION MOLDED PLASTICS ACROSS VARIOUS END-USE INDUSTRIES 31
4.3.1 HIGH CAPITAL INVESTMENT, EXPENSIVE MOLD REDESIGNING, AND HIGH TURNAROUND TIME 33
4.4.1 USE OF ROBOTICS IN INJECTION MOLDING 33
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Chevron Phillips Chemical Company, BASF SE, DowDuPont, Eastman Chemical Company, LyondellBasell Industries Holdings B.V., Huntsman International LLC, SABIC, Reliance Industries Limited, INEOS Group Holdings SA, and Exxon Mobil Corporation are key players of the global injection-molded plastics market.
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