The “Injection Molded Plastics Market” 2023-2032 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Injection Molded Plastics Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2032.
The global injection molded plastics market size was US$ 290.4 billion in 2021. The global injection molded plastics market size is forecast to reach US$ 521.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.30% during the forecast period from 2022 to 2032.
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By injecting molten material into a mold, where it is melted, cooled, and solidified to create the finished product, injection molding is a manufacturing method used to create plastic parts. In order to ensure accuracy and reduce waste, this procedure is employed in the manufacturing of many delicate and complex-shaped items. Plastics that have been injection-molded are utilized to make several assembly parts, packaging, and interior wrapping materials. Thermoplastic, thermoset, and elastomeric materials are the three types of materials used in the injection molding process.
Factors Influencing Market Growth
The rising demand for plastic components from various end-use industries, including automotive, packaging, home appliances, electrical & electronics, and medical devices drive the global market.
The changes in prices of raw materials, such as benzene, ethylene, propylene, and styrene, and the increasing concerns regarding their environmental effect may slow down the overall market growth.
Less production waste and a rising production process boost the global market growth.
The technological advancements in molding technology are forecast to offer lucrative opportunities for the global market.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. Several governments worldwide enacted lockdowns in order to curb the virus from spreading. This led to travel restrictions, which impacted the supply of injection molded plastics. In addition, due to the closure of various end-users, the demand for the product decreased.
However, with the lift in lockdown owing to the availability of vaccines, the market is growing at a steady rate and is forecast to have substantial growth over the forecast period.
Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the rising infrastructure spending and the increasing automobile demand. In addition, the tax benefits offered by the government to manufacturers have increased the shifting of manufacturing base to countries such as India, China, Indonesia, and Thailand.
Europe is forecast to have considerable growth during the forecast period. As a result of the rising demand for electronic appliances, such as laptops and cellular phones, and the growing automotive sector.
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Leading Competitors
The leading prominent companies profiled in the global injection molded plastics market are:
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
Other Prominent Players
Scope of the Report
The global injection molded plastics market segmentation focuses on Raw Material, Application, and Region.
Segmentation based on Raw Material
Polypropylene
Acrylonitrile Butadiene Styrene (ABS)
Polystyrene
High-Density Polyethylene (HDPE)
Others (Polyamide and Polyvinyl Chloride)
Segmentation based on Application
Packaging
Electrical and Electronics
Automotive and Transportation
Building and Construction
Healthcare
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Key questions answered in the global market report are:
— How does a global company acquire markets?
— What are its core strategies and policies?
— What factors will influence the market over the forecast period?
— What are the factors driving and restraining the market?
— What are the leading competitors in the global market?
— Which region is growing at a higher pace in the global market?
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