Injection Molded Plastics Market Will Rise As Of Growing Demand For Plastic Components From Various End-Use Industries

 Injection Molded Plastics Industry Overview

 

The global injection molded plastics market size was valued at USD 284.7 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 4.2% during the forecast period.

 

The growing demand for plastic components from various end-use industries including automotive, packaging, home appliances, electrical & electronics, and medical devices is anticipated to drive the market. Modern innovations to minimize the rate of faulty production have enhanced the significance of injection-molded technology in the mass production of complicated plastic shapes. Volatile prices of raw materials, such as benzene, ethylene, propylene, and styrene, coupled with the growing concerns regarding their disposal are expected to hinder market growth over the forecast period.

 

Gather more insights about the market drivers, restrains and growth of the Global Injection Molded Plastics Market

 

Companies focus on developing injection molded plastics using bio-based counterparts to overcome such challenges. Increasing construction spending, particularly in emerging markets, such as Brazil, China, India, Mexico, Russia, and South Africa, is expected to drive product demand. Versatile properties of finished products including better heat & pressure resistance make them more applicable to various industries. Government support in the form of tax benefits and financial incentives in China and India to increase the Foreign Direct Investments (FDI) flow has helped develop the market for plastics in these countries.

 

In addition, they offer low-cost labor, which further reduces the overall manufacturing cost for producers. However, this shift has resulted in the overcapacity of various plastic products, affecting their prices. However, a slowdown or halt in manufacturing activities to contain the spread of the coronavirus has led to a decline in the consumption of injection molding plastics and negatively impacted its demand in various applications across the globe.

 

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

• Acrylonitrile Butadiene Styrene Market - The global acrylonitrile butadiene styrene (ABS) market size was estimated at USD 23.09 billion in 2016 and it is projected to witness a CAGR of 7.1% over the forecast period. Considering the lightweight properties of ABS, which aids in high fuel efficiency, demand for the same is likely to increase in the automotive industry.
• Industrial Plastic Market - The global industrial plastic market size was valued at USD 72.28 billion in 2019 and is expected to witness significant growth in the forthcoming years. Recent developments in the industrial sectors, including electrical and electronics and automobile, are likely to drive the demand for lightweight industrial plastic components in these application segments. Increasing use of environment-friendly and energy-saving products is also expected to positively influence market growth.

 

Injection Molded Plastics Market Segmentation

Grand View Research has segmented the global injection molded plastics market report based on raw material, application, and region:

• 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
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Market Share Insights

• August 2020: Avient Corporation (Formerly PolyOne) introduced injection moldable thermoplastic elastomers to its Versaflex series. The product was formulated without animal derivatives and is able to serve a variety of medical device applications.
• June 2020: Pacific Plastics Injection Molding, a part of Diversified Plastics Inc., added 5,000 square feet of office and production space to its existing facility in California. This expansion was done to improve the production and safe operation.

 

Key Companies profiled:

Some of the prominent players in the global injection molded plastics market include:

• 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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