Injection Molded Plastic Market is Expected to Reach $162 Billion, Globally, by 2020

Global Injection Molded Plastics Market is estimated to reach $162.1 billion by 2020, growing at a CAGR of 4.9% during 2015-2020. Injection molding is a manufacturing process for producing plastic products by injecting molten material into a mold where it is melted, cooled and subsequently solidified as the final part or product. Both thermoplastic and thermosetting injection molded plastics are used for manufacturing of various parts and components across industries. The major thermoplastic polymers used in injection molding are polypropylene, low-density polyethylene, high-density polyethylene, polycarbonate, polystyrene, polyvinyl chloride, polyurethane, polysulfone etc. Epoxy resin, polyester and melamine formaldehyde are some of the thermosetting polymers used for injection molding purpose.

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Increasing demand of injection molded plastics in several end use industries such as automotive, packaging, electronics & consumer goods, building & construction, medical disposal, and technological advancements (such as computer aided engineering and automation in injection molding process) is augmenting the growth of the market. Furthermore, low labor cost, minimum waste production, faster production, and ability to process multiple raw materials simultaneously are further boosting the market growth. However, volatility in crude oil prices and high initial tooling cost of injection molding would impede the overall market growth.

The packaging will remain dominant market application during 2014-2020. This is primarily due to its increasing adoption in consumer goods, healthcare and cosmetics products. Healthcare segment is the fastest growing end use market owing to its increased usage in the production of tubes and housings for needles, pregnancy test devices, and surgical blades among others.

Key Findings of Injection Molded Plastic Market

- Healthcare to be the fastest growing end use industry segment.

- Packaging to remain dominant application segment throughout the forecast period.

- Acrylonitrile butadiene styrene segment to exhibit highest growth during the forecast period.

- Rising demand of packaging in automotive and consumer goods to make polypropylene the most lucrative segment, specifically due to its low cost, easy to mold nature and heat resistance.

- North America and Europe are the dominant geographies, collectively held about 66% market share in 2014.

North America and Europe has been prominent consumers of injection molded plastics, largely due to high demand from packaging and automotive industries. Asia Pacific hosts one of the fastest growing automotive, healthcare, consumer goods, and semiconductors industry and hence offer lucrative growth opportunities for injection molded plastics market in the region. Moreover, China, Japan and India are leading markets in terms of consumption and revenues for injection molded plastics in the region.

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The injection molded plastics industry is fast moving and continuous product improvement is most required to remain competitive. Continuous innovation in design, specificity, and customization has led to the frequent launch of new and advance products, resulting into adoption in newer applications. Further, key players have been exploring collaborations and joint ventures as a mean to leverage high growth markets. Key companies profiled in the report are BASF, Exxon Mobil, DuPont, Dow Chemical Company, LyondellBasell, Huntsman Corporation, Eastman, SABIC, INEOS, and CNPC.

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