Injection Molded Plastic Market Trend 2018 Global Players ExxonMobil, BASF, Dow, Huntsman Corporation, Eastman Chemical Company, INEOS, SABIC, IAC group, Magna International

North America injection molded plastic market, dominated by the U.S., is slated to depict a CAGR of 4.8% over 2016-2023 demand, supported by the expansion of the F&B packaging and construction sectors.

Forming an essential fragment of the global plastics sector, Injection Molded Plastic Market has established itself as one of the most dynamically evolving businesses of recent times. The injection molding process is one of the most commonly-used plastic formation technique across myriad industrial sectors, subject to the absolute ease and convenience provided by this methodology.

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Global injection molded plastic market size stood at 100 million tons, and has been forecast to record a CAGR of 5% over the forthcoming years. With a widespread spectrum of applications across the automotive, packaging, construction, and consumables & electronics sectors, injection molded plastic industry has indeed embarked on a highly profitable growth path since its inception.

The automotive sector will stand as one of strongest growth drivers of injection molded plastic market. As per estimates, automotive & transportation applications are slated to witness gains of more than 5.7% over 2016-2023. The Corporate Average Fuel Economy (CAFE) has implemented regulations to produce low-fuel consumption cars, which will spur the business expansion. The production of lightweight automobiles will also boost injection molded plastics industry – estimates claim that even a mere 10% reduction in car weight will lead to saving around 5% to 7% of fuel.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Exxon Mobil Corp.
2. BASF SE
3. E.I. du Pont de Nemours & Co. (DuPont)
4. The Dow Chemical Company
5. Huntsman Corporation
6. Eastman Chemicals
7. INEOS Group
8. LyondellBasell
9. SABIC
10. Magna International Inc.
11. IAC Group
12. Berry Plastics
13. Newell Rubbermaid
14. Becton Dickinson

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The process of injection molding has penetrated most of the plastics manufacturing sectors, and is used to develop a range of plastic products, right from wheelie bins and car bumpers to micro parts for packaging. Manufactured from materials such as ABS (acrylonitrile-butadiene-styrene), nylon PA, polycarbonate, HDPE, and polypropylene, injection molded plastic products are liberally used across a plethora of manufacturing sectors. It is therefore, evident that the changing trends of the manufacturing sector will have a profound effect on the growth path of injection molded plastic industry.

Experts have rightly stated that injection molding can be qualified as one of the greatest technologies ever conceptualized, that has transformed the outlook of the global plastic sector. The advent of 3D printing has cast a momentary gloom on the growth spectrum of injection molded plastic market, especially since the former is reputed for the production of finished prototypes, however, industry players have been concentrating on bringing forth newer techniques to develop a range of plastic models that may be more flexible and affordable.

Keeping abreast of the latest trends, companies operating in injection molded plastic industry have also begun to concentrate on the development of bio-based plastics. Also, they ultimately intend to reduce the dependency factor on crude oil subject to strict environmental legislations enforced by regulatory bodies, which may lead to the generation of lucrative investment opportunities, thereby creating a favorable growth path for injection molded plastic market.

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Injection molded plastic market giants such as BASF, SABIC, Eastman, Dow, ExxonMobil, INEOS, and Huntsman have been deploying these robots to streamline the process of injection molding and develop highly efficient plastic products within a lesser amount of time. Robots apparently provide more leeway and lend flexibility to the manufacturing process, thereby leading to the expansion of injection molded plastic industry. In fact, highly sophisticated robots can also be used to manufacture customized products, especially across the automotive sector.

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