Press release
Sales of Injection Molded Plastics Set to Soar in Asia-Pacific in Future
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The implementation of strict regulations regarding the usage of medical grade polymers in the healthcare industry is propelling the demand for injection molded plastics across the world. This is, in turn, creating excellent growth opportunities for the injection molded plastics producing companies around the world. Due to these factors, the global injection molded plastics market is exhibiting huge expansion. As a result, the market value is predicted to grow from $283.5 billion in 2016 to $496.2 billion by 2025.
Furthermore, the market is predicted to advance at a CAGR of 6.0% between 2017 and 2025. Depending on raw material, the market is divided into polypropylene, acrylonitrile butadiene styrene (ABS), polystyrene, high-density polyethylene (HDPE) categories. Out of these, the polypropylene category recorded the highest growth in the injection molded plastics market during the last few years. This was because of the huge requirement for the material in the household goods, automotive, and packaging sectors.
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Geographically, the injection molded plastics market will demonstrate the fastest growth in the Asia-Pacific (APAC) region in the upcoming years, as per the forecast of P&S Intelligence, a market research company based in India. This is credited to the mushrooming demand for packaging in the pharmaceutical, cosmetics and toiletries, and food and beverages industries and the ballooning consumption of soft drinks in the regional countries, on account of the rising average temperatures in these countries.
Hence, it can be said with surety that the demand for injection molded plastics will shoot up all over the world in the forthcoming years, primarily because of their growing usage in the packaging and automotive industries.
Contact:
Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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