Injection Molded Plastics Market worth US$ 410 Bn by 2027

Transparency Market Research has recently published a new research report that talks about the overall landscape of the global injection molded plastics market. The research report tries to cover the landscape of the global market over the course of the forecast period ranging from 2019 to 2027. The research report tries to provide key details on various aspects of the global injection molded plastics market such as application, functionality, type of product, end user, and regional segmentation.

In terms of value, the global injection molded plastics market was stood around US$ 250 Bn in 2018 and is anticipated to expand at a CAGR of more than 5% from 2019 to 2027. Packaging was the biggest application segment for injection molding plastics. Packaging finds its application in both consumers packaging and industrial as both flexible and rigid packaging. Packaging shared more than 30% of the market volumes share as an application for injection molded plastics in 2018, closely followed by consumables & electronics and automotive & transportation in 2018. However, consumables & electronics is expected to exhibit significant growth rate between 2019 and 2027 compared to other applications

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Rising Applications Segments to Help Market Grow More

Injection molding is a very wide term which involves process of molding metals, ceramics, plastics and some other compounds. Injection molding is commonly associated with plastics. There are several other molding techniques by which plastics are molded; some of them include blow molding and extrusion. But, injection molding is the most widely used molding technique used for plastics globally. Injection is the leading manufacturing process used for molded plastics accounting for close to 50% of all the molded plastics in 2018. Increasing in demand for plastic components from various end-use industries such as packaging, consumer goods and electronics, automotive and medical devices is anticipated to drive the growth. Companies are also focusing injection molding innovations to minimalize the rate of faulty production which has created a significant impact towards the demand of injection molded plastic components at global level.

Based on raw material, polypropylene was the leading material in 2018 and is projected to exhibit significant growth rate during the forecast period 2019 to 2027. Based on region, Asia Pacific held major share in 2018 and is expected to grow at significant rate compared to other region between 2019 and 2027. Growing automotive & transportation owing increase in usage of lightweight and electric vehicles is the major factor for the growth. The injection molded plastics in North America and Europe is expected to exhibit moderate growth rate during the forecast period. Increasing usage of special shape and design house ware products which can only be provided using injection molding, followed by increasing in demand of packaging and lightweight automotive materials is the major factor which is expected to drive the injection molded plastics market.

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Emerging Economies to Help Asia Pacific Lead Global Market in Coming Years

In terms of geography, the injection molded plastics market has been bifurcated into North America, Latin America, Europe, Asia Pacific, and the Middle East. Asia Pacific held the leading market share of in 2018. It is likely to remain dominant region over the forecast period 2019 to 2027. Increasing usage of rigid and flexible packaging, plastic consumables for household use, are the key factors driving the Asia Pacific injection molded plastics market

Asia Pacific is the fastest growing market for chemicals which also includes injection molded plastics due to growing demand especially from growing economies like China and India, where the disposable income of consumers is growing at a steady pace. Also the GDP growth rate of both China and India is growing at significant rate compared to other geographies

Global Injection Molded Plastics Market: Competition Landscape

The global Injection Molded Plastics market is highly fragmented with presence of large numbers of unorganized players especially in Asia Pacific. Some of the major players include BASF SE, DowDupont, LyondellBasell, SABIC, Huntsman International, Exxon Mobil Corporation, Ineous and others.

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