Molded Plastic market is expected to grow by USD 475,856.9 million by 2023, progressing at a CAGR of over 6.2% during the forecast period

Molded plastics are the type of polymers, which can be molded into any size and shape for the use in commercial applications. The use of pigments and other additives enhances the quality of the molded plastics. Molded plastics are used in various end-use industries, owing to the characteristics, such as durability, lightweight, and high chemical resistance. The automobile industry uses molded plastic for manufacturing of air flow ducts, engine cover, wheel wells, car fascia, grilles, bumpers, and other components.

Extensive expansion and development in the construction, automotive, and packaging industry will boot growth in molded plastics market globally. For instance, according to Organization Internationale des Constructeurs Automobiles (OICA) the automotive industry increased with a growth rate of 4.5% during the period 2015-2016.

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Detailed Segmentation:

Global Molded Plastic Market, By Product:
Polyvinyl chloride
Polypropylene
Polystyrene
Low density polyethylene
High density polyethylene
Polyethylene Terephthalate
Engineering Plastic

Global Molded Plastic Market, By Technology Type:
Injection molding
Blow molding
Compression molding
Film insert molding
Gas assist molding
Rotational molding
Structural form molding
Thermoforming

This report segments the molded plastic market on the basis of product, technology type, and application. On the basis of product type, the global molded plastic market is segmented into polyvinyl chloride, Polypropylene, polystyrene, low density polyethylene, Thermoforming, polyethylene terephthalate, and engineering plastics. Based on technology type, the market is segmented into injection molding, blow molding, compression molding, film insert molding, gas assist molding, rotational molding, structural form molding, and thermoforming.

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Europe is the second largest market for molded plastic, followed by North America. The developed electrical and automotive industry is the major factor boosting the growth of molded plastic market. The increase in remodeling and renovating activities in the North American region is further expected to fuel the growth of molded plastic market. The New Building Canada Fund has committed US$ 10 billion over a 10 year period i.e. 2014-24 to build public infrastructure in Canada. 9 US$ in the National and regional projects and 1 US$ in small population fund.

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