Press release
Injection Molded Plastics Market Market Trends, Industry Share, Growth Drivers, Business Opportunities and Demand Forecast to 2027
The outbreak of the COVID-19 pandemic is likely to cause a mixed growth for the market. The demand for injection molded plastics would decline from electrical & electronics, building & construction, and automotive industries. But, it would surge from the medical and packaging industries. We are delivering special research reports to help you regain business confidence at such a difficult phase.
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This Report Answers the Following Questions:
What are the market growth drivers, hindrances, and dynamics?
Which region and segment would dominate the market in the coming years?
Which companies would lead the market by generating the largest revenue?
How will the companies increase sales of injection molded plastics amid the COVID-19 pandemic?
Drivers & Restraints-
Increasing Usage in Food & Beverages Industry to Drive Growth
Injection molded plastics are nowadays being majorly used in packaging applications. It is experiencing high demand from the food and beverage industry as the material is capable of keeping food items safe. They are extensively used to manufacture bottles, containers, closures, and caps. A container made with injection molded plastic is lead-resistant and clear. Therefore, it keeps food and beverages fresh for a longer period of time. At the same time, these plastics are microwavable, washable, and reusable. These factors are set to propel the injection molded plastics market growth in the coming years.
Segment-
Packaging Segment to Grow Considerably Stoked by Increasing Demand from People
Based on application, the packaging segment held 35.59% in terms of injection molded plastics market share in 2019. The retail, pharmaceutical, and food & beverages applications are the main contributors to growth. This is because people are rapidly shifting towards plastic packaging from metal and glass ones.
Regional Analysis-
Asia Pacific to Remain at Forefront Owing to High Population & Urbanization
In 2019, North America procured USD 51.11 billion in terms of revenue. The growth in this region is attributable to the presence of several reputed companies, as well as the increasing demand from the electronics and packaging industries. Asia Pacific is expected to dominate throughout the forthcoming years, with China being the major contributor. Rapid urbanization and increasing population would help the market for injection molded plastics in this region to grow.
Competitive Landscape-
Key Players Aim to Broaden Their Existing Facilities to Intensify Competition
Most of the companies present in the market for injection molded plastics are located in Asia Pacific. Those situated in Europe and North America are striving to strengthen their positions by expanding their existing facilities. Below is one of the latest industry developments:
September 2019: Toshiba Corporation broadened its U.S. Injection Molding Division. It has shifted to a 58,000 ft2 facility that includes powering up machines for complete inspections of machines, delivering special options on custom orders, making software updates, and conducting test runs.
Fortune Business Insights™ presents a list of all the renowned injection molded plastics manufacturers operating in the market. They are as follows:
BASF SE
Dow Inc.
DuPont
HTI Plastics
Valder Kunststoffverarbeitungs GmbH
LyondellBasell
Toshiba Corporation
Coastal Plastic Molding, Inc.
Huntsman Corporation
Magna International Inc.
Others
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