Press release
Global Injection Molded Plastics Market Is on Track To Hitting USD 409.2 Billion by 2030
It is predicted that the need for injection molded plastics would be driven by the rising demand for plastic components from a variety of end-use sectors, including consumer goods and electronics, packaging, and automotive and medical devices.
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In addition, injection molding developments are also being focused on by businesses to reduce the rate of defective manufacturing, which has had a substantial effect on the demand for injection-molded plastic components globally. Thus, the injection molded plastics market is set to reach USD 409.2 billion by 2030, according to P&S Intelligence.
APAC Is a Major Consumer of Injection Molded Plastics
With a 40% revenue share, APAC now holds the top spot in the market for polymers used in injection molding and will continue to do so until the year 2030. Demand for injection-molded plastics is anticipated to rise in the Asia-Pacific area as a result of rising infrastructure investment and rising vehicle sales in Indonesia, India, China, and Malaysia.
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Due to its low cost of producing a variety of goods, China has the greatest revenue in the area, which will increase at a CAGR of over 5%. The important drivers driving the market's growth are China's vast population and its quick urbanization.
Browse more reports:
Medical Injection Molded Plastics Market - https://www.psmarketresearch.com/press-release/medical-injection-molded-plastics-market
Polypropylene Market - https://www.psmarketresearch.com/press-release/polypropylene-market
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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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