Press release
Injection Molded Plastics Market Segments 2024-2033 | Size, Trends, Share And Outlook
Injection Molded Plastics Market
The injection molded plastics market size is expected to see steady growth in the next few years. It will grow to $403.24 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to increasing demand in automotive sector, rising adoption in medical devices, shift towards sustainable solutions, increasing demand in packaging industry, automation and industry 4.0 integration.. Major trends in the forecast period include customization and design flexibility, rise in lightweight components, advanced material development, expansion in medical device applications, global market expansion..
Market Overview -
Injection molded plastics refer to the manufacturing process of melting plastic pellets and injecting the molten plastic into a mold cavity. Injection molded plastics are used to make toys, automotive parts, electronic enclosures, and medical devices.
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The Surging Demand For Injection Molded Plastics In Construction
Increasing spending on construction is expected to drive the injection molded plastic market going forward. Construction refers to the process of building or assembling something, typically a structure, using various materials and techniques for residential and commercial purposes. Injection molded plastics are widely used in many construction applications such as floorings, roofing, walls, and insulation for their higher durability, lighter weight, and greater insulation properties. For instance, in December 2022, according to the Federal Reserve Bank of St. Louis, a US-based central bank, total spending on commercial construction reached $131 million, increasing from $103 million in December 2021. Furthermore, in May 2022, the total spending on residential construction topped $954 million, increasing from $797 million in May 2021. Therefore, the increasing construction spending will propel the injection molded plastics market.
Competitive Landscape -
Major companies operating in the injection molded plastics market report are ExxonMobil Corporation, Badische Anilin- und Sodafabrik, DuPont de Nemours Inc., Dow Inc., Huntsman International LLC., Eastman Chemical Company, INEOS Group, LyondellBasell Industries Holdings B.V., Saudi Arabia's Basic Industries Corporation, Magna International Inc., InterActiveCorp Group, Berry Global Inc., HTI Plastics Inc., Rutland Plastics, The Rodon Group, Heppner Molds Inc., Formosa Plastics Corporation, Reliance Industries Limited, China National Petroleum Corporation, AptarGroup Inc., Silgan Holdings Inc., Amcor PLC, ALPLA INDIA PRIVATE LIMITED, LTM Plastics Inc., MSI Mold Builders., GSH Industries Inc., Britech Industries, Nylacarb Corp., Proto Labs, EVCO Plastics, Crescent Industries, Stack Plastics, Universal Plastic Mold, Plastic Molding Technology Inc., Kamek Precision Tools Inc., Plastic Injection Molding Inc., RSP Inc., Plastic Design International Inc.
Product Innovations Reshaping The Injection-Molded Plastics Landscape
Product innovations are a key trend gaining popularity in the injection-molded plastics market. Major companies in the market are using new technology to introduce innovative products to sustain their position in the market. For instance, in July 2022, Saudi Arabia's Basic Industries Corporation (SABIC), a Saudi chemical manufacturing company, introduced a specially personalized portfolio of new mineral-reinforced SABIC PP compounds, PPc F9015, PPc F9005, and PPc F9005 grades made from foam injection molding (FIM). The newly introduced product makes up excellent aesthetics for automotive interior parts such as seat and trunk cladding, door panels and trim, and A/B/C/D pillar covers.
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Key Segments -
The injection molded plastics market covered in this report is segmented -
1) By Raw Material: Polypropylene (PP), Acrylonitrile Butadiene Styrene (ABS), High-Density Polyethylene (HDPE), Polystyrene (PS), Other Raw Materials
2) By Type: Electric Type, Hydraulic Type, Hybrid Type
3) By Application: Automotive, Medical Industry, Food And Beverage Industry, Consumer Goods Industry, Electronics And Telecom Industry, Construction, Shoe Industry, Home Appliance, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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