Press release
Molded Plastics Market is Expected to Progress at a CAGR of 4.7% to Reach US$ 289.05 Billion by 2035
Molded Plastics Market
In 2024, the molded plastics market experienced a robust and steady rate of growth because of the recovery of key sectors such as automotive and packaging. Specifically, there was a heightened demand for light and strong materials, as car manufacturers increasingly employed molded plastics to satisfy fuel efficiency and safety needs.
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Segment-wise Analysis
By Material
During 2025-2035, polypropylene (PP) will be the most profitable material segment in the molded plastic industry due to its moldability into a wide range of shapes and sizes, resistance to chemical degradation, and affordable price. The product is expected to achieve a CAGR of around 6.4% between 2025 and 2035, slightly higher than the overall industry growth rate of 5.8%, in terms of its dominance of key applications.
By End Use
The packaging segment will remain the highest revenue-generating end use segment for this business in 2025 to 2035 due to increasing demand for eco-friendly packaging materials and superior plastic recycling processes. The packaging segment will grow at a CAGR of roughly 6.1% in 2025 to 2035, higher than overall industry growth, as an indicator of its fundamental location in molded plastics applications.
Country-Wise Analysis
Fact.MR foresees the industry in the U.S. to experience a steady rate of growth with a CAGR of 5.2% from 2025 to 2035. One of the most prominent drivers behind the growth is the shift towards sustainable and lightweight material consumption, particularly in the automotive and packaging sectors. The strict regulation on plastic waste management is pushing companies to shift their focus towards recyclable and sustainable alternatives, driving increasing demand for molded plastics.
China's sales will grow during the forecast period of 2025 to 2035 at a CAGR of 6.0%. As the world's largest consumer and producer of plastics, China remains a driving force in the production. The demand is primarily driven by sectors like packaging, automotive, and electronics as a result of the increasing consumption of environment-friendly, biodegradable, and recyclable plastics.
Fact.MR projects UK sales to have a growth rate of 5.5% CAGR through the forecast period. One major propeller driving growth in this space is heightened interest in circular economy practices and sustainability. The commitment by the UK to reach a net-zero emissions level by the year 2050 will trigger green manufacturing tech advancements significantly, leading to efforts for utilizing biodegradable and recyclable plastics.
The successful automotive, electronics, and packaging sectors in South Korea fuel the demand for this industry. The country's advanced technological foundation is fueling the widespread application of high-performance plastics at a rapid pace, particularly in the automobile sector, where lightweight and strong material is needed to improve fuel efficiency.
Competitive Landscape of the Molded Plastics Industry
The plastics molded industry is relatively concentrated, with global producers and regional manufacturers in control. Although there are large industry shares by powerful firms, the existence of specialized regional manufacturers provides competition, especially in rapidly growing economies.
Industry players are targeting material innovation, sustainability, and cost saving to underpin their industry positioning. Strategic measures include increasing manufacturing capacity, making investments in biodegradable plastics and recycled plastics, and following stringent environmental legislation. Lightweight materials, high-performance polymers, and manufacturing automation are strong drivers of differentiation for consumer and industrial applications.
BASF SE introduced a new generation of bio-based molding plastics to the market in 2024, aiming at the automotive and packaging industries for backing of the circular economy operations in Europe. Dow Chemical Company diversified its Asia production base due to increasing demand for high-durability plastics to utilize in building construction and electronics.
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Key Players
E. I. DuPont de Nemours and Company
DuPont de Nemours, Inc.
Huntsman International LLC
Eastman Chemical Company
Magna International, Inc.
IAC Group
Berry Global, Inc.
Master Molded Products Corp.
HTI Plastics, Inc.
Rutland Plastics
AptarGroup, Inc.
Segmentation
By Material :
Polypropylene
Polyethylene
Polyvinyl Chloride
Polystyrene
Polyethylene Terephthalate
Other Materials
By End Use :
Packaging
Consumables & Electronics
Automotive & Transportation
Building & Construction
Other Applications
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
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