Injection Molded Plastics Market to Grow at a CAGR of 5.5%

Wilmington, Delaware, USA, September 12, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global injection molded plastics market is expected to grow at a stable CAGR of 5.5% during the forecast period from 2019 to 2027. Rising disposable income, especially in BRICS countries, is creating opportunities for growth. substantial increases for various industries, including household goods, personal care and cosmetics, electronics and consumer goods. The growing applications of injection molded plastic products in these end-use vertical industries are expected to drive the expansion of the industry in the coming years.

The packaging industry dominates the global injection molded plastics market landscape in terms of demand. In addition, growing demand from consumer goods and electronics industries is also expected to complement the expansion of the global injection molded plastics market in the coming years. In addition to this, the steady expansion in the household goods industry is also expected to fuel the growth of the global injection molded plastics market in the coming years.

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Injection Molded Plastics Market – Key Findings of the Report

  • Growing demand for polypropylene products: Due to their increased flexibility and light weight, plastic compounds made from polypropylene compounds are receiving the highest demand in the global injection molded plastics market. In addition, injection molded plastic products are also widely used in rapidly growing electronics and consumer goods industries, thereby driving the global injection molded plastics market.
  • Increased disposable income drives industry growth: The increase in disposable income of people in various regions complements the adoption of various plastic consumables. In addition, the trend favors the development of household goods and personal care industries. These trends are expected to support the growth of the global injection molded plastics market in the coming years.

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Injection Molded Plastics Market – Growth Drivers

  • Growing demand for molded plastic compounds from a diverse set of end-use industry verticals, including medical devices, electronics, packaging, automotive and consumer goods, is propelling the expansion of the global market for injection molded plastics
  • The increasing use of molded plastic compounds in the personal care industry for the manufacture of several products, such as hair combs, laundry baskets, toothbrushes and waste buckets, is also having a positive effect on the development of industry.
  • The growing focus of industry leading manufacturers on developing new types of plastics that create minimal burden on the environment is also creating new avenues for expansion in the global injection molded plastics market.

Injection Molded Plastics Market – Key Players

Major companies in the global injection molded plastics market include Dow Chemicals, Lyondell Basell, Huntsman International, INEOS, BASF SE, DuPont, SABIC, and Exxon Mobil Corporation, among others. The players in the global injection molded plastics market are majorly focusing on the integration of automation in their production facilities to reduce the time and cost involved in their manufacturing. Additionally, several companies in the global injection molded plastics market are also focusing on the development of new plastic materials that reduce the burden on the environment.

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Injection Molded Plastics Market – Regional Growth Dynamics

Asia-Pacific dominated the global injection molded plastics market in 2018. This trend can be attributed to the increasing use of injection molded plastic products for flexible and rigid packaging in the region, and the use increasing use of plastic consumables in various household applications. In addition to this, rising demand from economies such as India and China is also positively influencing the growth of the Asia Pacific injection molded plastics market. This trend is further reinforced by the increasing disposable income of consumers in these economies, as well as the growing use of products in the global injection molded plastics market for the storage of petroleum, chemical and industrial liquids.

Injection Molded Plastics Market: Segmentation

Injection Molded Plastics Market, By Raw Material

  • Polypropylene
  • Acrylonitrile butadiene styrene (ABS)
  • High Density Polyethylene (HDPE)
  • Polystyrene
  • Others

Injection Molded Plastics Market, By Application

  • Packaging
  • Consumables & Electronics
  • Automotive and Transportation
  • Building construction
  • Others

Injection Molded Plastics Market, By Region

  • North America
  • Europe
    • Poland
    • Hungary
    • Czech Republic
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Indonesia
  • Latin America
  • Middle East

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