Injection-molding is a new technique used in the plastics industry for the manufacture of plastic products in varying shapes and sizes. Various polymers are used in the method owing to its compatibility and the demand across industries of construction, automotive, electrical & electronics, and healthcare. The global injection-molded plastics market report by Market Research Future (MRFR) contains insights and suggestive countermeasures for the period of 2019 to 2023 (forecast period). The impact of the COVID-19 pandemic on the industry has been noted.
Accroding to MRFR, the Injection-Molded Plastics Market is projected to exhibit a CAGR of 5.59% to reach USD 341.72 Billion by the end of 2023. It is expected that the high-performance features of injection moulding technology will be the primary factor driving the development of the global demand for injection moulded plastics.
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Segmentation:
Based on raw material type, the global market has been segmented into polypropylene, ABS, ASA, SAN, HDPE, LDPE, LLDPE, polystyrene, polycarbonate, PEEK, PET, polyurethane thermoplastics, and others. Among these, the polypropylene segment held the largest market share of around 44% in 2018 due to its superior properties with leads to its large-scale use in the manufacturing of pipes, pallets, food packaging, and automobile interior parts, among others. By application, the global road marking materials market is
Based on application, the global market has been segmented into packaging, consumable & electronics, automotive & transportation, building & construction, medical, and others. Among these, the packaging segment accounted for the largest market share in 2018 and is also expected to register the highest value CAGR of over 6% during the forecast period due to the large-scale consumption of injection-molded packaging products such as caps and closures, thin wall packaging, and rigid bulk packaging across various end-use industries.
Competitive Landscape
Competitive Landscape
Market Research Future (MRFR) recognizes the following companies as the key players in the global injection-molded plastics market: BASF SE (Germany), Huntsman International LLC (US), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), LyondellBasell Industries Holdings B.V. (the Netherlands), DowDuPont (US), INEOS Group Holdings SA (UK), Chevron Phillips Chemical Company (US), Reliance Industries Limited (India), and Eastman Chemical Company (US).
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Germany to Lead Europe Market
Europe is projected to be the second-largest injection moulded plastics market and a CAGR of over 5% is expected to be registered during the forecast period. During the projected era, the German market is predicted to experience a remarkable CAGR. Cosmetics and toiletries, pharmaceuticals, and household chemicals are among the European uses for non-food and beverage packaging. Increasing demand for mobile devices such as laptops and mobile phones is expected to drive demand for consumables and electronic applications, especially in the United Kingdom, Germany, and France. Over the projected era, the growth of the automotive industry in Europe is expected to push regional demand higher.
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