The global Injection Molded Plastics market size is expected to be worth around US$ 490.3 billion by 2030, according to a new report by Vision Research Reports.
The global Injection Molded Plastics market size was valued at US$ 365.1 billion in 2020 and is anticipated to grow at a CAGR of 5.6% during forecast period 2021 to 2030.
Growth Factors
Growing demand from key applications including automotive, packaging, and construction particularly in Brazil, Russia, India, China, and South Africa (BRICS) nations, is likely to drive the growth. The high-growth regions such as Middle East and Asia Pacific have witnessed a surge in capacity addition over the last few years.
The increasing presence of plastic injection molding companies in China on account of low manufacturing costs and ample availability of skilled labor is anticipated to benefit the regional market. Major foreign companies are increasing their production capabilities in the region, owing to growing demand for plastic products. Government support in the form of tax benefits and financial incentives in China and India to increase the FDI flow has helped develop the in these countries.
In packaging applications, High-Density Polyethylene (HDPE) is extensively used in thin wall injection molding. Growing packaging demand from food, bin liners, and thing gauge bags is anticipated to drive its growth over the forecast period. The rising penetration of injection-molded HDPE in shipping containers, industrial pails, and houseware applications is anticipated to further drive its demand over the forecast period.
The recent outbreak of the COVID-19 pandemic has affected the revenue generation of the companies operating in the market owing to the halt or slowdown in the production facilities. Thus, the companies are focusing on upgrade of their resources and production capabilities to help in the fight against the pandemic. For instance, G&C products, a U.S.-based plastic injection mold making company that produces plastic products for the fishing and medical industry, started the production of personal protective equipment such as face shields and face masks.
Report Highlights
The polypropylene segment dominated the market for injection molded plastics and accounted for the largest revenue share of 34.2% in 2020 owing to its increasing consumption in automotive components, household goods, and packaging applications. Growing polypropylene finished product penetration in protective caps in electrical contacts, battery housings, and food packaging is anticipated to further drive its demand over the forecast period.
Polypropylene components are being widely used in food packaging and electrical contacts on account of corrosion resistance and electrical insulation properties respectively. On account of the aforementioned factors, the segment is expected to witness the highest growth over the forecast period.
However, slow down or halt in manufacturing activities to contain the spread of coronavirus pandemic has led to a decline in the consumption of polypropylene and negatively impacted its demand in various applications. Manufacturers are experiencing difficulties in running their production units owing to logistic restrictions and limitations on the movement of people, which are further cascading the negative impact on the product demand.
Acrylonitrile Butadiene Styrene (ABS) emerged as the second major raw material for injection molded plastics of the overall revenue in 2020. Rising acrylonitrile butadiene styrene component demand in medical devices, automotive components, electronic housings, and consumer appliances manufacturing is expected to drive its demand over the forecast period.
The packaging segment dominated the market for injection molded plastics and accounted for the largest revenue share of 30.6% in 2020. The finished products used in packaging undergo various development phases to cope up with regulatory guidelines and end-user requirements. Increased shelf life of food products, better performance towards wear and tear, and durability are a few requirements plastics need to meet for packaging applications.
Injection-molded plastics hold immense potential, particularly in the medical and automotive industry. The industry is expected to witness the highest growth in the medical devices and components sector. Optical clarity, biocompatibility, and cost-effective method of production are expected to drive demand for injection molded plastics in the medical industry.
Stringent regulatory scenario regarding medical-grade polymer use in healthcare sectors is anticipated to positively impact growth in the sector over the forecast period. Rising preference towards bio-degradable polymers among medical device manufacturers is also anticipated to create profitable opportunities in the medical industry over the forecast period.
A strong shift in the trend towards replacing steel with plastics in the automotive industry is expected to spur the demand for injection molded plastics over the forecast period. Government regulations in the recent past have forced automotive manufacturers to use plastics instead of other materials such as iron and steel.
Automobile manufacturers have been focusing on reducing the overall weight of vehicles to improve fuel efficiency. Increasing use of plastics to replace metals and alloys in automotive components is expected to drive product demand from the automobile segment, thereby providing an immense opportunity for the market for injection molded plastics to grow in near future.
Asia Pacific dominated the injection molded plastics market and accounted for the largest revenue share of 38.6% in 2020. Increasing infrastructure spending coupled with growing automobile demand in countries such as China, India, Indonesia, and Malaysia is expected to drive market penetration in the region.
Major end-use industries such as electronics and automobiles are shifting their manufacturing base to Asia Pacific countries such as India, China, Indonesia, and Thailand owing to low labor costs. Government incentives in the form of tax benefits are offered to manufacturers in these regions. This factor increases the requirement for manufacturing various automotive and electrical parts which in turn is expected to drive product demand over the forecast period.
In Europe, the market for injection molded plastics is expected to reach USD 95.2 billion by 2028. Europe’s non-food and beverages packaging applications include cosmetics and toiletries, pharmaceuticals, and household chemicals. Increasing demand for electronic appliances such as laptops and cellular phones particularly in U.K., Germany, and France is expected to drive demand from consumables and electronics applications. The growth of the automobile industry in Europe is expected to further drive the regional demand over the forecast period.
Key Players
BASF SE
Lyondellbasell Industries N.V.
Dow, Inc.
DuPont
SABIC
Eastman Chemical Company
INEOS Group
Market Segmentation
Raw Material Outlook
Polypropylene
ABS
HDPE
Polystyrene
Others
Application Outlook
Packaging
Consumables & Electronics
Automotive & Transportation
Building & Construction
Medical
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
The Injection Molded Plastics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Injection Molded Plastics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Injection Molded Plastics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Injection Molded Plastics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Injection Molded Plastics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Injection Molded Plastics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Injection Molded Plastics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Injection Molded Plastics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Injection Molded Plastics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Injection Molded Plastics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Injection Molded Plastics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Injection Molded Plastics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Injection Molded Plastics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Injection Molded Plastics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Injection Molded Plastics market. These factors have benefited the growth of the global market for Injection Molded Plastics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Injection Molded Plastics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Injection Molded Plastics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
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Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers