The global Plastic Contract Manufacturing market size is expected to be worth around US$ 50.85 billion by 2030, according to a new report by Vision Research Reports.
The global Plastic Contract Manufacturing market size was valued at US$ 30.61 billion in 2020 and is anticipated to grow at a CAGR of 6.6% during forecast period 2021 to 2030.
|Market Size||US$ 50.85 Billion by 2030|
|Growth Rate||CAGR of 6.6% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||McClarin Plastics, LLC; EVCO Plastics; C&J Industries; Plastikon Industries, Inc.; RSP, Inc.; Mack Molding; Tessy Plastics; Inzign Pte Ltd.; Genesis Plastics Welding; Baytech Plastics; Gregstrom Corp.; Nolato AB; Natech Plastics, Inc.; PTI Engineered Plastics, Inc.; Rosti Group AB, Inc|
Increasing usage of plastics, such as polystyrene, polyethylene, polypropylene, and polyurethane, in household appliances is expected to fuel the market growth. Due to the COVID-19 pandemic, many countries were in lockdown, due to which various companies across the globe have adopted work-from-home culture from March 2020. Several companies are planning to adopt the work-from-home culture permanently, due to which, the demand for home appliances and electronics products is rising rapidly. This, in turn, is expected to benefit the market growth over the forecast period.
Plastic is required by various end-use industries due to which, several end-users prefer to outsource plastic components as it reduces their production cost. This is expected to drive market growth over the forecast period. Polypropylene and polyethylene are increasingly being used for the production of medical devices. The growing demand for improved healthcare facilities and the rising number of hospitals have augmented the growth of the medical devices sector worldwide. The growing sales of medical devices are expected to be beneficial for the market growth.
By Product Analysis
The Polypropylene (PP) segment led the market and accounted for 34.3% of the global revenue share in 2020. Polypropylene is majorly used for manufacturing components in medical and automotive applications.
Polyethylene (PE) is used in various applications including toys, milk bottles, shampoo bottles, pipes, houseware, reusable bags, trays, containers, and packaging films.
The ABS product segment is estimated to witness the fastest CAGR during the forecast period. ABS is a polymer, which provides chemical & impact resistance, strength, and chemical inertness.
Polystyrene is generally available in three forms including Expanded Polystyrene (EPS), High Impact Polystyrene (HIPS), and General-Purpose Polystyrene (GPPS).
By Application Analysis
The consumer goods & appliances segment led the market and accounted for 28.2% of the global revenue share in 2020. Rising dependency on household appliances, owing to the increasing working population, coupled with increasing disposable income levels, is expected to drive the demand for these appliances, propelling the segment growth.
The medical application segment is expected to grow at the fastest CAGR of 8.2% during the forecast period. Increasing utilization of catheters in the medical sector in several applications, such as angiography, cardiac electrophysiology testing, angioplasty, and administration of intravenous fluids, is expected to drive the product demand. In the aerospace industry, plastics are used for various applications including aerostructure, components, equipment, system & support, cabin interiors, propulsion systems, satellites, and insulation components.
By Regional Analysis
Asia Pacific led the market in 2020 accounting for over 44.1% of the global revenue share and is estimated to register the fastest CAGR over the forecast period. The region is the largest manufacturer as well as consumer of plastics.
The market in Central & South America is estimated to expand at a CAGR of 6.8% during the forecast period owing to significant growth in the appliances and consumer goods industry over the past few years as a result of the high investments in the manufacturing sector of the country. This is likely to have a positive impact on regional market growth.
McClarin Plastics, LLC
Plastikon Industries, Inc.
Inzign Pte Ltd.
Genesis Plastics Welding
Natech Plastics, Inc.
PTI Engineered Plastics, Inc.
Rosti Group AB, Inc.
Aerospace & Defense
Consumer Goods & Appliances
Central & South America
Middle East & Africa
The Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Plastic Contract Manufacturing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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.
Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing 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 Plastic Contract Manufacturing market. These factors have benefited the growth of the global market for Plastic Contract Manufacturing. 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 Plastic Contract Manufacturing. 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 Plastic Contract Manufacturing 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
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.
The study objectives of this report are:
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