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Injection Molded Plastics Market - By Raw Material (Polystyrene, HDPE, ABS, Polypropylene), By Application (Building & Construction, Automotive, Consumables & Electronics, Packaging), By Region & Global Forecast, 2023 – 2032

  • Report ID: GMI416
  • Published Date: Apr 2023
  • Report Format: PDF

Injection Molded Plastics Market Size

Injection Molded Plastics Market size garnered over USD 300 billion in 2022. With the consistent expansion of the construction sector globally, the industry is set to witness 3.5% CAGR from 2023 to 2032.
 

injection molded plastics market

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The construction sector has witnessed an upward trend over recent years owing to the escalating rollouts of infrastructure development projects and the advent of several technological breakthroughs. Besides, the improving economic landscape and the significant rise in investments focused on building an energy-efficient infrastructure across numerous economies.
 

Plastic injection molding is widely utilized across several industrial verticals ranging from electronics, automobiles, and construction to kitchen utensils and toys. The stringent government regulation pertaining to minimizing plastic pollution and the increased adoption of effective waste management techniques may restrict industry growth during the forecast period. On the other hand, the consolidated competitive landscape and the increasing strategic exchanges among leading product manufacturers will accelerate business growth through the ensuing years.
 

Injection Molded Plastics Market Analysis

Global Injection Molded Plastics Market By Raw Material

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With respect to raw material, the injection molded plastics market is segregated into Acrylonitrile Butadiene Styrene (ABS), polypropylene (PP), High-Density Polyethylene (HDPE), Polystyrene (PS), and others. The Polypropylene segment is expected to expand at over 4% CAGR and exceed USD 160 billion by 2032. Because of the growing consumption of PP in automotive components, packaging applications, and household goods, the polypropylene (PP) segment held the biggest revenue share of more than 34% in 2021. Increasing PP-based product penetration in protective caps for electrical contacts and battery housings, as well as food packaging, is expected to fuel demand over the projection period.
 

Because of their corrosion resistance and electrical insulation qualities, polypropylene components are widely used in food packaging and electrical contacts. Due to the aforementioned factors, the segment is anticipated to grow at the fastest rate during the forecast period.  However, a reduction or cessation of manufacturing activities to fight the spread of the coronavirus has resulted in a decline in PP consumption and a negative impact on its demand in a variety of applications. Manufacturers are having difficulty operating their production units due to logistical constraints and limits on people's movement, which has impacted product demand.
 

 

Global Injection Molded Plastics Market By Applications

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Regarding the application landscape, the packaging applications are expected to amass more than USD 135 billion by 2032, exhibiting a 3.5% growth rate throughout the projection period. To meet regulatory guidelines and end-user criteria, finished goods used in packaging go through several development stages. Plastics must satisfy several requirements for packaging applications, including improving food product shelf life, improved wear and tear resistance, and high durability. Plastic injection molding has enormous promise. Particularly in the medicinal and automotive fields. The medical devices and components sector is anticipated to grow the most in the industry. Product demand in the medical industry is anticipated to be driven by biocompatibility, optical clarity, and cost-effective manufacturing methods.
 

A stringent regulatory environment for medical-grade polymer use in healthcare industries is expected to fuel the injection molded plastics market growth. Over the forecast period, a growing preference for biodegradable polymers among medical device makers is expected to generate profitable opportunities in the medical industry. A significant shift in the automotive industry's trend towards replacing steel with plastics is anticipated to fuel product demand over the forecast period. In recent years, government rules have compelled automakers to use plastics instead of other materials such as iron and steel. Automobile makers have been concentrating on reducing vehicle weight in order to increase fuel efficiency.
 

 

Global Injection Molded Plastics Market By Region

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Asia Pacific injection molded plastics market is projected to be worth over USD 140 billion by 2032. The regional growth can be credited to the flourishing automotive and construction sectors owing to the increasing demand and uptake of autonomous high-end luxury vehicles and the rising infrastructural investments. In addition, the robust economic outlook across countries such as China and India, coupled with the rapid industrial growth, will create positive growth prospects for the injection molded plastics industry in the Asia Pacific.
 

Injection Molded Plastics Market Share

Leading companies operating in the injection molded plastics market are:

  • ExxonMobil Corporation
  • BASF SE
  • DuPont
  • The Dow Chemical Company
  • Huntsman Corporation
  • Eastman Chemicals
  • INEOS Group
  • LyondellBasell Industries
  • SABIC
  • Magna International Inc
  • Berry Global Inc
  • Becton Dickinson (BD,
  • IAC Group,
  • Rubbermaid Commercial Products LLC.
     

Players in the market have been widely integrating advanced technologies to develop state-of-the-art products to gain a competitive edge over their counterparts and expand their existing consumer base. For instance, in July 2022, Sabic introduced a specially personalized portfolio of new mineral-reinforced Sabic PP compounds, PPc F9015, PPc F9005, and PPc F9005 grades for foam injection molding (FIM). The newly introduced product range help provide stunning aesthetics for visible automotive interior parts with complicated geometries, such as seat and trunk cladding, door panels and trim, center consoles, and A/B/C/D pillar covers.
 

Impact of COVID-19 Pandemic

The injection molded plastics industry depicted a decent growth potential during the COVID-19 pandemic, owing to a remarkable rise in demand for gloves, masks, personal protective equipment, and associated packaging materials. Based on investigations by Frontline, plastic resin production in the U.S. increased by 0.9% compared to COVID-19 restrictions and industry closures. Besides, the strict movement restrictions and social distancing norms resulted in a transformer buyer behavior and caused a massive boom across the e-commerce industry, further pushing the demand for packaging boxes and containers.
 

These trends, in covalence with the adoption of distinctive growth initiatives by premier product manufacturers and rising investments across the construction sector, will boost the industry revenue trajectory over the next ten years.
 

The Injection molded plastics market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in kilo tons & in terms of revenue in USD billion from 2018 to 2032 for the following segments:

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By Raw Material

  • Polystyrene
  • HDPE
  • ABS
  • Polypropylene

By Application

  • Building & Construction
  • Automotive
  • Consumables & Electronics
  • Packaging

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global Market size for Injection Molded Plastics amassed over USD 300 billion in 2022 and is poised to exhibit more than 3.5% CAGR from 2023 to 2032 owing to the remarkable growth of the construction sector globally.
Polypropylene segment is expected to witness over 4% CAGR through 2032 owing to the increasing usage in several industrial applications due to its high impact strength, excellent molding capabilities, moisture resistance, food-grade approvals, and lower production costs.
Injection molded plastics market from the packaging application segment is anticipated to accumulate more than USD 135 billion by 2032 driven by the flourishing landscape of the e-commerce sector and the subsequent rise in demand for shipping containers.
Asia Pacific injection molded plastics industry is slated to cross USD 140 billion by 2032 due to the rising income levels and the consistent expansion of the construction and automotive sectors.

Injection Molded Plastics Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 331
  • Countries covered: 26
  • Pages: 250
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