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Injection Molded Plastics Market Analysis

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

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.

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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