Global Injection Molded Plastics Market by Application (Medical, Automotive & Transportation, Packaging), by Raw Material (Polypropylene, Polystyrene, ABS, HDPE) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Injection molded plastics' global market was valued at USD 265.1 million in 2020. It is projected to grow at a compound annual rate (CAGR of 4.6%) between 2021 and 2028. The market is expected to grow due to the increasing demand for plastic components in various industries, including automotive, packaging and household appliances. Injection-molded technology has become more important in mass production of complex plastic shapes due to modern innovations that reduce the chance of production errors.

The market for injection-molded plastics is expected to slow down due to rising environmental concerns and volatile prices of key raw materials like and benzene. To overcome these challenges, companies are now focusing on developing injection molded plastics that use bio-based counterparts.

Product demand will be driven by rising construction spending, especially in emerging markets like Brazil, China and India. The versatility of the finished products, including their better heat and pressure resistance, makes them more useful for different industries.

The government has supported the injection molded plastics market in India and China by providing tax incentives and financial incentives. They also offer low-cost labor which further lowers overall manufacturing costs for producers. This shift has led to an increase in overcapacity for various plastics products and lowered their prices.

To contain the spread of the coronavirus pandemic, it is necessary to slow down or stop manufacturing activities. This has resulted in a decrease in injection molded plastics consumption and a negative impact on its demand for various applications around the world. Due to restrictions on movement and logistical issues, manufacturers are having difficulties running their production lines which is further affecting the demand for injection molded plastics.

Raw Material Insights

Due to increasing use in automotive components, household products, and packaging applications, the segment of injection molded plastics dominated the market and accounted for 34.2% of the total revenue in 2020. It is expected that polypropylene's demand will continue to grow over the forecast period due to its penetration in protective caps for electrical contacts and battery housings.

Because of their corrosion resistance and electrical insulation, polypropylene is widely used in food packaging as well as electrical contacts. This segment is expected to experience the greatest growth during the forecast period due to the above factors.

The slowing down or stopping of manufacturing activities to stop the spread of the coronavirus pandemic caused a drop in polypropylene consumption and adversely affected its demand in different applications. Due to restrictions on movement and logistical issues, manufacturers are having difficulties running their production plants. This is further affecting product demand.

Acrylonitrile Butadiene Steyrene (ABS), was the second largest raw material for injection-molded plastics in terms of overall revenue in 2020. Over the forecast period, acrylonitrile-butadiene styrene component sales will rise in medical devices, consumer appliances, and electronic housings.

Application Insights

Injection molded plastics market leader, packaging accounted for 30.6% of the total revenue in 2020. To meet regulatory guidelines and fulfill end-user demands, packaging products go through several development phases. Packaging applications must meet certain requirements plastics like a longer shelf life, greater resistance to wear and tear, and durability.

Injection-molded plastics have great potential, especially in the automotive and medical industries. This sector is expected to see the greatest growth, especially in the medical components and devices segment. Injection molded plastics are expected to be in high demand within the medical sector due to their optical clarity, biocompatibility and cost-effective production methods.

Over the forecast period, the sector is expected to benefit from a strict regulatory environment regarding medical-grade plastics in healthcare sectors. Over the forecast period, the medical sector will see a rise in preference for bio-degradable plastics among manufacturers of medical devices.

Over the forecast period, a strong shift in the trend to replace steel with plastics is expected to increase demand for injection-molded plastics. In recent years, government regulations have required automotive manufacturers to use plastics in place of iron or steel.

Automobile manufacturers are focusing on reducing vehicle weight to increase fuel efficiency. The automotive segment is likely to see an increase in the use of plastics as a replacement for metals and other alloys, which will drive demand. This will create a huge opportunity for injection-molded plastics to expand in the near future.

Regional Insights

Asia Pacific was the dominant market for injection-molded plastics in 2020, accounting for 38.6% of the total revenue. Market penetration is expected to be driven by rising infrastructure spending and growing automobile demand in countries like China, India, Indonesia, Malaysia, and Indonesia.

Due to low labor costs, major end-use industries like electronics and automobiles are moving their manufacturing base to Asia Pacific countries, such as India, China and Indonesia. These countries offer manufacturers tax incentives and government incentives. This increases the demand for various electrical and automotive parts, which is expected to increase product demand during the forecast period.

The European market for injection-molded plastics will reach USD 95.2 million by 2028. Non-food and beverages packaging in Europe includes cosmetics, toiletries, pharmaceuticals, household chemicals, and pharmaceuticals. Consumables and electronics applications will be driven by the increasing demand for electronic devices such as laptops, cellular phones, and other electronic devices, especially in France, Germany, and the U.K. Over the forecast period, the region's demand will be driven by the expected growth in Europe's automobile industry.

Market Share Insights & Key Companies

Injection molded plastics are a fragmented market. This is due to the existence of an unorganized sector, especially in Asia Pacific. Asia Pacific companies have been looking for substantial capacity increases over the last few years in order to benefit from operational excellence and scale economies. The market is competitive due to its diverse product range and differentiation. The following are some of the most prominent players in the market for injection-molded plastics:

• BASF SE

• Lyondellbasell Industries N.V.

• Dow, Inc.

• DuPont

• SABIC

• Eastman Chemical Company

• INEOS Group

Up Market Research published a new report titled “Injection Molded Plastics Market research report which is segmented by Application (Medical, Automotive & Transportation, Packaging), by Raw Material (Polypropylene, Polystyrene, ABS, HDPE), By Players/Companies Eastman Chemical Company, SABIC, DuPont, INEOS Group, BASF SE, Dow Inc, Lyondellbasell Industries NV”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Injection Molded Plastics Market Report Segments:

The market is segmented by Application (Medical, Automotive & Transportation, Packaging), by Raw Material (Polypropylene, Polystyrene, ABS, HDPE).

Injection Molded Plastics Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Injection Molded Plastics Market

Overview of the regional outlook of the Injection Molded Plastics Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Injection Molded Plastics Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Injection Molded Plastics Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Medical

                2. Automotive & Transportation

                3. Packaging

                1. Polypropylene

                2. Polystyrene

                3. ABS

                4. HDPE

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Injection Molded Plastics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Injection Molded Plastics Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.