A plastic injection molding machine refers to an injection molding machine that manufactures plastic products through injection and clamping units. Injection molding machine facilitates the production of a range of plastic parts with different finishes, such as light texture, pad printed, smooth, screen printed and medium texture. Plastic injection molding machines also facilitate the use of a wide variety of material types such as polystyrene, nylon, polypropylene and polycarbonate in the injection molding process. These Injection-molded Plastics through injection molding machines have chemical resistivity and flexibility, which may increase their usage across different industry verticals. More specifically, plastics such as HDPE, ABS are gaining wide momentum in a range of end-use industries, including construction, automotive, and packaging on account of their improved tractability and properties. Thus, the increasing demand for hybrid molded plastics from the automotive and construction sectors, along with rapidly growing industrialization across developed and developing economies are the few factors responsible for the CAGR of the market during the forecast period. As per the research performed by the International Organization of Motor Vehicle Manufacturers (OICA), in 2018, it has been found that around 43.4 million units of cars were produced in Asia-Pacific, an increase from 24.6 million units since 2008. Likewise, as per the European Automotive Manufacturers Association (EAMA), in 2017, china was the leading country in motor vehicle production registered about 29,512 thousand units in 2017 as compared to 28,505 thousand units in 2016 representing about 3.5% increase. This, in turn, is likely to strengthen the demand for injection molded plastics, thereby contributing to the market growth around the world. However, volatile raw material prices, coupled with stringent environmental regulation are the few factors limiting the market growth over the forecast period of 2020-2027.
The global Injection-molded Plastics Market is valued approximately at USD 253.4 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.6% over the forecast period 2020-2027 and it is estimated to reach USD 363.1 billion by 2027.
The regional analysis of the global Injection-molded Plastics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the rising infrastructural spending, along with the wide presence of market vendors in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in production of automobiles coupled with growing application in the packaging sector across the developing nations, such as China and India, are the few factors creating a lucrative opportunity for the growth of the injection molded plastics market in the Asia-Pacific region.
Major market players included in this report are Exxon Mobil Corp., BASF SE, DuPont, Dow Inc., Huntsman Corporation, Eastman Chemical Company, INEOS Group, LyondellBasell Industries N.V., SABIC, Magna International, Inc.
The detailed segments and sub-segment of the market are explained below:
By Raw Materials: Polypropylene, Acrylonitrile Butadiene Styrene (ABS), High Density Polyethylene (HDPE), Polystyrene, Others
By Application: Packaging, Consumables & electronics, Automotive & transportation, Building & construction, Medical, Others
By Region: North America, Europe, Asia Pacific, Latin America, Rest of the World
Furthermore, the years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Injection-molded Plastics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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