Demand For Injection Molded Plastics Market Is Relatively High Owing To Clear, Leak-Resistant, Microwavable, And Reusable Properties.
Manufacturers’ Increasing Focus On Offering Eco-Friendly And Sustainable Packaging Solutions Is One Of The Key Factors Propelling The Global Market Growth
Injection Molded Plastics Market Size – USD 265.2 Billion In 2020, Market Growth - CAGR Of 4.6%, Market Trends – Technological Advances In Injection-Molded Packaging Technologies
The Global Injection Molded Plastics Market Size Is Expected To Reach USD 390.4 Billion In 2028 And Register A Revenue CAGR Of 4.6% Over The Forecast Period, According To The Latest Report By Reports And Data. Major Factors Driving Market Revenue Growth Include Increasing Applications Of Injection-Molded Plastics In Food Packaging, Pharmaceutical Packaging, Electronics Packaging, And Manufacture Of Various Automotive Components And Construction Materials. Increasing Use Of These Plastics For Their Robust Flexibility, Leak Resistance, Recyclability And Reusability, And Microwavable Properties Is Another Key Factor Driving The Global Market Growth.
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The Most Renowned Companies Operating In The Global Injection Molded Plastics Market Include DOW, NOVA Chemicals, Sinopec, Sinopec, Honeywell International, Chevron Phillips Chemical, Lanxess, Lyondellbasell Industries Holdings B.V., Eastman Chemical Company, Huntsman International LLC, Dupont, Borealis Reliance Industries Limited, Teijin, SABIC, Shin-Etsu Chemical Exxonmobil, Mitsubishi, Ineos, Evonik, And BASF.
Key Companies In The Market Include:
Based On Raw Material Type, The Polypropylene Segment Dominated Other Segments In 2020, With The Highest Revenue Share Of 34.2%. Steady Growth Of This Segment Is Majorly Attributed To Factors Such As Rising Demand For Automotive Components, Household Appliances, And Environmentally Sustainable Packaging Materials. Growing Use Of Polypropylene In Packaging Of Food, Pharmaceutical Products, And Electronic Products Owing To Its Viable Properties Such As High Corrosion Resistance And Electrical Insulation Is Another Major Expected To Boost This Segment’s The Revenue Growth Over The Forecast Period.
Based On Application, The Packaging Segment Held The Highest Revenue Share Of 30.8% In 2020 And Is Projected To Register A Steady CAGR Over The Forecast Period. Growing Need For Eco-Friendly And Sustainable Packaging Solutions, Increasing Adoption Of The Injection Molding Technology In The Packaging Industry, And Surging Need For Increased Shelf Life And Durability Of Consumer Products – Especially Food Beverage And Pharmaceutical Products – Are Major Factors Driving The Revenue Growth Of This Segment.
Among Regional Markets, The Asia Pacific Injection Molded Plastics Market Emerged As The Most Dominant In 2020 With A Robust Revenue Share Of 38.8%. According To The Report, The Regional Market Is Expected To Maintain Its Dominance Throughout The Forecast Period. Escalating Demand For Automobiles And Rising Number Of Industrial Manufacturing Facilities, Mainly In Developing Countries Including India, China, Malaysia, And Indonesia, Are Major Factors Driving Market Growth In This Region. Increasing Construction Activities, Growing Demand For Consumer Electronics, And Rapid Adoption Of Sustainable Packaging Solutions Further Bolster The Asia Pacific Market Revenue Growth.
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Market Segmentation:
Raw Material Outlook (Revenue, USD Billion; 2018-2028)
- Polypropylene
- ABS
- HDPE
- Polystyrene
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Packaging
- Consumables Electronics
- Automotive Transportation
- Building Construction
- Medical
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Key Questions Covered In The Global Injection Molded Plastics Market Report:
- What Is The Expected Market Size Of The Global Injection Molded Plastics Market During The Forecast Period?
- What Factors Are Expected To Hamper Global Injection Molded Plastics Market Growth Over The Forecast Period?
- What Key Factors Are Expected To Drive Global Revenue Growth Between 2021 And 2028?
- Which Application Segment Is Expected To Dominate Other Application Segments Over The Forecast Period?
- Which Region Is Expected To Dominate In Terms Of Revenue During The Forecast Period?
- What Are The Key Outcomes Of Porter’s Five Forces Analysis And SWOT Analysis?
- Which Leading Players Are Operating In The Global Injection Molded Plastics Market?
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