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  • Published On : Oct 2022
  • Code : CMI4022
  • Industry : Advanced Materials
  • Pages : 120
  • Formats :

Injection molded plastics is a manufacturing process used to produce various plastic products by using injecting molten material. Mostly thermoplastic and thermosetting plastic is used for the production of plastic products such as automotive parts, electronic appliances.

Global Injection-Molded Plastics was valued at US$ 284.70 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.8% during the forecast period (2022 to 2030).

Drivers

Expansion of the housewares market around the globe is a prime factor propelling the market growth of the injection molded plastics. Injection-molded plastics are used to produce various housewares products such as beverage ware, cookware, dinnerware, bake ware, flatware, and cutlery. The growth of the housewares market is also attributed to increasing population around the globe. Thus, the growth of the housewares market is expected to foster the market growth of injection molded plastics.

Growth in the plastic packaging market is projected to augment the market growth of the injection molded plastics. Plastic packaging is one of the largest user of injection molded plastics. The rise in the demand for food packaging and other industrial packaging is driving demand for plastic packaging, especially across developing countries. Hence, growth in the plastic packaging market is accelerating the market growth of the injection molded plastics.

Recent disruptions in 2019-2020 in supply chain and raw material availability owing to Coronavirus (Covid-19) Pandemic have hampered the production rate of various products such as consumer goods, automotive parts, constructions materials, and others. However, certain segments of the market such as healthcare and food & beverage industries are witnessing a surge in demand for plastics which in turn is expected to fuel the growth of the global injection molded plastics market till 2021.

Figure 1. Global Injection Molded Plastics Market Value Share (%), By Region, 2021

Injection Molded Plastics  | Coherent Market Insights

Regionally, Asia-pacific dominated the global injection molded plastics market in 2021, reporting 36% market share in terms of revenue due to growth in packaging, semiconductors, automotive and electronics industry, followed by North America and Europe, respectively.

Market Restraints

Due to some popular alternative techniques for manufacturing plastic products like bow molding, polymer casting, extrusion, and 3D printing. The bow molding process operates at a lower pressure as compared to injection molding, leading to lesser production cost. One of the production process which is popular nowadays is 3D printing of plastic parts. As 3D printers require minimal tooling and setup time for designing, the cost of producing a custom part is negligible in comparison with traditional production processes. Presence of such kinds of production technologies, is thus proving to be hindrance to the growth of injection molded plastics market.

An environmental concern associated with the use of plastic products is projected to hinder the market growth of injection molded plastics. Production and disposal of plastic have various environmental impacts as they are non-degradable in nature.

Moreover, high initial investment of the equipment used in the injection molded plastics is expected to hamper the market growth over the forecast period.

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Injection Molded Plastics Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 284.70 Mn
Historical Data for: 2017-2020 Estimated Year: 2022
Forecast Period 2022 to 2030 CAGR: 5.8% Forecast Period: 2022-2030
Geographies covered:
  • Region: North America, Latin America, Europe, Asia Pacific, Middle East & Africa
Segments covered:
  • By Raw Material: Polypropylenem, Acrylonitrile butadiene styrene (ABS), High Density Poly Ethylene (HDPE), Polystyrene, Others
  • By Application: Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, Others 
Companies covered:

BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries

Growth Drivers:
  • Rise in the demand for packaging solutions in food & beverages industry
  • Expansion of the housewares market around the globe 
Restraints & Challenges:
  • Environmental concern associated with the use of plastic products

Market Trends

Polypropylene material is gaining traction across automotive components, household goods, and packaging applications. It is mainly used in electrical connector covers and bases in order to provide electrical and mechanical support as it has superior electrical insulation properties. Thus, the growing popularity of polypropylene material is projected to augment the market growth of the injection molded plastics over the forecast period.

Increasing use of metals and alloys in the automotive component in place of injection molded plastics is a key trend in the market. Growing demand for a lightweight vehicle for fuel efficiency is expected to foster the market growth of the injection molded plastics. Thus, the growth of the injection molded plastics market is also attributed to the rising adoption of the advanced plastic across the automotive industry.

Figure 2. Global Injection Molded Plastics Market Value Share (%), By Application, 2021

Injection Molded Plastics  | Coherent Market Insights

On the basis of application, Consumables & Electronics, the global injection molded plastics market in 2021 reported for around 33% of market share in terms of revenue, followed by packaging and others, respectively.

Recent Developments

  • In October 2021, Silgan Holdings, a Connecticut-based American manufacturing company that produces consumer goods packaging acquired Gateway Plastic, engaged in manufacturing of dispensing closures and integrated dispensing packaging solutions. This will increase the global injection molded plastics market as it will be required to a greater extent for goods packaging solutions.
  • In September 2020, ALPLA, a leading company engaged in development and production of plastic packaging solutions acquired a facility of Amcor PLC located in Pune of Western India that produces PET bottles, which further enhanced its product portfolio in packaging solutions.
  • In August 2019, American Injection Molding Linc. & American Extruded Plastics Inc. was acquired by Pexco LLC, a North American plastic extruder. Pexco LLC made this acquisition in order to provide integrated molded plastics solutions to its customers.

Competitive Section

Major players operating in the global injection molded plastics market include BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries

Injection molding process is the manufacturing process for producing parts by inserting materials into a mold to create varied shapes and sizes of the object. Injection molding can be achieved with a host of materials consisting of metals, elastomers, glasses, confections, and polymers. Injection molding plastics are extensively in variety of components such as automotive parts, bottle caps, packaging, storage containers, mechanical parts, and wire spools.

Market Dynamics

The global injection molded plastics market has witnessed significant growth in recent past years, owing to the rising demand for packaging solutions in various end-user industries such as pharmaceutical, cosmetics, food & beverages and others. Furthermore, growing investments for research & development in production injection molded plastics is expected to provide lucrative growth to the global glass packaging market over the forecast period.

Major players in the global injection molded plastics market are increasing their investment on innovative product launchings, research & development and marketing & promotional activities in automobile and electrical industry to capitalize on emerging trends in various end-use industries such as cosmetics & personal care, textile, food & beverage, healthcare and others. This scenario is expected to fuel the market during the forecast period

Key features of the study:

  • This report provides an in-depth analysis of global injection molded plastics market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2030), considering 2021 as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global injection molded plastics market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
  • The global injection molded plastics market report caters to various stakeholders in this industry including investors, suppliers, sodium hypochlorite manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global injection molded plastics market.

Detailed Segmentation:

  • Global Injection Molded Plastics Market, By Raw Material :
    • Polypropylene
    • Acrylonitrile butadiene styrene (ABS)
    • High Density Poly Ethylene (HDPE)
    • Polystyrene
    • Others
  • Global Injection Molded Plastics Market, By Application:
    • Packaging
    • Consumables and Electronics
    • Automotive and Transportation
    • Building and Construction
    • Others
  •  Global Injection Molded Plastics Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • France
      • Germany
      • U.K.
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • Australia
      • India
      • Rest of the Asia-pacific
      • Rest of the World
  • Company Profiles
    • BASF *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • DOW Chemicals
    • Huntsman Corporation
    • Ineos oxide
    • Saudi basic industries corporation
    • Exxon Mobil Corporation
    • Du Pont de Nemours & Company
    • Lyondellbasell industries

 “*” marked represents similar segmentation in other categories in the respective.

Frequently Asked Questions

Global injection molded plastics market was valued at around US$ 284.70 Million in 2021.
Rise in the demand for packaging solutions in food & beverages and expansion of the housewares market around the globe is expected to fuel the growth of the market all over the world.
Increasing use of metals and alloys in the automotive component in the market.
Environmental concern associated with the use of plastic products is expected to hamper the market during the forecast period.
Major players operating in the market include BASF, DOW Chemicals, Huntsman Corporation, Ineos oxide, Saudi basic industries corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell industries.
The market is estimated to grow at around 5.8 % CAGR in the forecast period (2022-2030).

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