The Global Injection Molding Market was valued at US$ 212.81 billion in 2016, according to stats released by Coherent Market Insights. Injection molding is a process for producing parts by injecting a material into a mold. Injection molding is used to produce a wide range of products with various raw materials, including plastics, metals such as iron, aluminum, copper, precious metals, and carbide. Increasing demand for injection moldings is experienced by various end-use industries such as automotive, consumer goods, packaging, healthcare, electrical & electronics, building and construction, and furniture. Injection molding parts are carefully designed to ease the molding process.
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Key Trends and Analysis of the Injection Molding Market:
Plastic accounted for a dominant segment in 2016, according to the stats provided by Coherent Market Insights. According to India Brand Equity Foundation (IBEF), the per capita consumption of plastics in India accounted for around 4 kilograms per year. China and the U.S. recorded an average per captia consumption of 17 kg and 120 kg, respectively. Therefore, significant opportunities for plastic consumption in persist in India. Increasing income levels and demographic shifts lead to increasing consumption of plastic products.
Key Takeaways of the Market:
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