The Global Injection Molding Materials 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 Materials Market:
In 2016, plastics segment held a dominant position in the injection molding materials market. According to the 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 capita consumption of 17 kg and 120 kg, respectively. Therefore, increasing income levels and demographic transition are major factors resulting in high plastic consumption in India.
Key Takeaways of the Market:
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