Injection Molded Plastics Market Outlook Suggests Growing Packaging Applications Will Fuel The Sector Growth

Published On: December 2022

The injection molded plastics market is expected to be driven by the rising demand for plastic components from various end-use sectors, including automotive, packaging, household appliances, electrical & electronics, and medical devices. The importance of injection-molded technology in the mass manufacturing of intricate plastic shapes has increased due to contemporary advancements to reduce the rate of defective production. Throughout the projection period, the market expansion is anticipated to be constrained by the volatile pricing of raw materials, including benzene, ethylene, propylene, and styrene, as well as increased disposal-related issues.

According to the injection molded plastics market outlook, over the current projection period, it is anticipated that the global market for injection-molded plastics will expand at a CAGR of 5.78% between 2021 and 2028.

Plastic ingredients heated to a molten state are injected into a mold, cooled, and then solidified to create injection molded plastics. Typically, thermoplastics like polypropylene (PP), high-density polyethylene (HDPE), acrylonitrile butadiene styrene (ABS), low-density polyethylene (LDPE), polyamide (nylon), polycarbonate (PC), and high impact polystyrene(HIPS) are used in their production. They are employed to precisely and efficiently create delicate and complex parts. Injection molded plastics have become quite popular in the packaging, healthcare, electronics, automotive, and consumer goods sectors because they are lightweight and affordable.

Trends in the global injection-molded plastics industry:

As per the injection molded plastics market analysis, the widespread use of the injection molded plastics in many sectors serves as the primary driver of market expansion. Since ABS is a food-grade plastic, it is frequently used to produce items such as mixing bowls, lunch boxes, measuring cups, butter dishes, citrus squeezers, coffee makers, mixers, blenders, and food processors. In addition, it is also used in food packaging, such as lids and tubs for margarine containers, since they need strong rip strength, another vital element that promotes development.

Furthermore, rising demand for cosmetics and toiletry packaging, pharmaceuticals, home chemicals, and food and beverage packaging has boosted product adoption rates. Additionally, the production of bags, films, bottles, golf club heads, plastic clarinets, medical equipment, cellphones, cutlery, geomembranes, athletic apparel, eyewear lenses, area rugs, and automobile batteries has increased the use of injection molded plastics. By this, the demand for injection molded plastics has increased due to the expanding use of nylon due to its better electrical qualities, stability, toughness, and resistance against wear, abrasion, impact, and chemicals.

As a result of market players' reorientation toward high-volume production employing affordable and high-quality plastics, the development of novel technologies for creating plastic items has exponentially fueled the injection molded plastics market. Other reasons, including the packaging industry's explosive growth, rising auto sales, rising consumer spending power, rising product uses in the construction sector, and technological advancements, are also helping to drive the market's expansion.

The market for injection molded plastics is expanding due to rising demand for molded across various end-user sectors. Plastic goods may be produced in large quantities with high efficiency and little resource waste thanks to the injection molding technique. Therefore, its market share is growing due to low production costs and good reproducibility.

Covid -19 Impact:

The COVID-19 pandemic significantly impacted the global market for injection molded plastics. The underwhelming performance of important end-user industries like the automobile, packaging, and construction sectors caused a decline in demand. Additionally, during that time, travel and movement restrictions impacted the injection molded plastic market's supply chain. Production was also stopped to stop the virus from spreading, which caused a temporary shortage of goods. Nevertheless, the market is quickly recovering due to the resurgence of other end-user industries. According to the injection molded plastics market analysis, the market is anticipated to outpace its prior growth rate within a few months.

Modern innovations

  • In May 2021, INEOS and LACTEL collaborated to create the first HDPE milk bottle using sophisticated recycling. This item will be utilized in the Montauban manufacturing facility. In the same year, Eastman Tritan HM glass-filled copolyester and Treva engineering bioplastic were distributed in Europe by Gruppo Map, a prominent multinational plastics formulator and compound maker situated in Turin, Italy.

  • Chevron Phillips Chemical announced in October 2020 that it would begin producing polyethylene commercially utilizing cutting-edge recycling technology under the name "Marlex Anew Circular Polyethylene."

In July 2020, Tool & Plastic Industries, a supplier of products for injection molding, was acquired by Technimark, an American maker of rigid plastic packaging and components.