Injection Molded Plastics Market Research Report—Global Forecast till 2030

Injection Molded Plastics Market: Information by Type (Polypropylene, ABS, ASA, SAN, HDPE, LDPE, LLDPE, Polystyrene, Polycarbonate, PEEK, PET, Polyurethane Thermoplastics, and Others), Application(Packaging, Consumables & Electronics, Automotive & Transportation, Building & Construction, Medical, And Others), and Region—Forecast till 2030

ID: MRFR/CnM/4091-CR | October 2021 | Region: Global | 449 pages

Injection Molded Plastics Market Overview

The injection molded plastic market is expanding exponentially. It was valued at USD 265.1 billion in 2020. Injection molding is the most widely used plastic manufacturing process owing to its several advantages. It enables high-speed molding with great precision and repeatability. 


Molded plastics find wide applications in various end-user industries. The automotive, packaging, electronics, and construction industries are the major demand generators.  Therefore, with the growth of these industries, the market share of injection moldings is increasing rapidly. The global injection molded plastic market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.78% over the current forecast period (2021-2028).


Injection molding is a highly beneficial manufacturing process for bulk manufacturing. Moreover, the operating and maintenance cost is also very low, thereby decreasing manufacturing costs. The global injection molded plastic market value is estimated to be worth USD 420.5 billion by the end of the forecast period in 2028. 


Covid 19 Analysis

Covid 19 had a severe impact on the global injection molded plastic market. The poor performance of major end-user industries such as automotive, packaging, and construction industry led to a fall in the demand. Moreover, travel and movement restrictions during the period affected the supply chain of the injection molded plastic market.


There was also a halt in the production process to curb the virus spread which led to a shortage of products for some period. However, the market is showing swift recovery after the revival of other end-user industries. The market is expected to surpass the earlier growth rate within a few months.


Competitive Landscape

The major global companies playing a key role in the injection molded plastic market are :



  • BASF SE (Germany)

  • Huntsman International LLC (US)

  • SABIC (Saudi Arabia)

  • Exxon Mobil Corporation (US)

  • LyondellBasell Industries Holdings BV (Netherlands)

  • DowDuPont (US)

  • INEOS Group Holdings SA (UK)

  • Chevron Phillips Chemical Company (US)

  • Reliance Industries Limited (India)

  • Eastman Chemical Company (US).


Global Injection molded plastics market, by Type, 2020 (USD Million)
Injection molded plastics Market By Type 2020
Sources: MRFR Analysis


Market Dynamics

Drivers


Rising demand for molded plastics in various end-user industries is driving the growth of the injection molded plastic market. The injection molding process enables bulk production of plastic goods with high efficiency and less resource wastage. Therefore, low production costs and high reproducibility are increasing its market share.


injection molded plastic has wide application in various end-user industries. The demand from the automotive industry is also increasing to replace heavy metal parts with lightweight and durable objects. Similarly, the growth of the packaging, construction, and pharmaceutical industries is also increasing the demand for injection molded plastics. Moreover, technological advancements in molding technology will surely benefit the injection molding industry and fuel market growth.   


Restraints


The high initial cost of injection molding machines is the major growth restraining factor of the global injection molded plastic market. Fluctuating nature of fuel prices restricts the market growth as petroleum products are raw materials for the plastic industry. Moreover, growing concern about the harmful environmental impact of plastics and research for their substitute will also have a negative impact on the market. 


Technology Analysis


Injection molding is the process of manufacturing plastic products of varying shapes and sizes using a mold. In this method, the raw materials are melted and then injected into a cavity of mold to cast into various shapes which solidify on cooling to obtain the shape. The melt takes the shape of mold once cooled and is ejected from the mold with clear finishing.


injection molded plastic finds application in various end-user industries such as automotive and transportation, packaging, building & construction, electronics, etc. Injection molding is the most widely used process for manufacturing plastic products owing to its several advantages. It enables speed molding with great precision and repeatability. Moreover, this process gives a smooth finish to products and reduces resource wastage. 


Study Objectives


The specific objectives of this market report on injection molded plastic are given below:



  • To provide a complete overview of the injection molded plastic market.

  • To analyze and forecast the injection molded plastic market in terms of value and volume.

  • To provide information about the impact of covid 19 on the injection molded plastic market.

  • To identify the problems and prospects of the injection molded plastic market.

  • To give details about the technological know-how of the product.

  • To provide an overview of the regional market and potentially growing segments.

  • To identify the key players of the injection molded plastic industry.


Segment Analysis

Segmentation of the global injection molded plastic market, By raw material



  • Polypropylene

  • Acrylonitrile butadiene styrene (ABS)

  • Polystyrene

  • Polyethylene


The polypropylene segment leads the global injection molded plastic market by type. This dominance is due to the better physical and chemical properties of polypropylene. Polypropylene accounted for about 40 % of the total market share. It is relatively cheaper than other plastics and possesses high flexural strength. It is water-resistant and offers resistance against reaction to a wide number of chemicals. 


Segmentation of the global injection molded plastic market, By Application



  • Automotive & Transportation

  • Electronics & Consumer Goods

  • Packaging

  • Building & Construction

  • Medical

  • Others


The packaging segment dominates the injection molded plastic market by application. There is a rising demand for packaging plastics in the food and beverage, pharmaceutical, and consumer packaged goods industry. According to a study, around 40 % of the total plastics produced are used for packaging purposes.


Global Injection molded plastics market Share, by Region, 2019 (%)
Injection molded plastics Market Share by Region 2019
Sources: MRFR Analysis


Regional Analysis

The different regional markets for the global injection molded plastic market are:



  • North America

    • US

    • Canada

    • Mexico





  • South America

    • Brazil

    • Argentina





  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe





  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific





  • Rest of the world ( RoW )

    • The Middle East

    •  




Asia-Pacific is the largest regional market, accounting for about 40 % of the global injection molded plastic market share. Rapid industrialization and the growth of various end-user industries of plastics are the major contributors to the market growth. Moreover, factors such as easy availability of raw materials and low labor cost are inviting different industrial establishments of plastic manufacturers in this region. Furthermore, rising standard of living and increasing disposable income is also likely to support the market growth over the forecast period. 


North America is the second-largest regional market for injection molded plastics. The greater prevalence of demand-generating industries such as automotive, packaging, and electronics is propelling the market growth in this region. Moreover, the wide presence of the raw material ( oil & gas)  industry is a positive factor for the growth of the injection molded plastic market in this region. 


Europe is a significant regional market for injection molded plastics occupying about 18 % of the global market share. The rising demand from the automotive and consumer goods industry is the major growth driving factor in this region. The high disposable income of people in this region generates huge demand for high-end luxurious items involving plastics.


The Latin American segment is expected to witness a moderate growth owing to demand from growing industrial establishments in some regions. The Middle East and the African segment are also anticipated to show moderate growth over the forecast period. 


Recent Developments



  • In May 2021, INEOS partnered with LACTEL to produce the world’s first HDPE Milk Bottles from advanced recycling. This product will be used in the Montauban production plant. In the same year, Gruppo Maip, a leading international plastics formulator and compound producerbased in Turin, Italy, became a distributor of Eastman Tritan HM glass-filled copolyester and Treva engineering bioplastic in Europe.

  • In October2020, Chevron Phillips Chemical announced its first commercial-scale production of polyethylene, “Marlex Anew Circular Polyethylene,” using advanced recycling technology.

  • In July 2020, Technimark, an American manufacturer of custom rigid plastic packaging and components, acquired Tool & Plastic Industries, an injection molding product supplier.

  • In May 2018, Sensient Cosmetic Technologies launched Natpure Screen TWG, a water dispersion of ultrafine, high-performance titanium oxide for sun care application. 


Intended Audience


This report will be beneficial for every stakeholder of the injection molded plastic market such as :



  • Manufacturers of injection molded plastics

  • Raw material Suppliers

  • Traders and Suppliers

  • Investors

  • End-user Industries


Report Overview


This report provides an in-depth analysis of the injection molded plastic market in terms of current value and future forecast. We have also identified the problems and prospects of the given market.


Moreover, technological analysis of the product will greatly help in knowing the product better and in decision making. This report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the injection molded plastic market. 



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 420,537.20 million
  CAGR   CAGR of 5.78%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Raw Material Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   BASF SE (Germany), Huntsman International LLC (US), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), LyondellBasell Industries Holdings B.V. (the Netherlands), DowDuPont (US), INEOS Group Holdings SA (UK), Chevron Phillips Chemical Company (US), Reliance Industries Limited (India), Eastman Chemical Company (US)
  Key Market Opportunities   Growing Adoption from the Healthcare Sector to Create Growth Avenues for the Market
  Key Market Drivers   Growing Applications in the Packaging Sector to Drive Market Growth


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Frequently Asked Questions (FAQ) :


Rising demand for molded plastics in various end-user industries is driving the growth of the injection molded plastic market.

Asia-Pacific is the largest regional market of the global injection molded plastic market owing to the rapid growth of various end-user industries in this region.

The packaging industry is expected to have the highest market value over the forecast period.

The major global companies playing a key role in the injection molded plastic market are : ● BASF SE (Germany) ● Huntsman International LLC (US) ● SABIC (Saudi Arabia) ● Exxon Mobil Corporation (US) ● LyondellBasell Industries Holdings BV (Netherlands) ● DowDuPont (US) ● INEOS Group Holdings SA (UK) ● Chevron Phillips Chemical Company (US) ● Reliance Industries Limited (India) ● Eastman Chemical Company (US).