Key Highlights:
· In termsof value, the global injection molded plastics market was stood around US$250 Bn in 2018 and is anticipated to expand at a CAGRof more than 5% from 2019 to 2027
· Packagingwas the biggest application segment for injection molding plastics. Packagingfinds its application in both consumers packaging and industrial as bothflexible and rigid packaging. Packaging shared more than 30% ofthe market volumes share as an application for injection molded plastics in2018, closely followed by consumables & electronics and automotive &transportation in 2018. However, consumables & electronicsis expected to exhibit significant growth rate between 2019 and 2027 comparedto other applications
· Based onraw material, polypropylene was the leading material in 2018 andis projected to exhibit significant growth rate during the forecastperiod 2019 to 2027
· Based onregion, Asia Pacific held major share in 2018 and is expectedto grow at significant rate compared to other region between 2019 and 2027. Growingautomotive & transportation owing increase in usage of lightweight andelectric vehicles is the major factor for the growth
· Theinjection molded plastics in North America and Europe is expected to exhibitmoderate growth rate during the forecast period
· Increasingusage of special shape and design house ware products which can only beprovided using injection molding, followed by increasing in demand of packagingand lightweight automotive materials is the major factor which is expected todrive the injection molded plastics market
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=634
Growing Environmental Concerns and Demand forEco-friendly Products May Hamper Overall Demand for Injection Molded Plastics
· The valuechain for any synthetic plastic starts from crude oil, as crude oil is thebasic raw material from which many other petroleum and petrochemical productsare derived via refining
· Growingconcerns regarding the impact of production and disposal of injection moldedplastics on the environment is acting as one of the major barriers for theglobal market. Injection molded plastics are widely used in packaging and electronicappliances so their disposal is one problem which is being faced by manyproducers as these plastics are non-degradable in nature and is creating anegative impact on the environment
· Apartfrom raw materials used and finished goods produced in the process, the moldingmachine itself is responsible for creating harmful effects on the environment.Injection molding machines during the process release harmful toxic gases intothe open environment and further deplete the ozone layer
· Due tothese growing concerns, there is a shift in demand from consumers foreco-friendly bio-based products which are derived from renewable raw materialsand have low carbon footprints globally. Governments mainly in the U.S. andEurope have adopted stringent regulations on the production of injectionmolding plastics and are supporting the use and production of bio-basedalternatives to fulfil the growing need of injection molded plastics. In orderto follow the regulations imposed on the producers by the regulatory bodies,companies have to undergo technological up gradation, which increases theiroverall cost of the product and expected to put a question mark on theirprofitability
More Trending Reports
Asia Pacific Expected to be Highly Lucrative Regionfor Global Injection Molded Plastics Market
· In termsof volume and value, Asia Pacific accounted for major share of more than 35.0% ofthe global Injection Molded Plastics market in 2018. It is likelyto remain the dominant market during the forecast period. The growth isprimarily driven by the growing demand of injection molding plastic products inemerging economies like China and India especially for consumable &electronics and automotive & transportation. China was the leading countryin 2018 for injection molded plastics owing to stringentregulations supporting sustainable construction and focus on lightweight andelectric vehicle manufacturing where demand for injection molded plastics isincreasing
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=634
Global Injection Molded Plastics -Key Developments
· BASF hasstarted offering simulating applications of injection molded components. Thiswill help customers to identify possible weak points during actual developmentof components.
· Companieshas also started using micro injection molding which involves molding parts onmicroscopic level. This will benefit to different industries and especially tomedical field. Medical device manufacturers will be able to provide betterquality tools with use of micro injection molding that can lead to saving lives
Global Injection Molded Plastics Market:Competition Landscape
· Theglobal Injection Molded Plastics market is highly fragmented with presence oflarge numbers of unorganized players especially in Asia Pacific. Some of themajor players include BASF SE, DowDupont, LyondellBasell, SABIC,Huntsman International, Exxon Mobil Corporation, Ineous and others.
BuyNow
https://www.transparencymarketresearch.com/checkout.php?rep_id=634<ype=S
The InjectionMolded Plastics Market hasbeen undergoing some remarkable growth dynamics, shaped increasingly by digitaltechnologies and environmental sustainability concerns of product development.Over the decades, the feedstock variability and the onslaught of cheapersubstitutes have squeezed in profit margins of the chemical and materials sector.On the other hand, the value chain of several businesses in the Injection Molded Plastics Market has undergone overhaul, increasinglyrendering some aspiring players with greater control over the forces anddemand. The penetration of Industry 4.0 in in the market has stirredgame-changing trends for range of stakeholders in the overall chemicals andmaterials sector. Manufacturing and production environments of businesses inthe Injection Molded Plastics Market are keen onformulating and implementing strategic frameworks that will turn them intodigital enterprises.
Companies in the InjectionMolded Plastics Market have increasingly shifted gears with wideapplication of digital technology across the continuum, from raw materialsourcing to manufacturing to generation of final output, to warehousing tofinal distribution operations. Among the various affects, the market iswitnessing new growth economics due to thinning of line between specialty andcommodity businesses that are associated with the larger ecosystem. At the sametime, new growth parameters are being vigorously being debated as industrystakeholders put greater emphasis on the circular economy processes.
About Us
Transparency Market Research (TMR) is a global market intelligencecompany providing business information reports and services. The company’sexclusive blend of quantitative forecasting and trend analysis providesforward-looking insight for thousands of decision makers. TMR’s experiencedteam of analysts, researchers, and consultants use proprietary data sources andvarious tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team ofresearch experts so that it always reflects the latest trends and information.With extensive research and analysis capabilities, Transparency Market Researchemploys rigorous primary and secondary research techniques to developdistinctive data sets and research material for business reports.
Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/
