The global injection molded plastics market size was USD 302 Billion in 2023 and is expected to register a revenue CAGR of 4% over the forecast period, according to the latest report by Reports and Data.
The rising usage of lightweight materials to lower vehicle weight and improve fuel economy is another driver driving market revenue growth. Interior trim, dashboards, and door panels are just a few examples of injection molded plastic car components. In addition, the demand for injection molded plastics in the automotive sector is predicted to rise in response to the growing popularity of electric vehicles (EVs).
Injection molded plastics are another important component of the packaging industry since they may supply both high-quality and low-cost packaging solutions. Injection molded plastics are widely used to make packaging components such as containers, caps, and closures. Consumer desire for portable and handy packaging choices is driving up demand for injection molded plastics in the packaging sector.
Injection molded plastics are experiencing high demand in the construction sector due to their strength, lightweight nature, and resistance to weather and chemicals. Various construction products such as pipes, fittings, and insulation are manufactured using plastic injection molding techniques.
In addition, the electronics industry extensively utilizes injection molded plastics for their ability to produce precise and accurate electronic components. Electronic components like housings, connectors, and switches are commonly produced using plastic injection molding. With the increasing demand for electronic goods and devices, the demand for injection molded plastics in the electronics industry is expected to continue to grow.
The growing need for environmentally friendly and sustainable materials is driving manufacturers to develop injection molded plastics using green technologies. Moreover, the demand for recyclable and biodegradable injection-molded plastics is expected to contribute to the revenue growth of the market.
The Plastics Industry Association claims that a variety of industries, including automotive, healthcare, packaging, electronics, and construction, employ injection molded plastics.
Injection molded plastics make up more than half of all thermoplastic exports in North America, and demand from end users including consumer goods and medical device makers has been on the rise since 2000.
The Environmental Protection Agency (EPA) of the United States has created laws limiting the use of injected plastics in a number of applications such as packaging, medical equipment, and toys.
The European Union's Packaging and Packaging Waste Directive establishes minimum recyclability and reusability criteria for injection molded items used in packaging applications.
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Some of the prominent players profiled in the global injection molded plastics market include BASF SE, Dow Inc., LyondellBasell Industries N.V., SABIC, Celanese Corporation, Covestro AG, Exxon Mobil Corporation, Huntsman Corporation, Ineos Group Holdings S.A., Reliance Industries Limited, Berry Global Inc., and Bemis Company Inc.
Some Key Highlights from the Report
- Polypropylene is expected to hold the largest market share throughout the forecast period. It is a thermoplastic polymer that is used in a range of sectors such as automotive, packaging, consumer items, and construction due to its high durability, chemical resistance, and low weight. Furthermore, polypropylene is a popular material option in the injection molding process due to its low cost in comparison to other materials and easy availability. As a result, it is expected that demand for polypropylene in injection molding applications would expand throughout the forecast period.
- The packaging segment is expected to hold the largest revenue share throughout the projected period. The demand for injection molded plastics in the packaging industry is expanding due to the increasing need for lightweight, durable, and cost-effective packaging materials across various sectors such as food and beverage, pharmaceuticals, and consumer goods. Moreover, the emphasis on sustainability and recyclable packaging materials is driving the demand for injection molded plastics, as they are easily recyclable and contribute to reducing the carbon footprint.
- During the projected period, the Asia Pacific region is expected to dominate the Injection Molded Plastics Market in terms of revenue and growth. The region's market expansion is driven by the increasing demand for injection-molded plastics in various end-use sectors, including automotive, packaging, and construction. The growing middle class and their rising disposable income, along with the overall increase in consumer spending, contribute to the high demand for injection-molded plastics in the region. China and India, with their large populations and growing industrial sectors, are expected to contribute significantly to the market's growth in the region. These countries offer attractive investment opportunities in the injection molded plastics market due to the availability of inexpensive labor and raw materials. Moreover, the emphasis on environmentally friendly packaging solutions further fuels the growth of the industry in the region.
- In 2021, Dow Inc. introduced a new recycled polyethylene resin called PCR-enhanced PE. This resin is made from post-consumer plastic waste and offers a more sustainable alternative for plastic manufacturing. It can be utilized in various applications, including injection molding, providing an environmentally friendly solution.
- In 2021, BASF SE expanded its range of biodegradable plastics by introducing Ecovio EA, a new injection-molding grade biodegradable plastic. Ecovio EA is manufactured using renewable raw materials and is designed to decompose in industrial composting facilities, offering a sustainable solution for plastic injection molding.
- Dow Inc.: In 2021, Dow Inc. introduced a new material called Infuse Olefin Block Copolymers (OBCs) specifically designed for injection molding. This material offers enhanced impact resistance, making it suitable for applications in industries such as automotive and packaging.
- LyondellBasell Industries N.V.: In 2020, LyondellBasell Industries N.V. launched Purell RP320M, a new injection-molding grade material made from post-consumer recycled plastic. This sustainable material provides an environmentally friendly option for plastic manufacturing and can be utilized in various applications.
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For the purpose of this report, Reports and Data has segmented the global injection molded plastics market on the basis of Material Type Outlook, End-Use Industry Outlook, and Regional Outlook:
Material Type Outlook (Revenue, USD Billion; 2023 - 2032)
- Polypropylene
- Polyethylene
- Acrylonitrile Butadiene Styrene (ABS)
- Polystyrene
- Others
End-Use Industry Outlook (Revenue, USD Billion; 2023 - 2032)
- Packaging
- Automotive
- Construction
- Electronics
- Medical Devices
- Consumer Goods
- Others
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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