Injection Molded Plastics Market Growth and Industry Segmentation | Top Players Are BASF SE, Lyondellbasell Industries N.V., Dow, Inc., DuPont, SABIC,Eastman Chemical Company | Grand View Research, In

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According to a new report published by Grand View Research, Growing demand for plastic components from various end-use industries including automotive, packaging, home appliances, electrical and electronics, and medical devices is anticipated to drive the market.

Injection Molded Plastics Market Growth & Trends

The global injection molded plastics market size is anticipated to reach USD 390.3 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.6% from 2021 to 2028. Growing demand from key applications including automotive, packaging, and construction particularly in Brazil, Russia, India, China, and South Africa (BRICS) nations, is likely to drive the growth. The high-growth regions such as Middle East and Asia Pacific have witnessed a surge in capacity addition over the last few years.

The increasing presence of plastic injection molding companies in China on account of low manufacturing costs and ample availability of skilled labor is anticipated to benefit the regional market. Major foreign companies are increasing their production capabilities in the region, owing to growing demand for plastic products. Government support in the form of tax benefits and financial incentives in China and India to increase the FDI flow has helped develop the market for plastics in these countries.

In packaging applications, High-Density Polyethylene (HDPE) is extensively used in thin wall injection molding. Growing packaging demand from food, bin liners, and thing gauge bags is anticipated to drive its growth over the forecast period. The rising penetration of injection-molded HDPE in shipping containers, industrial pails, and houseware applications is anticipated to further drive its demand over the forecast period.

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The recent outbreak of the COVID-19 pandemic has affected the revenue generation of the companies operating in the market owing to the halt or slowdown in the production facilities. Thus, the companies are focusing on upgrade of their resources and production capabilities to help in the fight against the pandemic. For instance, G&C products, a U.S.-based plastic injection mold making company that produces plastic products for the fishing and medical industry, started the production of personal protective equipment such as face shields and face masks.

Injection Molded Plastics Market Report Highlights

In terms of revenue, demand for injection molded plastics from the packaging industry in Asia Pacific is projected to reach USD 49.7 billion by 2028 at a CAGR of 5.4% from 2021 to 2028
The growth of the electronics industry and cost-effectiveness of electrical appliances are projected to remain a key driving factor for the next eight years
Demand from the medical sector in North America is anticipated to expand at a CAGR of 4.0% from 2021 to 2028
Packaging is the prominent application segment in France and is expected to witness a CAGR of 4.3% over the forecast period

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Injection Molded Plastics Market Segmentation

Grand View Research has segmented the global injection molded plastics market on the basis of raw material, application, and region:

Injection Molded Plastic Raw Material Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)

Polypropylene
ABS
HDPE
Polystyrene
Others

Injection Molded Plastic Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)

Packaging
Consumables & Electronics
Automotive & Transportation
Building & Construction
Medical
Others

Injection Molded Plastic Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia

List of Key Players of Injection Molded Plastics Market

BASF SE
Lyondellbasell Industries N.V.
Dow, Inc.
DuPont
SABIC
Eastman Chemical Company
INEOS Group

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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