According to Coherent Market Insights (CMI), the global injection molded plastics market is estimated at $ 400 billion by the end of 2027
SEATTLE, July 08, 2021 (GLOBE NEWSWIRE) – Injection molding is widely used to make a wide variety of plastic parts from the smallest to the largest. In general, the parts to be injected must be designed very precisely in order to support the injection molding process. If the parts are not well designed, they can easily break or bend during the molding process. It is therefore essential to choose the right plastic for the part to be manufactured.
All bottles used daily in our homes or offices must undergo processing during the manufacturing process. As for the bottles, the parts that are molded during the process must be selected very carefully to ensure that they do not break easily. In addition to the bottles, injection-molded plastics are also used for thermal insulation in car tires and the like. In the automotive industry, these parts are used for cooling systems and other vehicle-related products. In addition, the packaging material must be perfect and suitable for the product.
The globe injection shaped Plastics market is estimated to be worth $ 400 billion by the end of 2027, corresponding to a CAGR of 5.3% over the forecast period (2020-2027).
Significant growth in the FMCG sector is expected to drive demand for plastic packaging solutions, thereby fueling growth in the global injection molded plastics market over the forecast period. For example, according to the India Brand Equity Foundation, the FMCG market in India will grow at an annual growth rate of 27.86 percent, reaching $ 103.70 billion by 2020 from $ 52.75 billion in FY18.
In addition, the introduction of new injection molded PCR plates is also expected to contribute to the growth of the market. AlphaGem Bio, a provider of medical laboratory equipment for liquid transfer handling, launched a Polymerase Chain Reaction (PCR) plate made from TOPAS Cycloolefin Copolymer (COC) from Polyplastics USA in May 2021.
The story goes on
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The development of an intelligent sensor solution for online monitoring of plastic injection molding processes is expected to offer lucrative growth opportunities for players in the global injection molded plastics market. For example, in March 2020, Fu Chun Shin Machinery Manufacture, in collaboration with the Taiwan government-sponsored Industrial Technology Research Institute, developed an intelligent sensor solution for online monitoring of plastic injection molding processes to ensure the quality of injection molded plastic products.
In addition, the market launch of injection molding simulation solutions is expected to contribute to the growth of the market. For example, in November 2020 Altair, a global technology company that provides data analysis, simulation and high-performance computing solutions, launched Altair Inspire Mold, an end-to-end solution for simulating injection molding.
The decline in the automotive sector is expected to limit demand for injection molding, thereby hampering growth in the global injection molded plastics market. For example, according to the Society of Motor Manufacturers and Traders, new car registrations in the UK fell 44% in March 2020 compared to March 2019.
The global injection molded plastics market is seeing the introduction of biodegradable plastic that can be used in plastic injection molding. For example, in June 2019 JasonMould Industrial Company Limited launched its first biodegradable plastic, which is used in plastic injection molding and all other products.
Several medical device manufacturers are investing in injection molding machines. In May 2021, for example, Boddingtons, a manufacturer of medical devices, invested in five new injection molding machines to meet the demand for a new OEM customer in the pharmaceutical sector.
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Major players in the global Injection Molded Plastics market include BASF, DOW Chemicals, Huntsman Corporation, JasonMould Industrial Company Limited, Ineos Oxide, Saudi Basic Industries Corporation, Exxon Mobil Corporation, Du Pont de Nemours & Company, and Lyondellbasell Industries
According to raw materials
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